S.W. Florida Broker Joe

Joe Kendall, Real Estate Broker with Sandals Realty 239-560-0726 or Joek4realestate@aol.com. You can read my experience from my profile here  and writes, the Mortgage Disclosure Act has taken away the surprises that came up in years past from lender's on closing fees and expenses! The surprises used to be too common a story! You're excited about signing the paperwork, shaking hands, and grabbing the keys to your new home.  But the day before closing, the lender advises that your closing fees are several hundred dollars more than their Good Faith Estimate listed.  Suddenly, your excitement turns to pressure to just pay it and close the transaction because you want the house.

Now those days are over, thanks to the Mortgage Disclosure Improvement Act (MDIA). Now the lender must provide their Good Faith Estimate within three days of receiving the borrowers' application, and closing cannot occur until the buyer has seven days to review the disclosure.  If the final APR (annual percentage rate) differs more than 0.125% from the original quote, a new disclosure must be provided, granting the borrower the right of rescission.

I work with many of the top mortgage bankers in southwest Florida . If your looking to get a pre-approval letter with a detail list of your total expenses and the cost of interest? Please give me a call or email me today and I will put you in contact with a true professional in the field of "Home Financing" that will send there time explaining every line item to you in an easy way to understand.