Closing Document Examples

Below you will find examples of a few typical loan documents. Please keep in mind that the exact terms of your loan are determined by your lender; therefore, your final paperwork may vary from the examples shown here.

Consumer Financial Protection Bureau (CFPB) Closing Disclosure

Fixed Rate Note

FHA Note

Adjustable Rate Note *there are many different kinds of adjustable rate programs. This example reflects a “5/1 ARM” – meaning that for 5 years your rate will not change. At the 5 year mark, your rate will begin to adjust as per the terms of your loan program and the rate will continue to adjust every 12th month thereafter. How much your rate will change on each change date will vary depending on the terms of your loan program as well as the market rate at that time. Your loan program will also set specific limits on how high or low your rate can go on each change date – so you will know the potentially “worst case scenario” or “best case scenario” at closing. Be sure to discuss your specific loan terms with your lender.

Interest Only Note *Interest Only loans are typically “interest only” for a specific period of time, 10 years for an example. After that time period, your monthly payment will increase to include a principal amount as well. Be sure to discuss your specific loan terms with your lender.

Virginia Deed of Trust