The first page of your Loan Disclosure shows the Loan Terms Projected Payments and Costs at Closing. The Loan Amount, of course is the total you are borrowing. But the Interest Rate alone doesn’t represent all of your borrowing costs. The APR figure on Page 3 shows that. Likewise, Monthly Principal & Interest aren’t the complete amount you will actually PAY each month. The Projected Payments figures add other costs, such as Mortgage Insurance Estimated Escrow, Taxes, Insurances and Assessment to show the approximate amount you will pay each month, over time. The Estimated Closing Costs are directly loan-related. while the Estimated Cash to Close adds other known closing costs to tell you the estimated cash you’ll need to have to close this loan.
TitleTap provides turn-key websites and marketing tools like Video, Social Media Management, and Email Marketing for Title Agents and Real Estate Attorneys. Get more great marketing tips like this specifically relevant to Real Estate, Title Insurance, Mortgage Lending, and Law by subscribing or visiting our blog above.
Latest posts by TitleTap (see all)
- TitleTap Partners with Paymints.io on Online Payment Website Integration - July 16, 2021
- Not Every Website is Created Equal: How To Pick The Right Provider For Your Law Firm or Title Company - April 29, 2021
- TitleTap Adds Website Integrations for Qualia, Closer’s Choice, Alanna.ai, Zoccam and more to their HUB - April 23, 2021