(855) 411-2372
An official website of the United States Government
It’s simple: You want to own a home. But we know the finances can be much more complicated than that. From adjustable rate mortgages to home equity lines of credit, ask CFPB your questions about mortgages. Find a question by searching, or by browsing this complete list. Select topics on the side to narrow your results.
Sort by: most helpful | most viewed | recently updated
A Qualified Written Request (QWR) is written correspondence that you or someone acting on your behalf can send to your servicer to ask for information relating to the servicing of your loan or to dispute errors about your loan account. ...
Your lender has to disclose your final interest rate again only if it changes. After you applied for a mortgage, you should receive a Good Faith Estimate (GFE) that indicated the interest rate the GFE was based on. If you locked your ...
You can get a mortgage from a wide variety of lenders, including commercial banks, thrift institutions, mortgage loan companies, and credit unions. You can also find a mortgage loan through a broker, who does not lend you the money but ...
Some financial institutions operate as both lenders and brokers, so you should ask whether a broker is involved in your loan transaction. Most brokers are paid a fee for their services on a specific loan. The fee may be in ...
The Nationwide Mortgage Licensing System & Registry (NMLS) maintains a database of licensed brokers. Additionally, you can usually check if a broker is licensed or if there has been an order of disciplinary action against the broker by checking with ...
Lenders are required to mail a Good Faith Estimate (GFE) to you within three business days after you completed your application. If a lender denies your application, it must mail you a notice of the denial within 30 days of ...
Don’t be discouraged. Another lender may approve you for a loan. Meanwhile, you should request an explanation from your lender as to why your application was denied. The lender is required to provide you this explanation in writing if you ...
Unless the lender denies your application, you should look for these four important documents either at or shortly after application: 1. Good Faith Estimate (GFE) disclosure. Generally, the lender is required to send to you the GFE within three business ...
You do not have to sign anything at closing unless you are satisfied with the terms. If you are borrowing money to buy a home, you likely have a contract with the seller. That contract may limit the amount of ...
If you have a rate lock agreement, then your interest rate cannot change. You will probably have to pay a fee to lock your rate and the rate lock agreement is usually separate from the Good Faith Estimate (GFE). Unless ...
