When it comes to a purchase, especially your home, you have the right to “Know Before You Owe”. The new mortgage disclosure rule makes it easier for you to understand what you’re committing to when you buy or refinance your home. This ruling went into effect on October 3rd, 2015. This change will give you more time to understand your mortgage costs and terms, so that you understand all and “know before you owe”.

The forms have been reduced to 2 and you are given 3 days to review the forms before closing. This is designed to protect you from any surprises at closing and provides you with time to speak with your realtor and/or attorney to ask any questions related to the terms of your mortgage.

We want you to be comfortable and confident in the information received regarding your mortage, the lendors that work with and provide the opportunity for a clear and concise comparison. We want it to be easier for you to shop effectively and efficiently for mortgages and make decisions that are best for you and your family. For more information about the “Know Before You Owe” ruling, click on this quick factsheet or this quick video.