Step 45 of 48 Phase 6: Close & Move In
6.2 Review HUD-1
Carefully review your Closing Disclosure before signing. Verify that all terms match your expectations and flag any discrepancies immediately.
Key Sections to Review
- Loan terms (amount, interest rate, monthly payment)
- Projected payments (principal, interest, taxes, insurance)
- Closing costs (compare to Loan Estimate)
- Cash to close (verify amount)
- Loan calculations and payment schedule
Line-by-Line Review
| Section | What to Check | Common Issues |
|---|---|---|
| Page 1: Loan Terms | Rate, payment, balloon, prepayment penalty | Rate lock expiration |
| Page 2: Closing Costs | All fees by category | Unexpected fees |
| Page 3: Cash to Close | Total amount needed | Math errors |
| Page 4: Loan Disclosures | Assumptions, late payment policy | Unusual terms |
| Page 5: Contact Info | All parties listed correctly | Wrong names/addresses |
Pro Tips
- Compare every line to your original Loan Estimate
- Use the comparison feature built into the Closing Disclosure
- Question any fee that increased significantly
- Verify your name is spelled correctly
- Confirm the property address is correct