This field map clarifies paired entries across loan terms and projected payments sections of Closing Disclosure Page 1. It is designed for use with your physical or digital mortgage closing folder to catch mismatches before you sign final closing paperwork. All entries are cross-referenced to the Consumer Financial Protection Bureau’s required standard CD layout to eliminate confusion between lender-customized formatting variations. Margin Desk created this guide for educational use only; never sign a CD without confirming discrepancies directly with your loan officer or licensed closing agent.
Loan term box cross-mapping guidelines
Start by verifying the core loan identifiers in the top-left Loan Terms box against the header of the top-right Projected Payments section. The loan type (fixed-rate, adjustable-rate, interest-only) listed on Line 1 of the Loan Terms box must exactly match the loan type labeled in the Projected Payments header; if the Loan Terms box lists a 15-year fixed loan, the Projected Payments section cannot include disclosures for adjustable rate resets or interest-only payment periods. Next, cross-reference the loan amount listed on Line 1a of Loan Terms with the principal amount used to calculate your base principal and interest (P&I) payment in the Projected Payments section. Even a $1,000 mismatch in loan amount can alter your monthly payment by several dollars, so confirm all digits align, including any financed closing costs added to your original principal balance. Finally, check the prepayment penalty (Line 1d) and balloon payment (Line 1e) indicators: if either box is marked “Yes” in Loan Terms, that risk must be explicitly disclosed in the footer of the Projected Payments section, including the exact amount of any balloon payment due and the time frame for prepayment penalty applicability. Illustrative example: If your Loan Terms box lists a $325,000 30-year fixed loan with no prepayment penalty and no balloon payment, the Projected Payments header should not include any language about rate adjustments or balloon payment due dates. If such language appears, flag it for immediate review with your lender before proceeding with closing.
Interest rate column alignment instructions
The note rate listed on Line 1b of the Loan Terms box is the foundational input for your monthly P&I payment, so even a 0.125% discrepancy can add hundreds of dollars to your annual housing costs. First, confirm that every digit of the note rate in Loan Terms matches the rate used to calculate the Year 1 P&I payment in the Projected Payments section. For adjustable-rate mortgages (ARMs), cross-reference the initial rate, initial rate period, and first adjustment date listed in the Loan Terms box with the corresponding entries in the adjustable rate payment table within Projected Payments. If you negotiated a temporary rate buydown as part of your loan terms, the discounted first-year rate listed in the special provisions section of Loan Terms must align with the reduced P&I payment listed for Year 1 in Projected Payments, and the step-up schedule for rates in Years 2 and 3 must match the corresponding payment increases in the schedule. Illustrative example: A 2.75% note rate listed in Loan Terms should produce a base P&I payment of $1,327 for the $325,000 30-year fixed loan referenced earlier; if the projected P&I is listed at $1,382, that corresponds to a 2.875% rate, indicating a mismatch to flag with your lender. Keep a printed copy of your signed loan estimate in your closing folder to compare against the CD rate to ensure no last-minute changes were made without your written consent.
Projected payment schedule comparison steps
Use the field map table below to cross-reference paired entries across both sections, and log all discrepancies in your closing folder for lender review:
| CD Page 1 Section | Field Name | Expected Match Location | Discrepancy Flagging Action |
|---|---|---|---|
| Loan Terms (Left Column, Top) | Loan Amount (Line 1a) | Projected Payments Section, Base P&I Calculation Input | Circle both values, attach a printed amortization schedule to your closing folder for lender review |
| Loan Terms (Left Column, Top) | Note Rate (Line 1b) | Projected Payments Section, Year 1 P&I Calculation | Highlight mismatched digits, note the difference in monthly P&I cost on your addendum sheet |
| Loan Terms (Left Column, Middle) | Prepayment Penalty Indicator (Line 1d) | Projected Payments Section, Footer Disclosures | Add a sticky note requesting written confirmation of penalty terms if the entry is not duplicated in both sections |
| Loan Terms (Left Column, Middle) | Balloon Payment Indicator (Line 1e) | Projected Payments Section, Final Payment Row | Flag for immediate resolution if a balloon payment is listed in one section but not the other |
| Loan Terms (Left Column, Bottom) | Mortgage Insurance Duration (Line 2c) | Projected Payments Section, Mortgage Insurance Payment End Date | Cross-reference with your loan contract’s PMI cancellation terms, submit a written request for clarification if dates do not align |
Follow these sequential steps to complete the cross-mapping process: First, pull a blank copy of the standard CFPB Closing Disclosure template from the CFPB website to map any lender-customized field labels to the standard naming conventions used in the table above. Second, cross-reference each field listed in the table before reviewing any other sections of the CD, as these core mismatches are the most likely to cause long-term financial strain. Third, calculate the total monthly payment for Year 1, Year 2, and any post-adjustment periods for ARMs to ensure the combined P&I, mortgage insurance, and escrow amounts align with the terms you agreed to during loan origination. Save all flagged discrepancies in your closing folder with dated notes of conversations with your lender to create a paper trail of any requested changes.
Closing cost fee row validation checks
While most closing cost details appear on Page 2 of the Closing Disclosure, several fee-related entries on Page 1’s Loan Terms section directly impact your projected monthly payments. First, confirm the escrow account indicator on Line 2a of Loan Terms matches the inclusion of property tax and homeowner’s insurance line items in your projected monthly payment. If the Loan Terms box indicates you have an impound (escrow) account, your projected payment must include recurring escrow deposits; if you opted to waive escrow, these line items should be removed from your monthly payment and you will be responsible for paying taxes and insurance directly. Next, cross-reference the origination fee percentage listed on Line 2b of Loan Terms with the total origination charges on Page 2 of the CD, and confirm any financed closing costs are added to the loan amount used to calculate your P&I payment. If you paid discount points to reduce your interest rate, confirm the point amount listed in Loan Terms aligns with the reduced note rate and corresponding P&I payment in the Projected Payments section. Illustrative example: If you financed $6,500 in closing costs into your loan, your total loan amount used for P&I calculations should be $331,500 rather than the original $325,000 purchase price principal, which will increase your monthly P&I by roughly $28 for a 30-year fixed 2.75% loan. If your projected P&I does not reflect this increase, you may have been charged for closing costs both upfront and in your loan amount, which requires immediate correction.
Prepaid expense note annotation details
Prepaid expenses are amounts paid at closing to cover interest, insurance, and tax costs before your first regular mortgage payment is due, and these entries must align across both Loan Terms and Projected Payments sections to avoid overcharging. First, note the number of prepaid interest days listed in the Loan Terms fee section, and confirm the first payment due date listed in the Projected Payments header aligns with this timeline. For example, if you close on the 15th of March, you will typically pay 16 days of prepaid interest for the remainder of March, and your first mortgage payment will be due May 1, which must be clearly stated in the Projected Payments header. Next, cross-reference the prepaid escrow deposits for homeowner’s insurance and property taxes listed in Loan Terms with the recurring escrow payment amount in Projected Payments to ensure you are not being charged twice for the same coverage period. If you paid for upfront mortgage insurance (UMI) at closing, confirm the duration of mortgage insurance coverage listed on Line 2c of Loan Terms aligns with the date that mortgage insurance is removed from your projected monthly payment. Add a copy of your signed homeowner’s insurance declaration page and most recent property tax bill to your closing folder to validate the escrow amounts used in your projected payments, and note any mismatches on a sticky note attached directly to the CD for your closing agent to address.
Before signing your final Closing Disclosure, attach a printed copy of this field map to your closing folder and initial each cross-checked field to confirm you have reviewed all paired entries for accuracy.