Do I have to sign at closing if I do not like the loan terms?

The CFPB says you do not have to sign unless you are satisfied with the terms. It also warns against signing papers you do not understand or a loan you do not think you can repay. If you are refinancing an existing mortgage, the CFPB says you generally have no contract duty to sign the new loan papers.

A purchase is different. A contract with the seller may limit how much time and flexibility you have to close, and breaking it can lead to legal action. The CFPB says a cancelled purchase can mean losing the deposit paid to the seller, and the seller may have other rights. A mortgage contingency clause — also called a financing or loan contingency — may say whether that deposit is refunded if the sale fails because a loan cannot be obtained.

If the Loan Estimate or Closing Disclosure you should have received before closing contains errors or unexpected additions, those items may be correctable at the closing. The CFPB notes that it is usually in everyone's interest for a correct closing to proceed. Whether to leave the table, seek another loan, or ask for more time is a contract question. This is general information, not advice to walk away from a particular sale. The CFPB lists a complaint channel — online or by calling (855) 411-CFPB (2372) — as one way to report a concern.