Trying to understand your loan terms and costs for an upcoming purchase in the Fort Myers or Cape Coral areas?

For eligible transactions, including most residential real estate purchases, creditors must provide a closing disclosure form documenting the actual transaction terms and costs three business days before consummation. It must be in writing, whether paper or digital, and disclose only the information specified by the CFPB (Consumer Fiancial Protection Bureau).

If terms or costs change prior to consummation the creditor must provide a corrected disclosure containing the updated terms. In some cases, this may require an additional 3-business-day waiting period to consummation.

Consummation and closing are legally distinct although they may occur at the same time depending on applicable state laws. Consummation occurs when you become contractually obligated to the creditor on the loan and not, for example, the real estate seller. The disclosure must be delivered three business days prior to the legal consummation date.


At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: The Basics of Your Home’s Square Footage

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