Simplifying Mortgage Disclosure Forms
Mortgage terms will be simpler for home buyers to read and understand come Aug. 1. Borrowers will receive one disclosure, the Loan Estimate, detailing the terms and projected closing costs shortly after application, and another, the Closing Disclosure …
Read more on New York Times
CFPB Disclosure Regime Could Force Smaller Lenders Out of Mortgages
Google+. WASHINGTON — Still reeling from underwriting guidelines that went into effect last year, some small lenders are worried that a new mortgage disclosure regime might be the thing that pushes them over the edge. On its face, the … One key …
Read more on National Mortgage News
Weigh refinancing pros, cons while rates still low
Then, get an estimate of all other costs, including title insurance, an appraisal and a closing fee. Lenders sometimes charge “points,” or origination fees, which are also part of your closing costs. One point equals 1 percent of the loan's value …
Read more on The Detroit News
A Second Reason to Smile About Mortgages This Week?
Come August 1, reports The New York Times, mortgage terms will be simpler for potential buyers to understand. "Borrowers will receive one disclosure, the Loan Estimate, detailing the terms and projected closing costs shortly after application, and …
Read more on Habitat magazine
How Much Cash Do You Really Need to Buy a Home?
Closing costs are another factor to take into consideration that go beyond your down payment funds in procuring a mortgage to buy a home. If you can come up with the down payment, you can always ask for a seller credit for closing costs or even obtain …
Read more on STLtoday.com
Better to Buy or Rent?
You also must factor in a number of recurring costs: your mortgage, annual property taxes, insurance, standard maintenance, home improvements and applicable condo or neighborhood association fees. Then, there are the emergency reserves you want to have …
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