News & Events

What Is The Debt-To-Income Ratio (DTI)?

http://videotap.wistia.com/medias/6imxprr49s?embedType=async&videoFoam=true&videoWidth=640 Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a...

When Do I Get My Loan Closing Disclosure?

http://videotap.wistia.com/medias/45qzodp5xv?embedType=async&videoFoam=true&videoWidth=640 If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business...

Understanding Your Loan: Closing Disclosure Page 1

http://videotap.wistia.com/medias/xfk7n8o5a6?embedType=async&videoFoam=true&videoWidth=640 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...

Understanding Your Loan: Additional Information Can Be Important

http://videotap.wistia.com/medias/e50tmcix3w?embedType=async&videoFoam=true&videoWidth=640 Page 4 of your Closing Disclosure is important. It is NOT just standardized form information that is identical for every loan. Review these terms: Assumption: can this...

Understanding Your Loan: Cash And Transaction Summaries

http://videotap.wistia.com/medias/pzdr0j5mmq?embedType=async&videoFoam=true&videoWidth=640 Page 3 of your Closing Disclosure will compare cash requirements from your Loan Estimate to your actual final charges. If “Did this change?” is...

Understanding Your Loan: Closing Cost Details

http://videotap.wistia.com/medias/2euf1is73l?embedType=async&videoFoam=true&videoWidth=640 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...

Your Rights And Rules For Closing Disclosures

http://videotap.wistia.com/medias/pza7otk8pb?embedType=async&videoFoam=true&videoWidth=640 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...

Understanding Loan Estimate Comparisons

http://videotap.wistia.com/medias/qvqrn2hvw7?embedType=async&videoFoam=true&videoWidth=640 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...

Calculating Your Cash To Close

http://videotap.wistia.com/medias/etzzjdba6k?embedType=async&videoFoam=true&videoWidth=640 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...

Understanding Your Loan Estimate: Other Costs

http://videotap.wistia.com/medias/u1txgw73vf?embedType=async&videoFoam=true&videoWidth=640 Real estate transactions require taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records,...