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Sonic Realty

DJ Peterson

Understanding Eminent Domain: What It Means for Property Owners

Eminent domain is a powerful tool that allows governments to take private property for public use, provided that the property owner receives just compensation. This concept, enshrined in the Fifth Amendment of the U.S. Constitution, has significant implications for property owners. Understanding how eminent domain works, its purposes, and its impact on individuals is crucial […]

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Understanding Probate Sales: What You Need to Know

Probate sales are a unique real estate market aspect that often attracts investors and homebuyers looking for potential deals. These sales occur when a property is sold during probate, typically following the homeowner’s death. At the same time, probate sales can offer attractive opportunities but have specific challenges and procedures. Here’s what you need to

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Understanding Encumbrances: What Property Owners Need to Know

When navigating the world of real estate, the term “encumbrance” frequently arises, often causing concern among property owners and prospective buyers. An encumbrance can affect a property’s value, use, and transferability, making it a crucial concept to understand. This blog post will delve into encumbrances’ definitions, types, and implications, helping you make informed decisions in

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Understanding Ingress and Egress: Essential Concepts for Property Owners

When dealing with real estate, terms like “ingress” and “egress” frequently arise, especially concerning property access and easements. These concepts are fundamental to property rights and usage, and understanding them can be crucial for homeowners, developers, and potential buyers. This blog post will explore the definitions, importance, and legal implications of ingress and egress. What

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Understanding Servient Tenement: Key Concepts and Considerations

In property law, the concept of servient tenement is not just a legal term, but a crucial aspect that directly influences property use, rights, and responsibilities, especially when dealing with easements. Whether you’re a property owner or a real estate professional, understanding servient tenement is not just beneficial, but essential. This blog post delves into

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Understanding the Right of Encumbrance in Property Ownership

Introduction: The right of encumbrance is a fundamental aspect of property ownership that allows individuals to pledge their property as collateral for loans or other obligations. This blog post will delve into the right of encumbrance, its implications for property owners, and the different types of encumbrances that may affect real property. Understanding the Right of

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Understanding the Right of Transfer in Property Ownership

Introduction: The right of transfer is a fundamental aspect of property ownership, allowing individuals to convey their property interests to others through various legal mechanisms. In this blog post, we will explore the right of transfer’s significance, its implications for property owners, and the legal frameworks governing property transfers. Understanding the Right of Transfer: The right of

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Affiliated Business Arrangement Disclosure Statement
This is to give you notice that Sonic Loans Inc., Sonic Title Agency LLC, and Sonic Realty LLC have a business relationship. The nature of the relationship between the Referring Party and the provider(s), including percentage of ownership interest, if applicable, is: Sonic Loans Inc., Sonic Title Agency LLC, and Sonic Realty LLC are all 100% owned by the same party. Because of this relationship, this referral may provide any of the above parties with financial or other benefit.
A. Set forth below is the estimated charge or range of charges for the settlement services listed. You are NOT required to use the listed provider(s) as a condition for settlement of your loan on, or purchase, sale, or refinance of, the subject property.
THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
Provider and Settlement ServiceCharge or Range of Charges
Sonic Realty LLC1%-6% of purchase price
Sonic Title Agency, LLC Title Insurance Policy: $950 - $1706 on a $250,000 property. (Rates vary and are dependent on the state, selling price, and loan amount on the property.)
Title Search Fee: $250 - $325 (where applicable)
Closing Fee: $450 - $650
Sonic Loans Inc.

This company provides various real estate mortgage loan origination activities either as a third-party originator or a mortgage broker, including loan pre-qualification, competitive bid process (when providing third-party origination services), loan origination, loan pre-approval, loan structuring, processing, and closing.

Loan Origination Charge: 0-3 % of loan amount (may include 3rd party fees)
Loan Discount Fee/points: 0.5%-6% of loan amount.
Application/Processing Fee: $0.00 - $875.00
Flood and tax service: $0.00 - $95.00
Underwriting Fee: $0.00 - $1295.00
Document Review Fee: $0.00 - $400.00
Appraisal Fee: $0.00 - $850.00
Credit Report Fee: $0.00 - $135.00

Actual charges may vary according to the particular lender selected, the particular services provided, and the underlying transaction, borrower selections, etc. Some or all of these fees may be charged by third parties and/or the Member Mortgage Lender/Mortgage Broker. The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.75% of the loan amount to Sonic Loans in connection with a range of loan origination services provided by Sonic Loans to the Member Lender/Mortgage Broker. The fees are paid either directly to Sonic Loans by the Member Lender/Mortgage Broker or billed directly to you at closing.
B. Set forth below is the estimated charge or range of charges for the settlement services of an attorney, credit reportingagency, or real estate appraiser that we, as your lender, will require you to use, as a condition of your loan on this property, to represent our interests in the transaction.
Sonic Loans Inc. provides mortgage lender/broker services. Sonic Realty LLC provides real estate brokerage services. Sonic Title Agency LLC provides title insurance and settlement services.

Provider and Settlement ServiceCharge or Range of Charges
Appraisal Fee$0-$800
Credit Report Fee$63-$125
 Actual charges may vary depending on the lender and loan program selected which can be found on your loan estimate.
ACKNOWLEDGMENT
I/we have read this disclosure form and understand that Sonic Loans Inc., Sonic Realty, LLC, or Sonic Title Agency LLC are referring me/us to purchase the above-described settlement service(s) and may receive a financial or other benefit as the result of this referral.