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."
Information adapted from the U. S. Department of Housing and
Urban Development. Reprinted with permission.
