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What Kinds Of Loans Do TRID Disclosures Cover?

http://bucket.wistia.com/medias/ncz00fcx76?embedType=async&videoFoam=true&videoWidth=640 TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans,...

Understanding Your Loan: Cash And Transaction Summaries

http://bucket.wistia.com/medias/zu9meefo7l?embedType=async&videoFoam=true&videoWidth=640 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...

Understanding Your Loan: Closing Cost Details

http://bucket.wistia.com/medias/aumce0988y?embedType=async&videoFoam=true&videoWidth=640 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...

Your Rights And Rules For Closing Disclosures

http://bucket.wistia.com/medias/dd7fing8pr?embedType=async&videoFoam=true&videoWidth=640 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...

Understanding Your Loan: Closing Disclosure Page 1

http://bucket.wistia.com/medias/gz5dzwp37m?embedType=async&videoFoam=true&videoWidth=640 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...

What Is RESPA?

http://bucket.wistia.com/medias/8n90fhjeyp?embedType=async&videoFoam=true&videoWidth=640 RESPA stands for the Federal Real Estate Settlement Procedures Act. This video tells you about it all. RESPA requires lenders to disclose information to potential...

What Costs or Fees Are Associated With Loan Origination?

http://bucket.wistia.com/medias/8umbc3doe9?embedType=async&videoFoam=true&videoWidth=640 Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you'll be required to pay a loan application fee to cover the...

What Makes Up Closing Costs?

http://bucket.wistia.com/medias/5jh3rqnpa3?embedType=async&videoFoam=true&videoWidth=640 What you’ll see in this video is, there may be closing costs customary or unique to a certain locality but closing costs are usually made up of the following: Attorney's...

How Can The FHA Assist Me In Buying A Home?

http://bucket.wistia.com/medias/j0uwo4j944?embedType=async&videoFoam=true&videoWidth=640 Remember these points from the video:the FHA works to make homeownership a possibility for more Americans. With the FHA, you don't need perfect credit or a high-paying job...

What Are VA Home Loans?

http://bucket.wistia.com/medias/6mi18xle93?embedType=async&videoFoam=true&videoWidth=640 What Are VA Loans? As the video says, the name is misleading - they’re not loans FROM the VA. The VA - short for “US Department of Veterans Affairs” - is the...

What Is A Certificate of Eligibility, or COE?

http://bucket.wistia.com/medias/lq8m1vs63k?embedType=async&videoFoam=true&videoWidth=640 What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers,...

What Is A Rate Lock?

http://bucket.wistia.com/medias/zj53n08v9k?embedType=async&videoFoam=true&videoWidth=640 Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term 'rate...

What Is A Qualified Mortgage?

http://bucket.wistia.com/medias/wnz8jpc3t0?embedType=async&videoFoam=true&videoWidth=640 As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms...

Understanding Your Loan: Additional Information Can Be Important

http://bucket.wistia.com/medias/gqrf3m3blr?embedType=async&videoFoam=true&videoWidth=640 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...

What Does Ability To Repay Mean?

http://bucket.wistia.com/medias/zdodqjb0hv?embedType=async&videoFoam=true&videoWidth=640 What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity...