Finance
An Arizona lender must provide a Closing Disclosure to a borrower at least how many business days before closing?
A1 business day
B2 business days
C3 business days✓ Correct
D5 business days
Explanation
Under TRID, lenders must provide the Closing Disclosure to the borrower at least 3 business days before consummation (closing) of the loan, giving the borrower time to review final terms.
People Also Study
Related Arizona Questions
- An Arizona buyer receives a Closing Disclosure (CD). Under TRID rules, the borrower must receive the CD at least:Escrow & Title
- Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?Finance
- In Arizona, a lender must provide a Loan Estimate to a mortgage applicant within how many business days of receiving a complete application?Finance
- In Arizona, earnest money deposits must be deposited into a trust account within how many business days of acceptance?Arizona License Law
- An Arizona property has an annual property tax bill of $3,600. The tax is paid in two installments. The seller is closing on October 1. Using a 365-day proration, how many days of taxes has the seller already 'used' (January 1 through September 30)?Real Estate Math
- In Arizona, the Closing Disclosure (CD) replaced which prior document under TRID?Escrow & Title
- In Arizona, a lender who fails to comply with TRID disclosure requirements may face:Finance
- An Arizona tenant who wishes to terminate their month-to-month lease must provide the landlord with how many days' notice?Contracts
Key Terms to Know
Debt-to-Income Ratio (DTI)
A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
Study This Topic
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →