How long before closing must the closing disclosure be provided to borrowers?

• A. At least one day before
• B. At least three days before
• C. At least five days before
• D. At least one week before

Answer: (B)

The required time frame for providing the closing disclosure to borrowers is at least three days before the actual closing of the loan. This regulation is in place to ensure that borrowers have sufficient time to review the terms and conditions of their loan agreement, as well as the associated costs. The three-day window allows them to understand all financial implications, verify closing costs, and ask any necessary questions or address concerns before signing the final documents. This consumer protection measure helps to promote transparency in the mortgage process and ensures that borrowers are well-informed prior to committing to the loan.