Understanding Your Loan: Closing Disclosure Page 1

The first page of your Closing Disclosure documents: 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...

Understanding Home Loans: The Most Important Information

Understanding home loans becomes a necessity when you are buying a home. Page 4 of your Closing Disclosure in your mortgage packet is important. It is NOT just standardized form information that is identical for every home loan. Review these terms: Assumption: can...

Free Gifts Title Agents Can Use

This is part 4 of a 7 part series entitled 7 Website Best Practices for Title Agents. I hope you are enjoying the tips like how to make your website more useful than your competitors.  Anyway, on to today’s tip. You should always provide a free digital giveaway for...

Understanding Your Loan: Cash And Transaction Summaries

Page 3 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 will need...

Understanding Your Loan: Closing Cost Details

Page 2 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 figures should match...

Your Rights And Rules For Closing Disclosures

The Closing Disclosure documents the actual terms of your loan transaction. 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, your lender...