Closing Costs

Closing Costs 101

Closing costs are expenses over and above the price of the property in real estate transactions. They are basically a collection of administrative fees. Closing costs can include: Loan origination fees Discount points Appraisal fees Title searches Title insurance Surveys Taxes Deed-recording fees Credit report charges Before you sign your loan documents, you should have seen …

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Always Be Closing: The ABCs of Closing on a Home

Closing on a home should be the most exciting part. After all, this is when you actually get handed the keys and you can call yourself a homeowner. To many, however, closing can be confusing and a little intimidating, if you don’t know what to expect. We’ll break it down for you here.   What …

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Will the White House Veto a Formal Grace Period for TRID?

Last week we took a look at the launch of the new consumer protection measure for mortgage borrowers put in place by the Consumer Financial Protection Bureau (CFPB), called TRID. It went into effect October 4, and many in the industry predicted that the new requirements related to TRID would cause an initial slowdown in …

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Will TRID Simplify the Home Buying Process?

The Consumer Financial Protection Bureau (CFPB) rolled out its new mortgage borrower protection rule this week, TRID, or the TILA-RESPA Integrated Disclosure. TRID does exactly what it says it will do; it essentially integrates two forms created separately under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA) …

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