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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 ... read more

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 mus... read more

Page 3 of your Loan Estimate includes measures to help you 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... read more

Page 2 of the Loan Estimate provides the current ESTIMATED cash to close. Some costs will stay the same between estimate and closing. Some will change. A - Origination Charges - should match. B - Can’t Shop - 10% Tolerance C -... read more

Real estate transactions require taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while “transfer taxes” may be impo... read more

These costs are paid to outside parties and YOU are free to shop and compare providers for a variety of services. These might include pest inspection, or  a survey to verify property lines or a range of Title-related services. Title services might inclu... read more

These costs are paid to outside parties, not the lender, but you don’t get to choose them. They may include: appraisal, which puts a value on your property on the lender’s behalf a credit report on you fees to assess flo... read more

Closing costs are fees paid when the title of the property is transferred to the buyer making them the legal owner. Origination Charges are fees collected by the lender for the loan process. They may including fees for handling the loan application and “Ori... read more

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... read more

Yes, if circumstances change, such as: a natural disaster damages the property or affects closing costs the title insurer providing the estimate goes out of business during underwriting new information on you or the transaction affe... read more