Down Payment Assistance Documents: Beyond the Closing Disclosure
Ask for the full set of papers for your down payment help before you sign. The main mortgage Closing Disclosure is not always the whole packet. Ask which papers apply to the program you chose. Then check how those papers fit together. Mark any question you cannot answer.
This is a check of the separate assistance papers, not a guide to cash to close. It does not replace a review of your main mortgage forms. It helps you ask clear questions about the help you plan to use.
Get the full packet first
Start with your lender or the office that runs the program. Ask for the current set of forms and the name of the person who can explain each one. You can also ask the person who handles your closing for help with the closing papers.
The Consumer Financial Protection Bureau, or CFPB, says to request closing papers in advance. It also says to ask about errors or terms you do not understand. Use its guide to reviewing documents before closing as a starting point.
Do not assume that all programs use the same forms. Certain subordinate assistance loans use Truth-in-Lending disclosures instead of a Loan Estimate and Closing Disclosure. Ask your lender which forms apply to your assistance loan. Do not assume that the forms for your main mortgage cover both loans.
Know what each paper is for
A promissory note sets out a loan's debt and payment terms. A mortgage, or security instrument, uses the property as security for the loan. These papers serve different purposes. Ask the lender to explain what each one means for your loan.
The CFPB explains the note, mortgage and other papers you may receive. That page also explains the disclosure exception for certain assistance loans. It does not decide which forms your specific loan needs.
Use this list to ask about the papers in your own packet. It is not a rule that every program must use every item.
| Paper | Question to ask |
|---|---|
| Award or approval | What help does this describe? Which terms or conditions still apply? |
| Loan disclosures | Are these the right forms for this loan? Who can explain them? |
| Promissory note | What debt and payment terms does this note set out? |
| Mortgage or security instrument | Which loan does this secure with the home? |
| Program agreement | What duties does this list? Does it refer to other papers? |
Ask what each amount means
Do not assume that an award, a note and a closing form must show the same amount. Ask what each figure means. Does it show the help being paid out, the debt you would owe, or a different cost?
A match alone does not answer those questions. A difference alone does not explain the cause. Ask your lender and the program office to explain the figures and any gap between them. Do not guess which paper is right.
Check your name, the home address and the program name across the packet. Look at dates and references to other papers, too. If a form points to an attachment you do not have, ask for it. Ask who can fix an error before you sign.
A local example, not a rule for all programs
The Pinellas County HOME guide lists an award, a Homebuyer Agreement, a note, a mortgage and closing items. This shows why one main mortgage form may not be the whole program packet.
The guide's revision date and current terms have not been verified. Use it only as an example of separate papers. Do not use it to decide what another program needs or whether funds are available now. Ask the program office and lender for the current rules and forms for your file.
Leave with a clear next step
Put related papers together. Mark the places you want explained. Before you sign, ask:
- Is this the full, current packet for my program?
- Which forms apply to this assistance?
- What does each amount mean?
- Are all the papers named in these forms included?
- Who can explain the terms or fix an error?
For help with the broader choice of local programs, see our guide to St. Petersburg first-time homebuyer programs. For questions about costs due at closing, see our cash-to-close guide. This article is educational. It is not an approval decision or legal advice about your papers.
