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 Paperwork and fees If you are looking to buy a home or refinance your current mortgage, you can't avoid having to gather a lot of paperwork to apply for a loan. You will need to satisfy a list of credit requirements, negotiate the best loan terms and understand a lot of legal jargon. You will be asked for a stack of financial documents when you apply for your mortgage. In return, you will get disclosures and various information. The most important document you will receive is the good faith estimate of closing costs. The good faith estimate is a vital part of your mortgage application, but there are other details that you must understand. For example, you need to know the difference between prequalification and preapproval. You need to be prepared for the questions the lenders will ask and the questions that you need answered. You need to know what you should look for in the good faith estimate. Knowing what all the paperwork and fees is about will potentially save you a lot of money.