TILA Mortgage

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TILA Mortgage
981 Powell Ave. SW - Suite 100
Renton, WA 98057
Office: (206) 766-8888
Toll Free: (877) 777-8452
Email: info@tilamortgage.com


TILA Mortgage is unique in that it offers two distinct closing cost options for our clients to choose from. We look forward to the opportunity to discuss the benefits of each with you.

1. No Points** - The borrower pays no points to buy the interest rate down. The revenue earned by TILA is paid by the lender in the form of a Yield Spread Premium (YSP). YSP is a commission paid to TILA Mortgage by the lender as a result of the borrower choosing an interest rate that is higher than what he would otherwise qualify for by paying points to buy the rate down.

2. With Points - The borrower opts to pay points in order to buy the interest rate down. The lender pays no commission to TILA Mortgage under this option. As a result TILA Mortgage's compensation for its loan origination services is derived entirely from the borrower in the form of a broker fee. If you intend to live in your home for more than 8 to 10 years and do not anticipate a need to refinance during this period then this option generally provides the lowest Annual Percentage Rate*** and offers the potential of saving you the most money in interest charges.

**Points are fees paid by the borrower to the lender to obtain a lower interest rate. A point is equal to 1%, or a fraction of, the loan amount. Therefore; 1 point on a $250,000 equates to $2,500 in added closing cost.

***Annual Percentage Rate is the effective cost of credit expressed as a percentage rate. The annual percentage rate is the finance charge the borrower actually pays, including loan interest, points, and origination fees.

We look forward to providing you the information you need to make the best decision regarding your home financing. Our number one goal is to save you money while completing your loan in an efficient and timely manner. If we can achieve that we know we will have gained another satisfied client who will refer friends and family to us. Please read About Us to learn how TILA Mortgage is different from all other mortgage companies

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