What are Discount Points and Origination Fees on a Loan Estimate?

August 5th, 2016

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What is a Loan Estimate?

The new Loan Estimate (LE) was introduced in October 2015 as a federal standard form that includes the interest rate, monthly payments, and total closing costs for a mortgage loan application. The lender is required to send you a Loan Estimate within 3 business days after applying for a mortgage. Even though this form attempts to help the consumer understand the loan payment breakdown and the costs, it can still be very confusing. The language on the form is murky and some of its terminology needs to be explained. Read the rest of this entry »

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Is Your Title Company Checking For Construction Permits?

March 23rd, 2016

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I had a client recently who bought a house where the seller did not disclose that they had done some construction work recently but neglected to get all the proper construction permits. This has caused problems for the buyers after closing and the title company they chose did not check for open permits. The client emailed myself and the realtor and said: Read the rest of this entry »

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