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7 Things You Must Understand Before Starting The Mortgage Loan Application Process

[tps_header]Applying for a mortgage is a daunting process, so being informed is key to make the entire process go a little easier. Still, there are many things to learn and consider, so we have created an overview that gives you immediate access to the essentials of your mortgage application. These basics should give you a solid basis to start your application, so be sure to read on and discover them! [/tps_header]

Mortgage Type and Loan Terms

On your loan application, you will find the “type of mortgage and terms of loan” section. The information filled in this part of your application should match the mortgage and the terms you’ve discussed with the loan officer. If you have not selected your property yet, you can enter the amount of money you wish to borrow.

Related: The People Involved with Your Mortgage – Who Are They and What Do They Do?

Disclosure: The information provided by The Financial Genie is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. The Financial Genie does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Additionally, some of the organizations with products on our site may pay us a referral fee or affiliate commission when you click to apply for those products.

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