The finance charge on a mortgage is the total interest plus loan charges you would pay over the full life of the loan. We break down exactly what counts, what doesn't, and where to find the number on your Closing Disclosure.
A Qualified Mortgage comes with a federal cap on the upfront points and fees a lender can charge, and the cap depends on the size of the loan. This guide explains how the points and fees limit works, how it connects to the ability-to-repay rule, and where Colorado borrowers can see every charge on their loan paperwork.
The initial escrow deposit is the amount you pay at closing to fund your new escrow account so your servicer can pay property taxes and homeowners insurance on your behalf. Here's where it appears on your Loan Estimate, how it differs from your monthly escrow payment and earnest money, and what Colorado buyers should check before closing.
You applied for a home equity line of credit, paid some upfront fees, and then the lender changed the terms. Federal consumer protection rules spell out exactly when those fees must come back to you — and the windows are shorter than most borrowers realize. Here is how the refund rights work, who they cover, and the steps to take in writing.
A CFPB Loan Estimate is the standardized three-page form every mortgage lender must send within three business days of receiving your application. This guide walks through all three pages — loan terms, closing costs, and comparison tools — and shows Colorado borrowers how to use the form to compare loan offers from different lenders.
The Loan Estimate is the standardized three-page form every mortgage lender must send after you apply. Here is what each page tells you, which features to flag, and how Colorado Springs buyers can use it to compare loan offers side by side.
Federal rules prohibit lenders from deliberately lowballing the costs on a Loan Estimate. Here is what the Consumer Financial Protection Bureau says can change before closing, what cannot, and what to do if the numbers move on you.
You can negotiate the terms and costs of a mortgage loan at any point before you sign the final documents. Here's what the Consumer Financial Protection Bureau says is negotiable at closing, which fees are fixed, and how Colorado borrowers can approach the closing table prepared.
Discount points and lender credits are two sides of the same tradeoff. Points mean paying more at closing in exchange for a lower interest rate over the life of the loan. Lender credits mean accepting a higher interest rate in exchange for money toward closing costs. Here is how each works, where they appear on the Loan Estimate, and how Colorado borrowers can decide.
The Estimated Cash to Close on your Loan Estimate is the money you bring to the closing table, and it is usually paid by cashier's check or wire transfer. This guide explains how the cash to close amount is calculated, why lenders document the source of your funds, and how Colorado Springs buyers can prepare for closing day.