by Jennifer Ferri | Apr 13, 2018 | Buying, Financing, TRID
Applying for a loan for your purchase in the Fort Myers or Cape Coral areas and trying to understand the loan terms? 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...
by Jennifer Ferri | Mar 23, 2017 | TRID
Do the TRID rules apply to your Fort Myers or Cape Coral area real estate? TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and loans...
by Jennifer Ferri | Dec 8, 2015 | TRID
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? Demand: can the...
by Jennifer Ferri | Dec 8, 2015 | TRID
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 into the APR on Page 5 If this loan has a penalty for pre-payment or includes a...
by Jennifer Ferri | Jun 24, 2015 | 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 Close” is the money you will need...
by Jennifer Ferri | Jun 24, 2015 | 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...
