Washington Buyer and Seller Guide for Title and Escrow

51 Page 5. On the fifth page under the heading “Loan Calculations” the consumer will find the: • Total of payments over the life of the loan • Finance charge • Amount financed • Annual Percentage Rate (APR) • Total interest percentage information Under “Other Disclosures” the consumer will find information about the: • Appraisal (if applicable) • Contract details • Liability after foreclosure • Refinance information • Tax deductions At the bottom of the page is the Contact Information and Signature lines. If signature lines are included, the following disclosure is used: “By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form” indicating a signature is intended only as a receipt of the form. All of these forms, dates, rules, and laws can seem like a lot to take in. The good news is that we’ve done our homework and are here to help you understand what you need to know before you close. THE NEW CLOSING DISCLOSURE EXPLAINED Timing References by Day Note: • If a federal holiday falls within the Delivery and/ or Waiting Periods, add an additional business day. • The three-day period is measured by days, not hours. Thus, disclosure must be delivered three days before closing, and not 72 hours prior to closing. • Disclosures may also be delivered electronically to start the Delivery Period and may be signed in compliance with E-Sign requirements.