801-272-0600
nathan@advancedfunding.com
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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Know Before You Owe

Know BEFORE You Owe

Know Before You Owe

Know Before You Owe is the Consumer Financial Protection Bureau's (CFPB) mortgage initiative that is designed to help consumers understand their mortgage loan options, how to shop for the mortgage that’s best for them, and avoid costly surprises at the closing table.
 


Making the Mortgage Loan Process Easier

The Know Before You Owe mortgage disclosure rule replaced four disclosure forms with two new disclosures, the Loan Estimate, and the Closing Disclosure. The new forms are designed to be easier to understand and to use. The rule also requires that you get three business days to review your Closing Disclosure and ask questions before you close on your new mortgage.
 


Tools and Resources

Mortgages are complex and can be confusing. Below are several resources to help you as you navigate the mortgage process.


Loan Estimate


Loan Estimate

The Loan Estimate makes it easier to shop and compare loan offers. The Loan Estimate is a three-page form that you receive after applying for a mortgage. The Loan Estimate tells you important details about the loan you have requested. The form provides you with important information, including the estimated interest rate, monthly payment, and total closing costs for the loan.

Loan Estimate Sample >


Closing Disclosure


Closing Disclosure

The Closing Disclosure is designed to help you avoid costly surprises at the closing table. The Closing Disclosure is a five-page disclosure form that provides final details about the mortgage loan you have selected and are preparing to close on. It includes the loan terms, your monthly payments, and how much you will pay in fees and other closing costs to get your mortgage.

Closing Disclosure Sample >
 

House Icon
 

Buying a House

This set of tools and resources guides you through the process of getting a mortgage. It will help you explore your readiness to buy a home, preparing a budget, understand loan options, and prepare you for closing.

Buying a House >
 

Loan Toolkit
 

Your Home Loan Toolkit

This set of tools and resources guides you through the process of getting a mortgage. It will help you explore your readiness to buy a home, preparing a budget, understand loan options, and prepare you for closing.

Your Home Loan Toolkit >