Loan Estimate & Closing Disclosures Explained: What first-time home buyers need to know about their LE and CD

Loan Estimate & Closing Disclosures Explained: What first-time home buyers need to know about their LE and CD

Loan Estimate & Closing Disclosures Explained: What first-time home buyers need to know about their LE and CDMelissa Kerick
Published on: 13/07/2024

The Loan Estimate and Closing Disclosures are forms that you’ll receive before closing on your home.

loan estimateclosing disclosuresknow before you owemortgage costshome purchase feesmortgage advisorclosing costsmonthly mortgage paymentslifetime loan costspre-approvalmortgage typeloan amountinterest ratecash to closeannual percentage rateAPRTotal Interst PercentageTIPorigination chargestaxes and insurance feesappraisal feetitle feesrecording feestransfer taxesrevised loan estimatechange in circumstancesfinancial disclosurehomebuying processmortgage planningfinancial preparation
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Interest Rate, APR, and TIP: What’s the difference?

Interest Rate, APR, and TIP: What’s the difference?

Interest Rate, APR, and TIP: What’s the difference?Melissa Kerick
Published on: 28/06/2024

After completing the mortgage application, getting pre-approved for a home loan, and finding a property you’d like to purchase, your mortgage advisor will be able to write up a Loan Estimate.

Loan estimateinterest rateannual percentage rateAPRtotal interest percentageTIPmortgage applicationpre-approvedhome loanclosing costsmonthly paymentsprincipal amountmonthly interest paymentmarket ratescredit scoreloan amountdown paymentloan termtype of mortgagerefinancefinance costslending feespointsmortgage broker feesprepaid finance chargesadmin feeslender fees
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