mortgage disclosure

Mortgage disclosure involves providing clear and detailed information to borrowers about the terms, costs, and conditions of their home loan. It ensures transparency by outlining important details such as interest rates, monthly payments, closing costs, and any fees involved. This helps borrowers compare offers, understand their financial commitments, and make informed decisions. Regulations like the Truth in Lending Act (TILA) require lenders to deliver these disclosures early in the process, promoting fair lending practices and protecting consumers from surprises at closing.