What is the Georgia Mortgage Application?

The Georgia mortgage application process is not so different from how it’s done in other states. In fact, you will use the Uniform Residential Loan Application (sometimes referred to as a 1003) form that is used by virtually all mortgage lenders in the US. The form is pretty in depth, but with the help of a licensed mortgage loan officer, filling one out can be pretty painless.

How Much Does it Cost to Fill Out a Mortgage Application in Georgia?

The cost of completing an application can vary from lender to lender, it can range from free to around $500. Some lender will charge a percentage based on the loan price and some do not charge a fee at all. Keep in mind, getting pre approved cost nothing, but when you are ready for the formal mortgage application, you may have an associated fee. Be sure to ask your mortgage lender before you apply.

What is involved with a Georgia Mortgage Application?

Your mortgage lender will ask you to provide some information about yourself. A bulk of that information will be gathered from relevant documents which you will be asked to submit. The most common are employment records, income records, your assets, debts, property information, credit history, and eligibility certificate if you are applying for a VA loan. It is also standard practice for Georgia lenders to make phone calls, either to collect more information, or verify that what you have submitted is accurate.

Other than personal information, you will also have to provide a few details about the loan and property. For instance, you have to indicate the type of loan you are applying for as well as give some specifics about the type of property you are planning to purchase with the mortgage loan. All in all, the Georgia mortgage application process is not very complicated. Get one of the best Georgia mortgage lenders behind you if you want to avoid any mistakes. Moreira Team is ready to help.