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What information about the property is included in the Uniform Residential loan Application?

This information applies to the property for which you're seeking a mortgage: Loan amount. Loan purpose (such as purchase or refinance) Property address. Number of units. Property value. Occupancy (primary residence, secondary home, investment property, FHA second residence)

What is another name for the Uniform Residential loan Application?

The application is known as Fannie Mae Form 1003 or Freddie Mac Form 65.

What are the 4 steps in the loan application process?

Below are the stages that are critical components of Loan Origination process : Pre-Qualification Process : This is the first step in the Loan origination process. ... Loan Application : This is the second stage of the loan origination process. ... Application Processing : ... Underwriting Process :

What is a residential loan application?

The Uniform Residential Loan Application is used by lenders to determine your creditworthiness for a home loan. It's known within the mortgage industry as Fannie Mae Form 1003, and borrowers enter income, asset credit and other personal financial information into the redesigned form's nine sections.

How do I fill out a 1003 application?

How to Fill Out and Read Form 1003 Property information: Address, year built, intended property use. Loan information: Type and purpose of loan, amount, length of the loan. Borrower and co-borrower information: Name, Social Security number, marital status, address, phone number, date of birth.

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