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Mortgage Loan Disclosure Statements - HawaiiUSA Federal Credit Union

Mortgage Loan Disclosure Statements

After consumers complete the loan application and have chosen a loan type, the lender provides several documents to borrowers that disclose important aspects of the loan. These documents are provided within 3 days of receipt of the application and are required by Federal Regulation. The documents are:

Estimated Closing Cost Statement: Lenders provide an estimate of the closing costs incidental to obtaining a loan. Some of these costs are:

Truth in Lending Statement - Regulation Z: This statement shows annual percentage rate (APR) on the loan. This rate combines the actual interest paid on the note rate over the life of the loan plus the total costs to obtain the loan. The APR is a measure of the cost of credit expressed as a yearly rate of interest. Because all lenders follow the same rules in calculating the APR, it provides consumers with a good basis for comparing the cost of mortgages.

Settlement Cost, A HUD Guide: This booklet gives an overview of the lending process and is required by HUD. The booklet is provided to consumers after the loan application is completed.


HawaiiUSA FCU For more information, call HawaiiUSA FCU at (808) 534.4300 or toll-free (800) 379.1300, click or visit one of our branches.
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