A Closing Disclosure is a final statement of loan terms and closing costs that the lender must provide to the borrower no less than three business days before closing. The statement lists the loan terms, projected monthly payments, cash necessary to close the sale, and a detailed accounting of the closing costs.  The three-day review period allows the borrower time to review the Closing Disclosure and compare it with the loan estimate, which the borrower should have received when he or she applied for the loan.