What is a Truth-in-Lending disclosure for a mortgage loan?

Effective October 3, 2015, for most kinds of mortgage loans a form called the Loan Estimate  replaced the initial Truth-in-Lending disclosure, and a Closing Disclosure replaced the final Truth-in-Lending disclosure.

If you applied for a mortgage before October 3, 2015, or if you are applying for a reverse mortgage, a HELOC, a manufactured housing loan that is not secured by real estate, or a loan through certain types of homebuyer assistance programs, you should receive a Truth-in-Lending disclosure.

You receive a Truth-in-Lending disclosure twice: an initial disclosure when you apply for a mortgage loan, and a final disclosure before closing. Your Truth-in-Lending form includes information about the cost of your mortgage loan, including your annual percentage rate (APR).