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logo
  • Home
  • Apply Now
  • Client Portal
  • Today's Rates
  • Loan Officers
  • Blog
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • Testimonials
  • Give Us A Review
  • Careers
  • About Us
  • Contact
  • Company Store
  • (425) 576-5462

What is "Truth in Lending" (TIL)?

It's required that mortgage lenders provide you with a Truth in Lending (TIL) Statement containing information on your loan’s annual percentage rate, finance charges, the amount financed, and the total payments required.

The TIL Statement may also contain information on security interest, late fees, prepayment provisions, and if the mortgage is assumable. If you have an adjustable rate loan, the statement may outline the limits on the adjustments, annual and lifetime caps, and give an example of what your next year’s payment may be depending on interest rates. For adjustable rate loans the total payments figure is estimated as a worst-case scenario. The figure reflects the payments you would make if your loan adjusted upward to the maximum rate allowed by annual and lifetime caps, and then stayed at that rate for the loan duration.

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 854647
www.nmlsconsumeraccess.org

Contact Us

4055 Lake Washington Blvd NE #100
Kirkland, WA 98033
Phone: (425) 576-5462
info@wfmtg.com

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