Can My Settlement Charges Change?

Yes, if circumstances change, such as:

  • a natural disaster damages the property or affects closing costs
  • the title insurer providing the estimate goes out of business during underwriting
  • new information on you or the transaction affecting settlement is discovered

If any of these events change 3rd-party charges beyond the 10% tolerance limit, creditors may issue a revised Loan Estimate.

If a creditor issues a Loan Estimate, they are presumed to have collected all 6 pieces of required information. They may not claim a change in circumstances by receiving one of these pieces of information AFTER issuing a Loan Estimate.

CARING ABOUT THE COMMUNITY. FIRST.