Buyer's Bill of Rights

The Borrower's Bill of Rights

• A borrower has the right to clear and forthright explanations of theterms and conditions of a loan.
• A borrower has the right to timely and truthful disclosure regarding the rates and costs of the loan.
• A borrower has the right to accurate disclosure of final annual percentage rate and amount of regular payments at the time of loan closing/settlement.
• A borrower has the right not to be subject to deceptive marketing tactics.
• A borrower has the right to obtain credit counseling prior to closing on a loan.
• A borrower has the right to have a lender consider a borrower's ability to repay the loan before such credit is extended.
• A borrower should receive an identifiable benefit when charged a fee or a higher interest rate to refinance a loan.
• A borrower has the right to not be subject to a requirement that he or she finance any portion of points or fees.
• A borrower has the right to decline credit insurance in connection with a loan.
• A borrower has the right to a fair and equitable resolution to any disputes related to their loan.
• A borrower has the right to have favorable information reported to credit bureaus on a timely basis.

Will Merritt

www.tampabayloanofficer.com

will@tampabayloanofficer.com

727.530.7208

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