What Happens After I Submit My Application?

Within 3 business days after completing the loan application, the lender must provide you with a “Good Faith Estimate”, or a “MLDS” in California, of the anticipated closing costs. Within the same 3 days, you will receive the federally required ‘Truth-In-Lending Disclosure’ statement showing the monthly payment.

The total cost of the loan is stated as an Annual Percentage Rate (APR). The APR represents the closing costs as a percentage rate through a very complex formula that very few understand. Pay attention to the costs and the rate that you are quoted or locked into.

Request a free mortgage quote

Do you have more questions about the mortgage refinancing loan application process? Click on a question below to get the answers you need to make informed, educated financial decisions.

This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.

  • Powered by SecureRights

    Answer these questions to request a FREE quote