Related FAQs
Discover what a mortgage note is, the important loan terms it includes, and why this document plays a crucial role in finalizing your home loan at closing. Read more
Discover what a mortgage note is, the important loan terms it includes, and why this document plays a crucial role in finalizing your home loan at closing. Read more
This 3-page form provides you with important information, including the estimated interest rate, monthly payment, and closing costs of your loan. It’s a standard form that all lenders are required by law to provide you within three business days of submitting your application. A Loan Estimate is important for comparing pricing across lenders, and because this document commits a lender to certain fee tolerances it reduces the risk of a bait-and-switch offer. Read more
This 3-page form provides you with important information, including the estimated interest rate, monthly payment, and closing costs of your loan. It’s a standard form that all lenders are required by law to provide you within three business days of submitting your application. A Loan Estimate is important for comparing pricing across lenders, and because this document commits a lender to certain fee tolerances it reduces the risk of a bait-and-switch offer. Read more
Settlement costs (also known as closing costs) are the fees that the buyer and/or seller have to pay to complete the sale of the property. Depending on the lender, these may include origination fees, credit report fees, and appraisal fees, as well as property taxes and recording fees. Read more
Settlement costs (also known as closing costs) are the fees that the buyer and/or seller have to pay to complete the sale of the property. Depending on the lender, these may include origination fees, credit report fees, and appraisal fees, as well as property taxes and recording fees. Read more