Answer:
Closing costs would not be considered a new advance. See the Commentary to 1026.23(f)(4).
First published on BankersOnline.com 4/16/12
Cash-Out if Closing Costs Rolled in Loan Amount?
Answered by:
Question:
On a Home Improvement loan, is it considered a cash-out if the closing costs are rolled into the loan amount?
print
share