Prestige Settlement & Title Services, LLC: (904) 371-9877
Law Office of Tina M Bell, PLLC: (904) 720-2251
What Will The TRID Loan Estimate Tell Me?
The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes:
loan terms
projected payments and loan costs
cash and costs at closing time
the services for which you CAN and CANNOT shop in relation to the loan
summary information with which to compare this loan to others
and other important details such as appraisal, insurance, late payment, refinancing, loan assumption policy and whether this lender intends to service this loan.
The Loan Disclosure is a dynamic form; it will include information that IS related to YOUR loan and may leave out information that is NOT so forms from different lenders or for different loans may not look identical.
What Will The TRID Loan Estimate Tell Me?
The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes:
loan terms
projected payments and loan costs
cash and costs at closing time
the services for which you CAN and CANNOT shop in relation to the loan
summary information with which to compare this loan to others
If a creditor sells or transfers their interest they must provide a copy of the Closing Disclosure to the new owner or servicer and both parties must retain it for the remainder of the 5-year period. Records CAN be stored digitally but it is NOT required.
TRID does not define how long consumers should keep disclosure records.
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