Sentences with phrase «before final loan documents»
If a borrower's annual percentage rate (APR) changes beyond the specified tolerance (0.125 % in most cases), mortgage lenders are required to reissue corrected disclosures before final loan documents are signed.
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· Usually, your lender will require you to lock in your rate at least a week before your closing so that the final loan documents can be prepared for settlement.
Talk to an FHA approved lender that understand your situation and compare loan offers and disclosures from multiple finance companies before making a commitment and signing final loan documents.
You may need to provide more documents or meet certain conditions before getting a final loan decision.