6 Things Required For A Mortgage Application

By law, a mortgage loan application is valid when these things are provided to the lender:

  • Loan Amount applied for
  • Estimated Property Value
  • Property Address
  • Borrower Name
  • Borrower ID — preferably Social Security Number
  • Borrow Income

Supplying these establishes a legitimate loan application under the Federal TRID guidelines.

While submitting these in written form is preferable, providing them in conversation — live, phone call, or video conference — is also valid.  You should request a written record of the conversation, of course.

Once supplied, these 6 facts start the clock for a lender.  Under the TRID guidelines, financial institutions must return a Loan Estimate within 3 business days.  (See other videos on Loan Estimate details here.)

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