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#2043441 - 10/08/15 08:06 PM Investment Property
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 327
The bank is making a loan and the purpose states investment on the loan application. The property has a small cabin used for hunting and the rest of the land is used for ag purposes. Would this loan be subject to the TRID rules?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2043443 - 10/08/15 08:14 PM Re: Investment Property Patricia
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,423
Bloomington, IN
What do you mean by "investment"? Is it a business or personal investment?

rest of the land is used for ag purposes

See 1026.3(a)(1).

You need to determine the primary purpose of the loan. If the purpose, not the collateral, falls within one of the 1026.3 exemptions the loan will not be subject to Reg. Z
The opinions expressed are mine and they are not to be taken as legal advice.

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