THE MORTGAGE PROCESS

APPLICATION

Complete a formal Fannie Mae 1003 application.  This  application gives details as to:

• Loan transaction
  • type of loan
  • terms of loan
  • amount of loan
  • length of loan
  • interest rate
  • costs
• Borrower information
  • current residence
  • available cash for down payment and closing costs
  • credit history
  • employment information
  • income
  • present housing costs
  • assets
  • debts
• Property information
  • cost
  • location
  • description
  • age
  • how title will be held
  • subordinate financing

Written permission slips will be required for follow up verification at your banks, employer, etc.

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