At 1-800MyMoney.com one of our goals is to make sure you are familiar with, and recognize, these very important forms so that you feel more comfortable during your mortgage loan application process as well as gaining knowledge you can share with family, friends as well as co-workers.

You know what you are getting is what you said you wanted - no strings attached, no hidden fees, no smoke and mirrors, and no bate and switch.

No other company will show you these important mortgage loan application forms - and explain them to you. Before you make a commitment, request you be given all forms that should disclose the actual closing costs to you. Others want to keep you confused, misinformed and off guard. We want you to make an informed decision that you are pleased with, not be taken advantage of.

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1-800MyMoney

(1-800-696-6639)

Home Equity Lending Professionals

Calculate your new mortgage payment.

So lets take a look at these forms:

NOTE: Please click on your 'BACK' browser to return to this page once you have viewed a form.

GFE (Good Faith Estimate). Is one of the most important forms. Why? Because only by having a completed GFE will you have a real solid estimate of closing costs and see a line-item list of typical escrow closing fees. 

Anything other than a real GFE is not worth the paper it is printed on. There are companies that give prospective borrowers a GFE-look alike, but it is also not worth anything since it will have some type of statement in the first paragraph stating "This is not a good faith estimate". (A major bank actually uses this to make their borrowers think the fees they see will be the ones they get, but in most cases they aren't even close.). Some companies give out a short hand written list of fees trying to convince borrowers that the list is a real GFE and those fees are the total costs while hiding the actual real and normal escrow refinancing or purchasing fees .Astonishingly, many companies do not give their borrowers a GFE until it is time to sign papers at escrow! That is terrible but true.

A real GFE has, on its left side, a vertical set of numbered groups ( beginning with an 800 group and ending at the bottom with a 1000 group ) in a column on the left-hand side and a column of blank spaces on the right where any charges are listed. If a company even bothers to provide you with a what you think is a GFE it may only be their own homemade form. It must look like the one you see when you click on the link or it is not a real GFE - The one exception is in California we also have what is called a MLDS (Mortgage Loan Disclosure Statement). It is used in the same manner as the GFE. It also has two pages with additional loan disclosures on page two.

Th MLDS is the preferred from used by

Home Equity Lending Professionals

(1-800MyMoney.com).

Federal and State Disclosures:

• Borrowers' Certification and Authorization
• Notice to the Home Loan Applicant ((credit score information disclosure)
• Housing Financial Discrimination act of 1977 (Fair Lending Notice)
• Equal Credit Opportunity Act (ECOA)
• Real Estate Agency Disclosure
• Privacy Policy Disclosure
• Patriot Act Information Disclosure  and Customer ID Agreement
• Mortgage Loan Origination Agreement
• ARM (adjustable rate mortgage) Consumer handbook

The Application

Your application (referred to as the 1003) has four pages and is divided into sections of Personal, Employment, Income, Assets and Liabilities, Detail of Loan Transaction, Credit and housing questions, and government monitoring section.