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Mortgage Borrowers' Rights
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.
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