by faxonsettlement | Jun 7, 2017 | TRID
Page one of the Closing Disclosure: The Loan Amount – the total you will actually borrow The Interest Rate – which does NOT include the fees factored into the APR on Page 5 If this loan has a penalty for pre-payment or includes a balloon payment...
by faxonsettlement | Jun 24, 2015 | TRID
The third page of your Closing Disclosure will compare cash requirements from your Loan Estimate to your actual final charges. If “Did this change?” is “YES” notes for changed sections should be provided. The bottom line final “Cash to Close” is the money you...
by faxonsettlement | Jun 24, 2015 | TRID
The second page of your Closing Disclosure details specific closing costs. Section A includes: Origination charges collected by the lender Origination fees paid to brokers, loan officers or other parties and Discount Points – prepaid interest. These...
by faxonsettlement | Jun 24, 2015 | TRID
Your lender provides the closing disclosure which lists the terms of your mortgage. You should receive it no later than 3 business days before consummation. It must be in writing – paper or digital. If the loan terms or costs change prior to consummation,...
by faxonsettlement | Jun 24, 2015 | TRID
When shopping for a mortgage use page three of your loan estimate to compare loans. “In X Years” shows the total amount you will have paid in that time, and the dollar amount applied to your loan principal. The ratio between total paid and principal reduced may...
by faxonsettlement | Jun 24, 2015 | TRID
Thus, understanding the LE. Taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while “transfer taxes” may be imposed by states, counties and municipalities on real estate...
