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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 loan be transferred to another person if you sell or transfer the property? ...

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.

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 ...

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...

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 change ...

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 s...

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 include:

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 flood risk ...

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 “Origina...

Creditors are generally bound by the initial Loan Estimate. They are permitted to provide a revised Loan Estimate only under certain changed circumstances. These include circumstances that: a) increase settlement charges beyond the legal tolerance limits b) af...