Mortgage Help   Mortgage Rates Real Estate Credit Foreclosure Tax Mortgage Rates  Mortgage Basics Chapter 1: How much house can you afford? Homeownership Should You Buy or Rent Summary   Chapter 2: Adjustable-rate mortgages ARM and a fixed-rate mortgage Fixed-rate mortgages Understanding the key elements Which type of lender is right for you? Other types of mortgages Subprime Summary   Chapter 3: Your credit score Down Payment How lenders set rates Low down payments Mortgage insurance Your mortgage payment Mortgage Points Summary   Chapter 4: The good faith estimate Inspection and Insurance Necessary paperwork for a buyer Other lender paperwork Paperwork and fees Prequalification and preapproval Special circumstances Summary   Chapter 5: Ten questions to ask Turned down for a mortgage Underwriting What lenders ask Summary   Chapter 6:  Understanding the closing process Escrow Summary   Chapter 7: When your mortgage is sold Avoiding foreclosure Paying ahead Payment changes Refinancing Removing mortgage insurance Summary Other lender paperwork The good faith estimate isn't the only documentation the lender must provide you with within three days of applying for a mortgage. The other required disclosures include: The Truth in Lending Act statement The federal Truth in Lending Act requires lenders to disclose to you, the borrower, the terms and conditions of a mortgage, including the annual percentage rate, additional fees and other charges. This must be provided in writing. However, some lenders may lawfully exclude certain fees, such as the property appraisal, title search and insurance, notary and some recording fees, credit report and flood certification. This makes it hard for borrowers to compare the costs of a mortgage. Ask your lender to go over the Truth in Lending statement with you. What you want to do is break each charge or fee down. If the information that is disclosed changes, the lender must provide you with an updated form before closing. The servicing disclosure statement Federal law gives you the right to know if someone else will eventually be your mortgage servicer. This statement will tell you whether or not your mortgage will be sold or assumed by another lender that will collect payments, handle disputes, send out escrow statements and perform other lender functions after closing. Affiliated business arrangement disclosure If you apply for a mortgage through a company operated by a builder or real estate agent, you should receive an affiliated business arrangement disclosure when you are referred to the mortgage company. The form states that you are not required to use the services of this specific company and are free to shop for a mortgage anywhere you choose.