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ATTENTION BORROWER!
This may be
the largest and most important loan you get during your lifetime. You
should be aware of certain rights before you enter into any loan
agreement.
-
You have the RIGHT to shop for the best loan for you and compare the
charges of different mortgage brokers and lenders.
- You have
the RIGHT to be informed about the total cost of your loan including
the interest rate, points and other fees.
- You have
the RIGHT to ask for a Good Faith Estimate of all loan and settlement
charges before you agree to the loan and pay any fees.
- You have the
RIGHT to know what fees are not refundable if you decide to cancel the
loan agreement.
- You have the
RIGHT to ask your mortgage broker to explain exactly what the mortgage
broker will do for you.
- You have
the RIGHT to know how much the mortgage broker is getting paid by you
and the lender for your loan.
- You
have the RIGHT to ask questions about charges and loan terms that you
do not understand.
- You have
the RIGHT to a credit decision that is not based on your race, color,
religion, national origin, sex, marital status, age, or whether any
income is from public assistance.
- You have
the RIGHT to know the reason if your loan was turned down.
- You have
the RIGHT to ask for the HUD settlement costs booklet "Buying Your
Home."
For "Buying Your Home" and other helpful information about RESPA,
visit our home page. For other questions, call (800) 569-4287. |
