(855) 411-2372
An official website of the United States Government
It’s simple: You want to own a home. But we know the finances can be much more complicated than that. From adjustable rate mortgages to home equity lines of credit, ask CFPB your questions about mortgages. Find a question by searching, or by browsing this complete list. Select topics on the side to narrow your results.
Sort by: most helpful | most viewed | recently updated
Unless the lender denies your application, you should look for these four important documents either at or shortly after application: Good Faith Estimate (GFE) disclosure. Generally, the lender is required to send to you the GFE within three business days ...
Your lender has to disclose your final interest rate again only if it changes. After you applied for a mortgage, you should receive a Good Faith Estimate (GFE) that indicated the interest rate the GFE was based on. If you locked your ...
Carefully review all documents that you receive at or before the closing to make sure that the terms of your mortgage have not changed. For example, compare the closing cost items listed on your Good Faith Estimate (GFE) to those ...
If you did not get a Good Faith Estimate within three business days of the receipt of your loan application, contact your lender or mortgage broker and ask if it has been sent and when it was sent. The lender ...
A loan application means that you have given a lender or a mortgage broker certain information in anticipation of a credit decision. Information you give might include your name, a property address,desiredloan amount, social security number (to obtain a credit ...
A lender or mortgage broker cannot require you to provide any documents to verify the information you provide on the loan application as a condition for providing you with a Good Faith Estimate (GFE). However, a lender or mortgage broker ...
You can estimate your monthly mortgage payment if you know some basic information. How much do you plan to borrow? What is the loan’s interest rate? How long do you have to repay your loan (for instance, 15 or 30 ...
Daily interest charges show the charge due at settlement for any daily interest that will accrue on your loan for the period between the date of settlement and the first day of the period covered by the first scheduled mortgage ...
Homeowner’s insurance includes charges for insurance your lender will probably require you to buy to protect the property from hazards such as fire and theft. Standard homeowner’s insurance does not cover damage from earthquakes or floods, but it may be ...
The tradeoff table on page three of your Good Faith Estimate (GFE) can help you understand how much your loan payments could change if you pay more settlement charges and receive a lower interest rate or if you pay lower ...
