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."
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