Blog
Blog
What’s Abilility to Repay?
What are the “Ability to repay” rules about?
In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time.
It’s a longer-term view that goes beyond immediate income, ...
Capital Title Announces a New Division
President, Tom Lico, announced a new division last week; Commercial and New Construction. This will be headed up by Jason Seaver, Esq. Jason grew up in the industry with his father, Phil Seaver, as his mentor. He worked for Philip R. Seaver Title Company from a teenager, through its acquisition in 2009, and with it’s new parent…
What’s Debt-To-Income?
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan.
Like the video says: debts are existing financial commitments; a car payment is a debt a grocery bill is not.
To calculate…
Closing Time: 6 Steps Every Homeowner Should Expect
Closing Time: 6 Steps Every Homeowner Should Expect
Get owner’s title insurance and buy your home with confidence
Your long home-buying journey is almost over. You found the home you love, the seller agreed to your offer and now it’s time for closi...
Home Sales Tips: Prepping the Inside
For many homes and markets, professional help from someone in “staging” makes good financial sense. Like this video say, check your staging options first.
If you are doing it yourself, here are 5 key tips.
One - Depersonalize.
You want the b...
Capital Title Announces Get To Close Services
Capital Title Announces a New Venture
Capital Title (Southfield, MI) is launching a new division under its umbrella, Get To Close Services. "Over the last year, we've noticed a trend in the marketplace when it came to the availability of quality contract ...
Welcome Ray Scodeller
Meet Our New Corporate Counsel, Ray Scodeller
Welcome Ray Scodeller
...
When Do I Get My Closing Disclosure?
If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business days before consummation. It must be in writing, whether paper or digital, and disclose ONLY the i...
Closing Disclosures: Understanding Page One
The first page of your Closing Disclosure documents:
The Loan Amount - the total you will actually borrow
The Interest Rate - which does NOT include the fees factored into the APR on Page 5
If this loan has a penalty for pre-payment or...