Closing Agency Maryville Tennessee
Crossland Title Inc. is a Knoxville title agency providing full-service real estate title solutions. Crossland Title Inc. makes your closing seem effortless.
What to Know Before Closing
The Loan Estimate: Today, borrowers receive two separate forms from their lender at the beginning of the transaction. This includes the Good Faith Estimate (GFE). Also, the initial disclosure required under the Truth-in-Lending Act (TILA). What about loan applications taken on or after October 1, 2015? The creditor will now use a combined Loan Estimate. This is now intended to replace the two previous forms. You must provide the new three-page Loan Estimate form to borrowers on a timetable similar to the current receipt of the GFE.
The Closing Disclosure: The combination of forms continues at the end of the transaction as well. This is with the HUD-1 Settlement Statement. Also, the final TILA forms now combined into a single Closing Disclosure form. This new five-page form is not only to disclose many terms and provisions of the loan. Also, the financial transaction of the closing of the sale.
The Loan Estimate: Today, borrowers receive two separate forms from their lender at the beginning of the transaction. This includes the Good Faith Estimate (GFE). Also, the initial disclosure required under the Truth-in-Lending Act (TILA). What about loan applications taken on or after October 1, 2015? The creditor will now use a combined Loan Estimate. This is now intended to replace the two previous forms. You must provide the new three-page Loan Estimate form to borrowers on a timetable similar to the current receipt of the GFE.
The Closing Disclosure: The combination of forms continues at the end of the transaction as well. This is with the HUD-1 Settlement Statement. Also, the final TILA forms now combined into a single Closing Disclosure form. This new five-page form is not only to disclose many terms and provisions of the loan. Also, the financial transaction of the closing of the sale.
