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Page 1 of 3State of California Department of Real EstateMortgage Loan Disclosure Statement (Traditional) RE 882 (Rev. 10/10) borrower\'s name(s)Real Property Collateral: The intended security for
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How to fill out mortgage loan disclosure statement

01
Step 1: Gather all the necessary information about the mortgage loan, including the loan amount, interest rate, loan term, and any additional fees.
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Step 2: Identify the sections of the mortgage loan disclosure statement, such as the loan summary, interest rate, loan terms, payment schedule, and any other important disclosures.
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Step 3: Review the loan summary section and ensure that the loan amount, interest rate, and loan term are accurately stated.
04
Step 4: Examine the interest rate section and understand whether the rate is fixed or adjustable, as well as any potential changes in the future.
05
Step 5: Analyze the loan terms section and make note of any important information, such as prepayment penalties or balloon payments.
06
Step 6: Evaluate the payment schedule section and verify that the monthly payment amount, due date, and any late payment charges are clearly mentioned.
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Step 7: Pay attention to any other important disclosures mentioned in the statement, such as insurance requirements, escrow accounts, or any potential hazards affecting the property.
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Step 8: If you have any questions or concerns, reach out to your mortgage loan officer or lender for clarification.
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Step 9: Once you have thoroughly reviewed the mortgage loan disclosure statement and are satisfied with its accuracy, sign and submit it to your lender.
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Step 10: Keep a copy of the signed mortgage loan disclosure statement for your records.

Who needs mortgage loan disclosure statement?

01
Anyone who is applying for a mortgage loan or is in the process of obtaining a mortgage needs a mortgage loan disclosure statement.
02
This document is required by law and provides important information about the terms and conditions of the loan, as well as any potential risks or costs associated with the mortgage.
03
Both borrowers and lenders benefit from having a clear and comprehensive mortgage loan disclosure statement, as it ensures transparency and helps avoid misunderstandings or disputes in the future.
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The mortgage loan disclosure statement is a document that outlines all the details and terms of a mortgage loan, including interest rates, fees, and repayment terms.
Lenders are required to provide the mortgage loan disclosure statement to borrowers as part of the loan application process.
The mortgage loan disclosure statement should be filled out by the lender and provided to the borrower for review and signature.
The purpose of the mortgage loan disclosure statement is to ensure that borrowers are fully informed about the terms of their mortgage loan before committing to it.
The mortgage loan disclosure statement must include details such as the loan amount, interest rate, fees, and repayment terms.
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