borrowers-know your 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.
1.You have the RIGHT to shop for the best loan for you and compare the charges of
mortgage brokers and lenders.
2.You have the RIGHT to be informed about the total cost of your loan including the
points and other fees.
3.You have the RIGHT to ask for a Good Faith Estimate of all loan and settlement charges
you agree to the loan and pay any fees.
4.You have the RIGHT to know what fees are not refundable if you decide to cancel the loan
5.You have the RIGHT to ask your mortgage broker to explain exactly what the mortgage
will do for you.
6.You have the RIGHT to know how much the mortgage broker is getting paid by you and the
lender for your loan.
7.You have the RIGHT to ask questions about charges and loan terms that you do not
8.You have the RIGHT to a credit decision that is not based on your race, color, religion,
origin, sex, marital status, age, or whether any income is from public assistance.
9.You have the RIGHT to know the reason if your loan was turned down.
10.You have the RIGHT to ask for the HUD settlement costs booklet "Buying Your
For other questions call 1-800-217-6970.