Your lender has to disclose your final interest rate again only if it changes. After you applied for a mortgage, you should receive a Good Faith Estimate (GFE) that indicated the interest rate the GFE was based on. If you locked your ...
An option or payment-option ARM is an adjustable rate mortgage with several possible payment choices. Some of the payment choices do not cover the full amount needed to pay down the loan. The payment options usually include: Paying an amount ...
The tradeoff table on page three of your Good Faith Estimate (GFE) can help you understand how much your loan payments could change if you pay more settlement charges and receive a lower interest rate or if you pay lower ...
If you obtained your loan after January 1, 2010, the following items listed on the Good Faith Estimate (GFE) CANNOT increase: The Origination Charge listed in Block 1 If your interest rate is locked, the Credit or charge (points) for ...
An interest-only mortgage is a loan with scheduled payments that require you to pay only the interest for a specified amount of time. The amount that you owe on the loan does not go down with each payment. Once the ...