What closing document details the buyers' mortgage information and sellers' payoff amount?

The document that details the buyers' mortgage information and the sellers' payoff amount is the settlement statement. This statement is crucial during the closing process as it outlines all financial transactions of the sale, including the breakdown of closing costs, adjustments, and the final debits and credits for both the buyer and the seller.

The settlement statement specifically includes vital details such as the amount financed, loan type, interest rate, and the total amount needed to pay off the seller's existing mortgage. This ensures that all parties are fully informed about the financial obligations tied to the property transfer.

The closing disclosure, while it also contains similar information, is primarily used to provide borrowers with the details of their mortgage loan before closing, rather than serving as a comprehensive overview of all financial aspects related to both buyers and sellers specifically at closing. The final walkthrough document is concerned with the condition of the property prior to closing, ensuring it meets the buyer's expectations, and does not include financial information. The transfer of title document is focused on the legal aspects of transferring ownership and likewise does not delve into the financial specifics of the transaction.