When is it generally advisable to disclose mortgage terms to the borrower?

Disclosing mortgage terms to the borrower soon after the loan agreement is generally advisable because it ensures that the borrower fully understands the financial implications of the loan they are entering into. This timing allows the borrower to have a clear understanding of interest rates, payment schedules, fees, and other essential terms before they proceed further in the loan process.

Providing this information promptly helps to establish trust between the lender and borrower, ensuring that the borrower can make informed decisions regarding their financial commitments. It also aligns with regulatory requirements that often mandate transparency in lending practices, helping to protect borrowers from potentially unfavorable loan terms. Overall, timely disclosure empowers borrowers to assess whether the mortgage aligns with their financial goals and needs.