What FHA form compares FHA loan costs to conventional loan costs?

The FHA informed Consumer Choice Disclosure is designed to help consumers understand the differences in loan costs between FHA loans and conventional loans. This form is provided to ensure that potential borrowers are fully informed about the loan options available to them, including costs, fees, and other comparisons that can impact their borrowing decisions. By explicitly outlining the costs associated with FHA loans in relation to conventional loans, this disclosure empowers consumers to make educated decisions based on their financial circumstances and preferences.

This focus on clarity and consumer education is essential within the framework of the SAFE Act, which emphasizes the importance of providing accurate and comprehensive information to borrowers in order to facilitate informed decision-making in the mortgage process.