[PA] [dumb question] Initial closing disclosure – does that mean the mortgage is fully approved?

Hey all –

Apologies, I'm sure this is a dumb question, but I've never bought a house before so it's all new to me!

We had conditional approval from our bank and needed to provide a few documents for approval. I didn't hear anything for a few days, and now we received the initial closing disclosure in the mail.

The cover letter states "this is the initial closing disclosure setting forth the transaction costs of the mortgage loan. This closing disclosure is based on the current information available to us at this time."

Is this basically our "final" approval? Are there steps after this?

I'm stressed about the mortgage approval (for no good reason, really…this is all just so new to me) and just want to be sure everything is moving in the right direction before I tell my landlord we're moving.


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