Question:

What is Fannie Mae Uniform Residential Loan Application (Form 1003) used for?

Answer:

When you apply for a conventional mortgage loan, your Fannie Mae-approved lender will use the Uniform Residential Loan Application form (also known as Form 1003) for the purpose of recording applicable financial information about you as a mortgage loan applicant.

This mortgage application form will be completed with the assistance of your lender and it will require filling in information like your assets, your income, a description of the property you are planning to purchase, etc. The application may be accepted by the lender during a live meeting, via the Internet or mail, or over the phone. Since the original application form must be signed by the borrower at the time of completion, if it is taken over the phone or via the Internet, it should be signed as soon as possible thereafter.

You might want to check in the Mortgage Application Forms category of our website whether we have this particular residential loan application form for download.

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