Understanding Loan Documents (East Bay)
Free
Understanding Loan Documents (East Bay)

Understanding Loan Documents (East Bay)

Event Information

Share this event
Date and Time
Location
Location

AmeriFirst Financial Walnut Creek

1777 Botelho Dr., 2nd Floor (Conference Room)

Walnut Creek, CA

View Map

Event description

Description

~ FREE EVENT ~

Parking is available on the street in front of the building, or additional public lots within 1-2 blocks from office. Parking is not available in the garage as it closes at 7pm. 

Get ready for the most comprehensive presentation on the loan documents included in a property purchase that has ever been conducted! It is quite common for people to go into the purchasing process of buying a rental property without having any understanding of the documents that are involved. Our preferred mortgage lender of over 10 years will be diving deep into the following loan documents. Our goal is to give viewers an in-depth understanding of how to read and interpret these documents in order to prepare for a smooth and successful closing.

  • The 1003 Application (This is what the loan structure is built on)
  • The Loan Estimate or "LE" (Included with the preliminary loan disclosures that are sent out when the loan file is activated)
    • What are standard fees and what would be considered out of the norm?
    • Difference between pre-paid and actual fees

    • The low-end and high-end range for costs such as processing, underwriting, and loan origination fees
    • Definition of common industry terms that a first timer might not be familiar with 
  • The Closing Disclosure or "CD" (The borrower has 3 days to review their lender fees and 3rd party fees/cash to close. This way there are NO surprises at closing) 
    • How impounds work
    • What are typical title and escrow fees?
    • What are typical "additional settlement charges?" (Ex: survey, pest inspection, HOA dues, etc.)
    • Definition of common industry terms that a first timer might not be familiar with 
  • Final Closing Documents (Any minor changes that occurred such as changing your insurance policy and now the premium is higher, the closing date is further out than expected, pre-pays for HOA change, etc.) 

In each of these segments we will dive into the importance of each document and explain why it is necessary that everything is disclosed properly and the application is complete upfront. Anyone considering to buy rental property should attend, understand, and follow the instructions mentioned during this event. 

For more details, please click here.


Share with friends
Date and Time
Location

AmeriFirst Financial Walnut Creek

1777 Botelho Dr., 2nd Floor (Conference Room)

Walnut Creek, CA

View Map

Save This Event

Event Saved