by ttdev | Feb 25, 2019 | TRID
Real estate transactions require taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while “transfer taxes” may be imposed by states, counties and municipalities on real estate...
by ttdev | Feb 25, 2019 | TRID
These costs are paid to outside parties and YOU are free to shop and compare providers for a variety of services. These might include pest inspection, or a survey to verify property lines or a range of Title-related services. Title services might include: a...
by ttdev | Feb 25, 2019 | TRID
These costs are paid to outside parties, not the lender, but you don’t get to choose them. They may include: appraisal, which puts a value on your property on the lender’s behalf a credit report on you fees to assess flood risk of your property, or for ongoing...
by ttdev | Feb 25, 2019 | TRID
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 borrowing. But the Interest Rate alone doesn’t represent all of your borrowing costs. The APR figure on Page 3...
by ttdev | Feb 25, 2019 | TRID
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 secured by vacant land or by 25 or more acres. The rule does NOT apply to Home...
