Will New Mortgage Disclosures Delay Your Closing?

According to the Consumer Financial Protection Bureau (CFPB), the answer is no for just about everybody.

The only 3 changes that would require a new three-day period:5855495153_ce2bec705f

  1. Increasing the annual percentage rate (APR) by more than 1/8 of a percentage point for a fixed-rate loan or ¼ of a percentage point for an adjustable-rate loan
  2. The addition of a prepayment penalty
  3. Changes in the loan product, from a fixed rate to an adjustable-rate loan, for example

Many things can (and probably will) change in the days leading up to closing that won’t require a new three-day period, including typos on the forms, problems discovered on a walk-through and most changes to payments made at closing, including changes that require seller credits.

To start the process of owning your own home and applying online, simply click HERE and take a few minutes to complete an online application.  Often times, you can be Pre-Approved in minutes!  

Or TEXT the word ‘LOAN’ to 38470

To see if you qualify for up to $17,668 in Free Government Down Payment Assistance, click Down Payment Assistance !  There is no first time home buyer requirement.

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