Mortgage Glossary
Clear to Close
Also called: ctc, cleared to close
Definition
Underwriting has signed off on the file and the lender is ready to prepare closing documents.
Why it matters
It is the point where a closing date becomes reliable, though large new debts or job changes can still create problems before funding.
Related terms
- Underwriting
- The lender's review of credit, income, assets and the property to confirm the loan meets program guidelines.
- Closing Disclosure
- The final statement of loan terms and costs, which must be received at least three business days before closing.
Written by
Manny Oloyede, Mortgage Broker
NMLS #1824463 | Ultimate Mortgage Brokers LLC NMLS #2619461 | Licensed in OH | KY | NC | PA | SC | TN | TX
I have worked in mortgage lending since 2018 out of the Akron / Cuyahoga Falls Branch, helping buyers, homeowners and investors across Northeast Ohio and every state where I am licensed. These guides reflect the questions I answer most often, written the way I would explain them on a call.
General education only, not financial, legal or tax advice, and not a commitment to lend. Guidelines vary by program and change over time. Manny Oloyede, NMLS #1824463. Ultimate Mortgage Brokers LLC, NMLS #2619461. Licensed in OH | KY | NC | PA | SC | TN | TX. Equal Housing Opportunity.
Want this applied to your actual numbers?
Definitions are the easy part. What matters is how the guideline reads against your income, credit and property.