What Is A Certificate of Eligibility, or COE?

by | Jul 16, 2018 | VA Loans:

What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most lenders...

What Is A Rate Lock?

by | Jul 16, 2018 | New Homes

Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term ‘rate lock.’ A “Rate Lock” is a guarantee that a lender will honor a specific combination of interest...

When Do I Get My Loan Closing Disclosure?

by | Jul 16, 2018 | TRID

If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business days before consummation. It must be in writing, whether paper or digital, and disclose ONLY the...

Understanding Your Loan: Closing Disclosure Page 1

by | Jul 16, 2018 | TRID

The first page of your Closing Disclosure documents: The Loan Amount – the total you will actually borrow The Interest Rate – which does NOT include the fees factored into the APR on Page 5 If this loan has a penalty for pre-payment or includes a balloon...