Understanding the 3-7-3 Rule for Mortgages
The 3-7-3 Rule is a federally mandated timeline under the Consumer Financial Protection Bureau (CFPB) that protects borrowers from being rushed into signing a mortgage. It establishes specific waiting periods between your application, initial disclosures, and the final loan closing. The 3-7-3 Timeline Breakdown The Re-disclosure Rule If your loan terms or the Annual Percentage Rate (APR) change significantly […]