Reconcile the closing disclosure
See this course’s project requirements
A fictional homebuying decision file with ownership costs, cash to close, comparable loan estimates and a closing discrepancy log.
Keep your working files in your own notebook or software. Save a private description, checklist, and work link in My Proof.
What to include
- A rent/ownership comparison with separate cash and principal columns.
- A cash-to-close and remaining-reserve worksheet.
- An annotated loan-estimate comparison sheet.
- A points/credit cash-flow comparison with break-even and limitations.
- A closing-disclosure reconciliation and clarification log.
- A completed fictional home-finance decision file.
Review and revise
Use these criteria to check your work and choose what to improve.
- All supplied records reconcile and the decision uses the named case rules.
- Calculations show units, intermediate values and a second check.
- Changed-input practice revises the affected result and identifies uncertainty.
- The final project combines six lesson records, separates fictional assumptions from current rules, and states a supported next step.
Want more background?
The idea in everyday life
This is an original fictional practice case. No account, payment, personal record or outside participation is required. Estimated down payment $6,000 plus charges $2,000; already-paid deposit $1,000 and lender credit $500. Revised disclosure charges are $2,300 with other items unchanged.
Trace cash to close from down payment, charges, credits and prior deposits; each credit must appear only once.
Reconcile the closing disclosure — worked practice
Trace cash to close from down payment, charges, credits and prior deposits; each credit must appear only once.
Use paper or a local table; label all amounts as fictional USD unless the case names another unit. Estimated down payment $6,000 plus charges $2,000; already-paid deposit $1,000 and lender credit $500. Revised disclosure charges are $2,300 with other items unchanged.
Estimate-to-disclosure reconciliation
Paste at A1.
| AClosing item | BEstimate USD | CRevised disclosure USD | DCash direction |
|---|---|---|---|
| Down payment | 6000 | 6000 | Add |
| Charges | 2000 | 2300 | Add |
| Prior deposit | 1000 | 1000 | Subtract |
| Lender credit | 500 | 500 | Subtract |
Copy as plain text
1. Step 1: Build the estimated cash-to-close equation
Build the estimated cash-to-close equation.
You should see: 6000+2000−1000−500=$6,500.
Trace cash to close from down payment, charges, credits and prior deposits; each credit must appear only once.
2. Step 2: Rebuild it using revised charges
Rebuild it using revised charges.
You should see: 6000+2300−1000−500=$6,800.
Keep this intermediate result so the final decision can be checked.
3. Step 3: Quantify and identify the changed line
Quantify and identify the changed line.
You should see: $300 increase caused by charges.
Keep this intermediate result so the final decision can be checked.
4. Step 4: Draft a clarification before any signing
Draft a clarification before any signing.
You should see: Ask why charges changed and independently verify payment instructions; the packet records review, not a real closing.
Keep this intermediate result so the final decision can be checked.
What to finish
A closing-disclosure reconciliation and clarification log.
Watch for this
Double-subtracting a deposit that is already included as a credit.
How can I tell I understand it?
Reconcile an estimated and revised closing cash amount and document the specific difference on the supplied changed case while preserving the stated rule and checking the final record.
Quick knowledge check
Answer all 3 questions. Get at least 2 right and the lesson completes automatically.
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Answer all 3 questions above and get at least 2 right. You can review the explanations and try again.
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Source & access notes · checked 2026-10-01
Official page opened/read during Money expansion authoring; checked the relevant concept and access state. These sources do not establish funding eligibility.
Access: Readable official webpage inspected with the web reader on 2026-10-01. No interactive-tool operation is claimed.
Reuse: Original fictional practice, questions and calculations; paraphrased concepts with a source link. No source exercise copied.
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