Recently during a conversation with a local Realtor, we discussed common questions and misconceptions. One question that I had never heard was in regards to closing costs.
The Realtor’s buyer had asked the Realtor what “Settlement charges” were and if they…
Posted in Buying a Home, Mortgage 101, Mortgages
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How close an estimate are you given?
When you apply for a mortgage loan, lenders are required to offer a form known as the “Good Faith Estimate.” This form is supposed to provide the borrower with a realistic estimate of the costs…
Posted in Buying a Home, Mortgages, Refinance
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According to federal guidelines, lenders are required to provide mortgage loan applicants with certain documents within 3 days of application. Some of these basic documents include a Good Faith Estimate and a Truth in Lending Statement. These forms are to disclose to the…
Posted in Buying a Home, Mortgages
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