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Understanding Your Loan: Closing Disclosure Page 1
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-payme...
Understanding Your Loan: Additional Information Can Be Important
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?
...
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Video Post
How Does Purchasing A Home Compare With Renting?
Like the guy in the video says, the two don't really compare at all.
The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity take advantage of tax benefits and protect yourself a...
How Do Lenders Decide The Maximum Loan Amount That Buyers Can Afford?
As you’ll see in the video, the lenders consider your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses.
Non-housing expenses include such long-term debts as car or student loan payments, alimony, o...
How Can I Find Out Information About My Credit History?
Watch this video and take a few notes! There are three major credit reporting companies:
Equifax - www.equifax.com 1-800-685-1111
Experian - www.experian.com 1-888-397-3742
Trans Union - www.transunion.com 1-800-916-8800
...
What Is A Credit Bureau Score And How Do Lenders Use Them?
As we show you in this video, a credit bureau score, or “credit score” is a number based upon your credit history that represents the possibility that you will be unable to repay a loan.
Lenders use it to determine your ability to qualify for a mortgage l...
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