First-Time Homebuyer? Here’s What You Need to Know About the Closing Disclosure Form.

Closing Disclosure FormBuying your first home is likely one of the most exciting and rewarding events you’ll experience in your life. As such, it’s important to be prepared and gain a sound understanding of the real estate transaction process, as this helps make for a more streamlined, smooth closing experience. One of the key components of the settlement process is the Closing Disclosure (CD) Form. Read on for more regarding the importance of this document to closing on your new home.

What’s the Closing Disclosure Form?

The Closing Disclosure Form is a five-page document detailing the final terms of your home loan and closing costs. It contains information similar to that of your Loan Estimate, but also includes details surrounding the escrow portion of your mortgage. The CD Form should be compared with the Loan Estimate you receive from your lender.

What Information Does It Contain?

  • The amount of your loan, interest rate, and projected monthly principle and interest payments.
  • A detailed breakdown of closing costs (those paid by you as the buyer along with the seller’s closing costs).
  • Your financial responsibility (cash needed) for closing on the home and a summary of the transaction.
  • Further details on the terms of your mortgage set forth by your lender, including escrow information surrounding your home loan.
  • Loan calculations (total amount of payments, total amount paid in finance charges, the amount you financed, your annual percentage rate and total interest percentage over the life of the loan). Additional disclosures and important contact information are also found on the final page of your CD form.

When Will You Receive Your CD Form?

Your lender should provide this document to you at least three business days prior to your closing date. During this time, you should carefully review your CD Form, compare it with your Loan Estimate and contact your lender with any questions or concerns. Reviewing this document promptly helps ensure your closing is as efficient as possible, and that you close on time.

Have additional questions about the Closing Disclosure Form, or the closing process in general? We’re happy to help! Contact Linear Title & Escrow today at (757) 340-0340.


The Influence of Social Media on the Real Estate Business

Social media has changed many aspects of how we interact with others today. From communicating with family and friends to business networking and marketing strategies, social engagement is forever changed thanks to our cyber connections. Social media brings everything closer. Within reach. And it provides instant gratification, in a myriad of situations. So how does it fit into the real estate business? More importantly, how does it impact the process of buying or selling a home?

Social Media Image

What Social Media Does for the Real Estate Market

  1. Casts a wide net. Some real estate firms may prefer niche marketing, depending on their business model and clientele. But social media offers a huge opportunity to attract and engage buyers from all over the county, and even the world. People looking to relocate have the opportunity to connect with an agent, and even “interview” potential agents based on their social media persona.


  1. Saves time. Sharing links for listings (especially those with excellent, high-quality photos and videos) saves time for buyers, sellers and agents alike. While it’s true that nothing is as good as visiting a property in person, potential homebuyers who aren’t local or who want a preview before scheduling a showing can determine if a property potentially fits their needs.


  1. Builds credibility, and enables agents to stand out among the crowd. Real estate agents develop a name for themselves in a number of creative ways. However, a fast and (often) inexpensive way to reach a large number of potential clients is through social media. Facebook, Twitter, Pinterest, Instagram and Snapchat are all used with great success. Even Google+, LinkedIn and YouTube are platforms on which home buyers, sellers and agents are connecting with success. The more agents post and the higher the quality of content, the better their chance of building a credible image, engaging with their audience and standing out among their peers.


  1. Offers enormous networking opportunity and increased exposure. With social media, home buyers, sellers and agents all have greater access to resources, real time information and opportunities that might otherwise be missed. Agents can network with other agents, brokers, service businesses, and even retail and eating establishments to grow their reach. Homebuyers and sellers can turn to real estate professionals who serve as information facilitators, particularly for community details, home décor and improvement recommendations, and other types of resources these clients often need.

Social media certainly has certainly proven to be an information-at-your-fingertips sign-of-the-times, and an important part of a sound real estate buying, selling and marketing strategy today.

What Are the Most Frequently Asked Closing Questions?

The the process of closing on your real estate purchase can be confusing, especially if you’re a first time home buyer. We’ve put together some of the most commonly asked questions surrounding settlement, to help make sense of the closing process.


Do I need to purchase title insurance? Lenders typically require that you purchase Lender’s Title Insurance, to protect the financial institution’s interest in providing you a home loan. Owner’s Title Insurance is highly recommended, as it protects your financial investment in the property you intend to purchase. Learn more about both types from our title insurance page.

How long does the settlement process take? The entire settlement process depends largely on the type of mortgage, but the average time to close is 30 to 45 days.

Will seller concessions include my title fees? Yes. Title fees typically include items like title search and the Lender’s Title Insurance premium. Costs like these are covered in transactions where sellers contribute to closing costs on behalf of the buyer.

What do I need to bring to the closing table? You’ll need to present your driver’s license or other government-issued ID. Depending on the lender, two forms of identification may be required. You’ll also need to bring a Cashier’s or Certified Check for the amount of your closing costs.

Have other questions? Here at Linear Title & Escrow, we work closely with lenders and agents to make the closing process as simple, streamlined and seamless as possible. For more information on title and escrow, contact our friendly team at (757) 340-0340 today!