Shopping for Your Home Loan: Settlement Cost Booklet

Shopping for Your Home Loan: Settlement Cost Booklet (Package of 100)

Agency Publisher: Consumer Financial Protection Bureau
USA List Price:
$207.00 Display International Price
Availability:
Backordered
GPO Stock Number: 048-013-00005-8 ISBN: 9780160922725
Price: $207.00

Description

"Shopping for Your Home Loan: Settlement Cost Booklet"  is an invaluble booklet for home buyers who need a mortgage / home loan to finance the purchase of their home. Explains in clear terms the entire home buying process, from working with real estate agents or brokers, builders and real estate attorneys; getting appraisals and surveys; to terms on the sales contract and shopping for and understanding the various types of loans, the costs and implications, and the paperwork you will receive, including Good Faith Estimates and the all-important HUD-1 Settlement Statement. Chock full of useful tips and tools, including worksheets and a critical Do/Don't checklist, it is a must-have for potential home buyers, realtors, mortgage brokers, bankers, and others who need to explain this home loan process. Published January 2014; 71 pages. Sold only in packages of 100 under this stock number.

Table of Contents
1. Introduction .......................................................................................................... 6
2. Before you buy ..................................................................................................... 7
2.1 Are you ready to be a homeowner? ........................................................... 7
3. Determining what you can afford ....................................................................... 9
4. Shopping for a house ........................................................................................ 10
4.1 Role of the real estate agent or broker .................................................... 10
4.2 Role of an attorney .................................................................................. 10
4.3 Terms of the sales agreement ................................................................. 11
4.4 Affiliated businesses ................................................................................ 12
4.5 Builders ................................................................................................... 13
5. Shopping for a loan............................................................................................ 14
5.1 Loan originator ....................................................................................... 14
5.2 Types of loans and programs .................................................................. 15
5.3 Taxes and insurance ................................................................................ 16
6. Good Faith Estimate (GFE) ................................................................................ 17
6.1 Your GFE step-by-step ............................................................................. 17
6.2 After you choose the best loan for you ..................................................... 26
6.3 New home purchases .............................................................................. 26
6.4 Changed circumstances ........................................................................... 27
7. Shopping for other settlement services ........................................................... 28
7.1 Title services and settlement agent ........................................................ 28
7.2 Survey ..................................................................................................... 29
7.3 Homeowner’s insurance ......................................................................... 29
8. Your settlement and HUD-1 ............................................................................... 30
8.1 Settlement ............................................................................................... 30
8.2 HUD-1 Settlement Statement ................................................................ 30
9. Your loan after settlement ................................................................................. 40
9.1 Servicing and escrow disclosure statements .......................................... 40
9.2 Billing information .................................................................................. 41
9.3 Servicing information and errors ........................................................... 42
9.4 Consumer protections ............................................................................ 44
9.5 Avoiding foreclosure............................................................................... 44
10. Home equity and refinances .............................................................................. 46
10.1 Home equity loan/line of credit ............................................................. 46
10.2 Is a home equity loan/line of credit right for you? ................................ 46
10.3 Refinancing: should you consider refinancing? .................................... 47
11. Additional protections ....................................................................................... 49
11.1 No discrimination ................................................................................... 49
11.2 Prompt action/notification of action taken ........................................... 50
11.3 Statement of reasons for denial ............................................................. 50
11.4 Obtaining your credit report ................................................................... 51
11.5 Obtaining your appraisal ......................................................................... 51
11.6 HOEPA .................................................................................................... 51
Appendix A: ............................................................................................................... 52
Defined terms .................................................................................................. 52
Appendix B: ............................................................................................................... 57
More information ............................................................................................. 57
Appendix C: ............................................................................................................... 58
Contact information ........................................................................................ 58
Appendix D: ............................................................................................................... 62
Types of mortgage loan products.................................................................... 62
Appendix E: ............................................................................................................... 64
Worksheet: Determining what you can afford ............................................... 64
Appendix F: ............................................................................................................... 66
HUD-1 Settlement Statement ......................................................................... 66
Appendix G: .............................................................................................................. 70
The do list/the don’t list .................................................................................. 70

Related items:

Other products produced by Consumer Financial Protection Bureau (CFPB) can be found here: https://bookstore.gpo.gov/agency/224

Mortgages and Home Loans resources collection can be found here: https://bookstore.gpo.gov/catalog/consumer-home-family/mortgages-home-loans

 

Audience: This publication is a must-have for potential home buyers, realtors, mortgage brokers, bankers, and others who need to explain this home loan process.

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Product Details

GPO Stock Number:
048-013-00005-8
ISBN:
9780160922725
Availability Details:
Pending Reprint Decision (Priced, No Stock Available in Warehouse or Retail)
USA Price:
$207.00
International Price:
$289.80
Publisher:
Consumer Financial Protection Bureau
Author:
 
Year/Pages:
2014: 71 p.
Note:
The Consumer Financial Protection Bureau is an independent Federal agency. It is separate from Treasury and Federal Reserve.
Key Phrases:
 
SuDocs Class:
 
Weight:
0 lb.
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Discount
Binding:
Paperback
Cover:
Paper
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Unit of Issue (U.S.):
Package
Item Available Date:
Last Status Update:
07/15/2015