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Financing

Financing Practice Question

What information must be included on a Loan Estimate?
A
Only the interest rate
B
Estimated loan terms, projected payments, and closing costs
C
Only the monthly payment
D
The seller's contact information
Explanation

The Loan Estimate must include loan terms (amount, interest rate, monthly payment), projected payments over time, estimated closing costs, cash to close, and loan comparisons (APR, total interest percentage). It allows borrowers to compare offers from different lenders.

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Points paid at closing are:

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In Florida, a satisfaction of mortgage must be recorded within:

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