fbpx

Sonic Realty

Uncategorized

Exploring Tenancy in Common (TIC): What You Need to Know

Tenancy in Common (TIC) is a form of property ownership that allows multiple individuals to hold a shared interest in a property while retaining individual rights to their respective portions. In this blog post, we’ll explore TIC in detail, including how it works, its advantages and disadvantages, and critical considerations for prospective property owners. Understanding Tenancy […]

Exploring Tenancy in Common (TIC): What You Need to Know Read More »

Understanding VA Loans: A Comprehensive Guide

VA loans, backed by the U.S. Department of Veterans Affairs (VA), are a valuable benefit available to active-duty service members, veterans, and eligible spouses. Designed to help military personnel achieve homeownership, VA loans offer numerous advantages, including competitive interest rates, no down payment requirement, and lenient qualification criteria. In this blog post, we’ll delve into the details

Understanding VA Loans: A Comprehensive Guide Read More »

Understanding the Role of Underwriting in Realty Transactions

Underwriting plays a crucial role in ensuring the smooth and successful completion of transactions in the world of real estate. It involves thoroughly assessing various factors related to a property and the parties involved in the transaction to determine the risk level and financing eligibility. Let’s explore what underwriting entails, its significance, and how it

Understanding the Role of Underwriting in Realty Transactions Read More »

Understanding the Importance of Title in Realty Transactions

In real estate transactions, “title” refers to the legal ownership rights to a property. It’s a crucial aspect that both buyers and sellers need to understand to ensure a smooth and legally sound transaction. Let’s delve deeper into what a title means, its significance, and the components involved. What is Title in Realty? Title in

Understanding the Importance of Title in Realty Transactions Read More »

Understanding Seller’s Disclosure: A Vital Component of Real Estate Transactions

In real estate transactions, a seller’s disclosure is a legally mandated document that provides essential information about the condition of a property to potential buyers. This document plays a crucial role in ensuring transparency and fairness in the buying process, as it allows buyers to make informed decisions about whether to proceed with the purchase. Let’s delve into the

Understanding Seller’s Disclosure: A Vital Component of Real Estate Transactions Read More »

Understanding Seller Concessions: What Homebuyers Need to Know

Seller concessions, also known as seller contributions or assistance, are concessions made by the seller to the buyer during a real estate transaction. These concessions can take various forms and are designed to help buyers cover closing costs, facilitate the purchase process, or address specific buyer needs. Understanding seller concessions is essential for homebuyers to

Understanding Seller Concessions: What Homebuyers Need to Know Read More »

Understanding Short Sales: A Guide for Homeowners and Buyers

A short sale occurs when a homeowner sells their property for less than the amount owed on the mortgage, with the lender agreeing to accept the proceeds as complete satisfaction of the debt. Short sales are typically pursued by homeowners facing financial hardship and unable to afford their mortgage payments, providing an alternative to foreclosure. Let’s explore the ins

Understanding Short Sales: A Guide for Homeowners and Buyers Read More »

Navigating Property Taxes in Realty: Understanding the Basics and Implications for Property Owners

Property taxes are a fundamental aspect of real estate ownership, serving as a primary source of revenue for local governments to fund essential services and infrastructure projects. Understanding property taxes is necessary for property owners to manage their financial obligations and plan for the future. Let’s delve into the basics of property taxes in real estate, how

Navigating Property Taxes in Realty: Understanding the Basics and Implications for Property Owners Read More »

REO in Realty: Understanding Real Estate Owned Properties

In the realm of real estate, the term ‘REO’ is a unique one. It stands for Real Estate Owned, a term that refers to properties that have been foreclosed upon and repossessed by the lender or financial institution. These REO properties, unlike others, become available for sale after unsuccessful foreclosure auctions, offering a distinct opportunity

REO in Realty: Understanding Real Estate Owned Properties Read More »

Scroll to Top
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.