The closer you work with your loan originator, the quicker the loan will move through the process. What is involved in the process? Step One: Complete the loan application; Lenders require a fully completed application. This includes providing a 2 year residential and employment history. Lenders will email the Loan Estimate to you...
Tag: disclosure
Post
WHAT DOES THE CLOSING DISCLOSURE CONTAIN?
The CD also contains the loan amount, interest rate, monthly payment, and amount due at closing. The Closing Disclosure (“CD”) is the latest version of the costs and prepaid expenses on the loan. The numbers on the CD are intended to be the final figures for closing. The CD must be acknowledged (typically by email)...
Post
BENEFITS OF WORKING WITH A COUNSEL MORTGAGE GROUP BROKER
What is the benefit of working with a mortgage broker and why a Counsel Mortgage Group broker? As you can see from our website, the professional experience of the loan originators at Counsel Mortgage Group is unmatched in the industry. When I looked for a mortgage loan the first time I purchased a home, I...
Post
IS IT MOVE-IN READY?
In order to get a mortgage, the property condition must be move-in ready; it must be habitable and safe. I often get asked if there is a list of items the house must have in order to meet the habitability standard, but there is not, as it is on a case-by-case basis. Here is a...
Post
HOME MORTGAGE DISCLOSURE ACT
You may be asked to provide more information regarding your race and ethnicity when applying for a mortgage loan. Pursuant to the Home Mortgage Disclosure Act (HMDA), lenders collect this information to ensure applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. Applicants are asked their demographic information...