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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

At the mortgage loan closing, do I have to sign if I don't like the terms?

No.  You don’t have to sign anything unless you're satisfied with the terms.

Warning: You should never sign anything that you don't understand. Don't sign if you don't understand the mortgage terms or if you think that you won't be able to pay back the loan.

If you are borrowing money to buy a home, you likely have a contract with the seller. The contract may limit the amount of time and flexibility you have to close the sale. The contract may also subject you to legal action if you break it.

Review your contract or seek the advice of an attorney to determine what options you have if you decide not to take the home loan offered for the closing.  You may be able to secure a new mortgage or extend the period to close the sale. However, if you can't do so, you may lose the deposit you paid to the seller when you entered into an agreement to buy their home. The seller may have other legal rights against you.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.