The Closing Disclosure is a crucial document provided by mortgage lenders that outlines the final terms and costs of a mortgage before closing. Required by the TILA-RESPA Integrated Disclosure (TRID) rule, it includes details such as loan amount, interest rate, monthly payments, and all closing costs. This document enables borrowers to compare final costs against initial estimates, ensuring transparency and allowing for review and clarification three business days before closing. It’s essential for confirming the accuracy of loan terms and financial commitments.