Finance
TRID (TILA-RESPA Integrated Disclosure) rules require the Loan Estimate to be provided within 3 business days of application and the Closing Disclosure 3 business days before closing. These rules apply to:
AAll real estate transactions including cash sales
BConsumer mortgages for residential properties of 1–4 units✓ Correct
COnly FHA and VA loans
DOnly purchase money mortgages, not refinances
Explanation
TRID rules apply to closed-end consumer mortgage transactions for real property — primarily 1–4 unit residential purchases and refinances. They do not apply to cash transactions (no mortgage), commercial loans, home equity lines of credit (which have their own TILA disclosures), or certain reverse mortgages.
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