Final answer:
The correct answer is option c) Prior to the closing.
Step-by-step explanation:
The buyer typically finds out how much money to bring to the closing prior to the closing. This amount is usually communicated by the closing agent or attorney a few days before the actual closing date. They will send a document known as the Closing Disclosure, which lays out all the costs associated with the transaction, including the down payment, mortgage fees, title insurance, prorations, and any other prepaid items.
The Closing Disclosure should be provided to the buyer at least three business days before the closing to give the buyer the opportunity to review the final costs. This is required by the Consumer Financial Protection Bureau's (CFPB) TRID (TILA-RESPA Integrated Disclosure) rules, which aim to better inform homebuyers of the costs and terms of their loan.