Where is the simple interest rate of a mortgage loan reflected?

The simple interest rate of a mortgage loan is reflected in the promissory note, which is a legal document that outlines the borrower's promise to repay the loan under specific terms. The note includes critical information such as the loan amount, interest rate, repayment schedule, and the duration of the loan. The interest rate specified in the note is essential because it directly affects the amount of interest the borrower will pay over the life of the loan.

While documents like the title commitment, loan estimate, and closing disclosure may provide various important details related to the mortgage transaction, they do not contain the specific terms of the interest rate in the same manner as the note. The loan estimate offers a summary of key loan terms, including estimated costs and interest rates, but does not serve as the definitive document containing the actual promise to pay under those terms. The closing disclosure provides a detailed breakdown of all final costs at closing but likewise does not define the interest rate as the note does. The note is the primary source for the specific details of the interest rate associated with the mortgage loan.