Get Colorado Tangible Net Benefit Disclosure

The Colorado Tangible Net Benefit Disclosure is an important document that assists borrowers and mortgage loan originators in evaluating the tangible net benefit of a proposed loan. This guide will provide you with clear, step-by-step instructions to help you complete this form online efficiently.

Follow the steps to fill out the Colorado Tangible Net Benefit Disclosure

1. Press the ‘Get Form’ button to obtain the Colorado Tangible Net Benefit Disclosure and open it in the designated editor.
2. In the first section, fill in the Borrower Name and Co-Borrower Name. Ensure that the names are spelled correctly as this information is crucial for identification.
3. Next, enter the Property Address where the loan will be applied. This should include the street address, city, and ZIP code.
4. Provide the name of the Mortgage Loan Originator you are working with. Include their CO License number and NMLS ID to verify their credentials.
5. Read the purpose of the disclosure carefully, which states that it is meant to determine the tangible net benefit of the proposed loan, taking into consideration all related circumstances.
6. Indicate whether your transaction is a Purchase or Refinance by checking the appropriate box. This will guide the evaluation of your net benefit.
7. If applicable, check all statements that apply to your refinance transaction. This may include benefits like lower interest rates or monthly payments. Be thorough and select all that are relevant.
8. Use the space provided to outline any other reasonable, tangible net benefits or considerations that have not been covered. This is an important opportunity to clarify any unique circumstances.
9. Next, disclose your income by referring to the Uniform Residential Loan Application. Ensure that the income information you provide is accurate and reflects your ability to make the necessary mortgage payments.
10. Read the important notes regarding your rights as a borrower, including your right to receive copies of appraisal and credit reports if you are unable to obtain a loan.
11. Finally, both the Borrower and the Co-Borrower must sign and date the disclosure to certify that they have read and agree to the terms outlined in the document.
12. Once everything is filled correctly, you can save your changes, download, print, or share the completed form as needed.

Start filling out your Colorado Tangible Net Benefit Disclosure online today to ensure a clear understanding of your mortgage benefits.