find the things which are involved while purchasing home loan.

1. Understanding the Documents Involved
When you purchased your home, you reviewed and signed many
documents prior to and at closing. When you refinance your mortgage,
you will be required to do the same as this is a new loan with new
rates and terms. Take some time to review these documents again and
refresh your knowledge.

2. Good Faith Estimate: Within three business days
of submitting your completed loan application,
your lender must provide you with a Good Faith
Estimate (GFE) that outlines your loan terms,
escrow account information, and all estimated
costs associated with new your loan that will be
due at closing.

3. Forms You’ll
See Prior to
Closing
This is the same mortgage loan
application you completed when
you purchased your home,
capturing key information about
you, your finances, and details of
your potential mortgage. With this
form, you’ll be required to provide
information about your monthly
income, combined household
expenses, assets and liabilities,
and personal information such as
your social security number and
marital status. This information
will help your lender assess your
eligibility for home extension
loan.

4. Truth in Lending Disclosure
Statement: Within three business
days after completing your
mortgage application, your lender
will send you a Truth in Lending
Disclosure statement. This
disclosure includes the total
amount being financed, your
finance charge, your Annual
Percentage Rate (including
interest rate, points, broker fee,
and other costs), and your
payment schedule. Your lender
will give you an updated version of
your Truth in Lending disclosure at
closing.