When you’re preparing to close on a home, you’ll receive several final documents outlining your loan terms, closing costs, and the exact amount each party must pay or receive. Two of the most important are the closing disclosure and the settlement statement (also called an ALTA settlement statement or, in older transactions, a HUD-1). Although the two forms often contain similar numbers, and those numbers must match, they aren’t interchangeable. A closing disclosure is a lender-required document that explains the details of your mortgage and must be delivered at least three days before closing. A settlement statement, on the other hand, is a closing agent–prepared document that shows the final, itemized costs of the transaction and is given to both the buyer and seller on closing day. Whether you’re closing in Boulder, CO , Memphis, TN , or Providence, RI , understanding how these documents work together can help you catch errors early and avoid last-minute surprises. What ...