Mortgage Takeoff Briefing™

Once you apply for your new home loan, you will receive a loan package that includes many documents, including several important disclosures. Once you receive these documents, it is time for the Mortgage Takeoff Briefing™.

By law, according to the Real Estate Settlement and Procedures Act (RESPA), you must receive certain documents, namely disclosures, within three (3) business days of applying for your new home loan. Unfortunately, according to surveys, only about 25% of all mortgage applicants actually receive these required documents.

The Mortgage Takeoff Briefing™ is designed to help you interpret all of the disclosures that you have received and ensure you understand all of the details, terms, and especially the fine print. Your Mortgage Pilot™ will also determine if you are receiving a competitive offer, considering rates, fees and terms. He/she will also determine if the program quoted best fits your needs and goals. Additionally, if you are refinancing, your Mortgage Pilot™ will run a cost/benefit analysis and discuss the results with you, including when you will break-even.

It is important for you to ask any questions you may have regarding the disclosures and loan documents during this time and ensure the accuracy of the documents. Any changes made later may delay your closing, or even prevent you from closing your loan. Remember that your Mortgage Pilot™ will still be available during the remainder of the loan process in case you develop questions or concerns later.