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Will I receive the Know Before You Owe disclosures when I shop for a mortgage?

Yes, based on federal law, you will receive two disclosure forms: a Loan Estimate and Closing Disclosure.

Our Know Before You Owe mortgage initiative empowers consumers with the information they need to make informed mortgage choices. Under this initiative, we have consolidated the mortgage disclosures required under federal law in two forms. The disclosure forms are called the Loan Estimate and the Closing Disclosure.

  • The Loan Estimate is provided early in the mortgage process, within three business days of your application.
  • The Closing Disclosure is provided at the end of the process, and you must receive it at least three business days before closing.

Note: You will not receive a Loan Estimate or Closing Disclosure if you are shopping for:

For these kinds of loans, you should receive Truth-in-Lending disclosures. If you are shopping for a reverse mortgage, you will also receive a Good Faith Estimate (GFE) and a HUD-1 Settlement Statement.