1003

A 1003 is a Uniform Residential Loan Application.

A 1003 or Uniform Residential Loan Application is the standard loan application completed by borrowers when applying for a mortgage loan.

The purpose of the 1003 application is to document your personal and financial information for use by an underwriter in the loan process.

The 1003, loan application, needs to be filled out as completely and accurately as possible. Any intentional or negligent misrepresentations of the information completed on a loan application may result in civil liability.

The 1003 will look the same no matter what residential lender you work with. It's exactly the same form that everybody in the industry uses.

Most loan officers will be happy to help you fill out the initial 1003.

A married couple filling out the 1003 can apply on the same application. However if you are applying with someone else and you are not married then you must fill out two separate applications.

This 1003 application is generally several pages long, and each page requires either intials or a signature, or both. This application is part of the initial process of applying for a mortgage loan.

Many mortgage broker's websites offer secured 1003 application submissions.

The 1003 mortgage application is the standard form that is used to obtain your personal and financial information. All of the information that you provide is kept secure and only shared with the lender.

Make sure you look the loan application (1003) over to verify the 1003 is filled out properly, accurately and truthfully before you sign the loan application. You are signing the 1003 to not only apply for a home loan but also to verify the content and truthfullness of all of the information listed on the 1003.

If there are any mistakes on the 1003 that your loan officer has give to your for the final review. Be sure to circle the area that contains the mistake, correct it and initial the change. Then Fax back the document to your loan officer.

You can request that your 1003 be emailed, faxed, or sent via traditional mail, however if state law permits, email is the most efficient means to receive your printed loan application by.

» DISCLAIMER: The information contained in this article on '1003' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.