Truth in Lending Disclosure

The Truth in Lending Disclosure statement informs your borrower about the cost of their credit for their loan.

When is a Truth in Lending Disclosure still required?
If you applied for a mortgage before October 3, 2015 or if you apply for a reverse mortgage, HELOC, certain homebuyer assistance programs or a manufactured housing loan that is not secured by real estate, you should receive a Truth in Lending disclosure.

How many times should you receive it?
You would expect to receive a Truth in Lending Disclosure twice. Initially when applying for a mortgage loan and a final one before closing.

What Disclosure should I use?
This may not be the correct form for your loan as the Truth in Lending Disclosure varies depending on what type of loan you have and other factors and, because it is now mostly replaced by the Closing Disclosure.

Learn more about Truth in Lending:
To make sure you use the correct form, check the Consumer Financial Protection Bureau website for blank forms, samples and further help, as well as learning more about the Truth in Lending Act.

• Truth in Lending Act at Wikipedia.org
• Truth in Lending Act at the Consumer Finance Protection Bureau (cfpb)

Lender Spreadsheet provides an editable sample Truth in Lending Disclosure form.

This form is purely for information only and is for a Fixed Rate loan.

Firstly, make sure you have entered all the setup information for your loan correctly, as some fields on the Truth in Lending form are automatically calculated for you.

Click on the TIL worksheet.

Enter your data in the highlighted fields only. All other fields are locked and automatically calculated.

Remove the Pink Color BEFORE Printing
The pink highlighted cells are designed to make it easy for you to enter your data and identify which cells are unlocked. However, for printing this is not ideal as the pink collar will be printed too.

Remove the highlight color from unlocked cells
It is easy to remove the pink highlight from editable cells. Learn how to remove the highlight color.

Print your Truth in Lending Disclosure
It is easy to print your Truth in Lending Disclosure or save it as a pdf file. Learn more about printing and saving to pdf.

Add a Signature Image
If you intend to save your form as a pdf and email it to your borrower, you can add an image of your signature, so that you do not need to print the form to paper first, sign it and then scan it to pdf. Learn how to add an image of your signature to your form.