A clear walkthrough of your Loan Estimate, the document every lender is required to give you 3 business days after you complete a RESPA application (detailed in the video).
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0:00 How a Loan Estimate works
1:02 What is a Loan Estimate?
1:21 Think of this as a map
2:03 Required in receiving loan estimate
2:32 Time Frame
3:09 Closing Disclosure
4:57 Information that you need to check
5:22 Sales Price
5:33 Loan Amount
6:07 Loan Term and Purpose
6:20 Fixed Rate
7:01 Loan Type and Loan ID#
7:17 Rate Lock
8:16 Rate lock expires
8:46 Interest Rate
9:14 Monthly Principal & interest
9:24 Prepayment Penalty
10:10 Projected Payments
10:44 Estimated Escrow
11:10 Estimated Total Monthly Payment
11:35 Estimated Taxes, Insurance & Assessments
12:21 Closing Cost Summary & Details
13:07 A. Origination Charges
14:24 B. Services You Cannot Shop For
15:13 C. Services You Can Shop For
16:57 D. Total Loan Cost (A+B+C)
17:03 Other costs: E. Taxes & Other Government Fees
18:04 F. Prepaids
19:25 G. Initial Escrow Payment at closing
20:38 H. Other Title -Owner's Title Policy
21:07 I. Total of Other Costs
21:12 J. Total Closing Costs
21:36 Calculating Cash to Close
24:55 Comparisons
25:38 APR
26:33 Total Interest Percentage (TIP)
26:50 Appraisal
27:14 Assumption
27:30 Homeowner's Insurance
27:51 Late Payment
28:01 Refinance
28:18 Servicing
28:55 Confirm Receipt
30:38 Feel free to ask your loan officer
Kyle Seagraves - NMLS 1701021
Only for educational usage. All calculations should be verified independently. Win The House You Love LLC is not a lender, does not issue loan qualifications, and does not extend credit of any kind. This is not an offer to lend and should not be used to make decisions on home offers, purchasing decisions, or loan selections. Not guaranteed to provide accurate results, imply lending terms, qualification amounts, nor real estate advice. Read the full disclaimer here: [ Ссылка ]
