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#1167454 - 04/21/09 06:52 PM Mortgage Loan Brochure Triggering Terms
KathleenD Offline
New Poster
Joined: Jun 2007
Posts: 14
I am working on a brochure for a new loan program and need to know if any of the following are triggering terms:

3/3 ARM
X.xx% APR
No Closing Cost (Builder will pay all fees associated with closing cost)

Currently my disclosure says Flood insurance may be required. Advertised rates subject to credit approval and Lenderís credit criteria and may be higher based on applicantís credit history. Certain conditions and restrictions apply. Rate may increase after consummation.

Am I missing anything?

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#1167734 - 04/22/09 01:35 AM Re: Mortgage Loan Brochure Triggering Terms KathleenD
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,030
Toano, VA
Doghouse.
_________________________
...gone fishing.

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#1167827 - 04/22/09 01:51 PM Re: Mortgage Loan Brochure Triggering Terms Richard Insley
KathleenD Offline
New Poster
Joined: Jun 2007
Posts: 14
Does this require a payment example?

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#1167907 - 04/22/09 03:11 PM Re: Mortgage Loan Brochure Triggering Terms KathleenD
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,030
Toano, VA
Not unless you mention loan maturity, dollar amounts of payments, or dollar cost of any FC.
_________________________
...gone fishing.

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