1. Module 3: The Closing Disclosure – Step by Step
8-Hour SAFE Comprehensive Continuing Education

2. Module 3: The Closing Disclosure – Step by Step
3.1 Page 1 of the Closing Disclosure Form
General Information
(1-2) Top of Page 1
(3) Closing Information
(4) Transaction Information
(5) Loan Information
Loan Terms
Projected Payments
Costs at Closing

3. Module 3: The Closing Disclosure – Step by Step
3.2 Page 2 of the Closing Disclosure Form
Loan Costs
(A) Origination Charges
Loan Originator Compensation
(B) Services the Borrower Did Not Shop For
(C) Services the Borrower Did Shop For
(D) Total Loan Costs (Borrower Paid)

4. Module 3: The Closing Disclosure – Step by Step
3.2 Page 2 of the Closing Disclosure Form
Other Costs
(E) Taxes and Other Government Fees
(F) Prepaids
(G) Initial Escrow Payment at Closing
(H) Other
(I) Total Other Costs (Borrower-Paid)
(J) Total Closing Costs
Lender Credits

5. Module 3: The Closing Disclosure – Step by Step
3. 3 Page 3 of the Closing Disclosure Form
Calculating Cash to Close
Calculating Cash to Close Table (1-8)
(1) Total Closing Costs
(2) Closing Costs Paid Before Closing
(3) Closing Costs Financed (Paid from Your Loan Amount)
(4) Downpayment/Other Funds from Borrower
(5) Deposit
(6) Funds for Borrower
(7) Seller Credits
(8) Adjustments and Other Credits
(9) Cash to Close

6. Module 3: The Closing Disclosure – Step by Step
3. 3 Page 3 of the Closing Disclosure Form
Summaries of Transactions
Borrower’s Transaction
(K) Due From Borrower at Closing
(L) Paid Already By or on Behalf of Borrower at Closing
Calculation: Cash to Close To or From Borrower
Seller’s Transaction
(M) Due to Seller at Closing
(N) Due from Seller at Closing
Calculation: Cash to Close Due to or From Seller

7. Module 3: The Closing Disclosure – Step by Step
3. 4 Page 4 of the Closing Disclosure Form
Loan Disclosure Table
Adjustable Payment (AP) Table
Adjustable Interest Rate (AIR) Table

8. Module 3: The Closing Disclosure – Step by Step
3. 5 Page 5 of the Closing Disclosure Form
Loan Calculations
Other Disclosures
Appraisal
Questions?
Contact Information
Confirm Receipt

9. Module 3: The Closing Disclosure – Step by Step
3.6 Activity Two – Closing Disclosure
Case Study
The Seller
Seller’s Broker
The Buyer
Buyer’s Lender and Loan Terms
Settlement (Escrow) Agent

10. Module 3: The Closing Disclosure – Step by Step
3.6 Activity Two – Closing Disclosure
Completing the Closing Disclosure
Actual Closing Costs
Loan Costs
Other Costs
Summaries of Transactions
Loan Disclosures
Loan Calculations and Other Disclosures