What is a single entry on a Closing Disclosure?

A single entry on a Closing Disclosure represents a debit to one party only. This indicates that a specific cost or expense is charged solely to either the buyer or the seller without being shared or offset by another party. This is vital for understanding how costs are allocated during the closing process of a real estate transaction.

In the Closing Disclosure, individual entries will reflect various costs associated with the transaction, such as loan fees, seller concessions, or other expenses. When an entry is labeled as a debit for one party, it implies that this party is responsible for that specific cost, and it will be deducted from their account as part of the closing.

Understanding how entries are categorized—either as debits or credits—helps both buyers and sellers to clearly see their financial responsibilities and the overall cost of the transaction. This is particularly important during the final stages of a real estate deal, as clarity helps avoid misunderstandings regarding who pays for what, ultimately ensuring a smoother closing process.