by perfectiontitle | Jun 22, 2020 | TRID
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...
by perfectiontitle | Jun 22, 2020 | TRID
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...
by perfectiontitle | Jun 22, 2020 | TRID
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...
by perfectiontitle | Jun 22, 2020 | TRID
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...
by perfectiontitle | Jun 22, 2020 | TRID
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 – Can...
by perfectiontitle | Jun 22, 2020 | TRID
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 imposed by states, counties and municipalities on real...
