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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule cash to close
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#2069074 - 03/15/16 02:12 AM cash to close
theloanbug Offline
Platinum Poster
Joined: Sep 2005
Posts: 746
If customer is financing $50,000.00 plus financing fees of $2500.00 then cash to close is $0,

Is this correct?

Thank you

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TRID - TILA/RESPA Integrated Disclosures Rule
#2069091 - 03/15/16 12:28 PM Re: cash to close theloanbug
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
"Cash to close" represents what the borrower brings to the closing table. If it is zero - it is zero.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2069101 - 03/15/16 12:55 PM Re: cash to close rlcarey
theloanbug Offline
Platinum Poster
Joined: Sep 2005
Posts: 746
Yes. So if they are bringing zero than it would be Zero. If sells prices was $50,000.00 and we are financing $50,000.00 plus fees.

Then it would $0. Correct?

Thanks

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#2069106 - 03/15/16 01:06 PM Re: cash to close theloanbug
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Yes.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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