Video — Your Mortgage Disclosure Form Page 4 Details

Page 4 of the Loan Disclosure is NOT just standardized same-for-every-loan boilerplate. Review Page 4 on your disclosure carefully, including these terms:

Partial Payments — what policies does the lender provide?

Late Payments — what penalties apply, after what period of time?

Negative Amortization — are payments that do not fully cover the interest due allowed? Do they result in increased loan principal?

Early Repayment, or "Demand". Can the lender require earlier repayment than originally scheduled?

Assumable/Assumption: If you sell or transfer the property, can the loan also be transferred?

Escrow Account details — study these to be clear on which costs are covered, and which are not.