Ginnie Mae Logo - Back to Home Page Your Path To Homeownership
Contact Us Subscribe Site Map
Search Entire Site
Search Only Apms and Guides

Home
About Ginnie Mae
For Issuers
For Investors
Your Path To Homeownership
HomeZone (For Kids)

Applying For A Loan

Once you have negotiated a final purchase offer with the seller, you are ready to finalize the loan application process. Under RESPA (Real Estate Settlement Procedures Act), lenders are legally required to provide you with a good faith estimate within three days after receiving your application. The information gives you an estimate of your closing costs and monthly payments. This good faith estimate does not require lenders to provide a detailed breakdown of the closing cost items or to identify the persons responsible for the payments. Therefore, it is important for you to work with your real estate agent or attorney to understand all the closing cost fees. This will ensure that there are no unexpected expenses related to your final closing costs.

 

Additional Loan Information

 

Previous         Next

 
Top of Page
 
PRIVACY POLICY
HUD Web Site