Mortgage Application: Do You Have To Read EVERYTHING?
Posted by Florida Realty Marketplace on
The 500 Page Mortgage Application Myth
A few years ago, the Mortgage Bankers Association released a statement claiming the average mortgage application file contains over 500 pages!
However, this includes a standard application form, disclosures, and all the supporting documents. An appraisal, purchase contract, credit report, title search and tax returns could potentially make up hundreds of pages right there.
But what you actually have to read and deal with is not that much.
Here are the most important disclosures to consider when you complete a mortgage application.
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