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Phone 1003 yes from 1003 also known as uniformed residential loan application good low it is, and it is really an important form if you want to apply for a mortgage lets learn the part of this form the new form according to Fannie Mae it is a 10 as it is a 9 pages form on which initial 5 pages are asking about the details of borrowers and other four pages contains instructions lets start at the beginning you need to fill borrower and Cooper horse name in first block section type of mortgage and terms of loan you need to define which kind of mortgage you are taking agency case number and the number interest this will be done by the lender property information and purpose of loan the property you are seeking loan for you need to provide information and which kind of loan you are looking the purpose of loan because in you in the US you have the refinancing option you have our newly purchased is option section 3 contains borrowers information section 2 was related with property information now here on the left side you need to provide borrowers information on the right-hand side you need to provide Co borrowers information barbers in for a name social security number and personal information now section full contains the employment information yes it is really an important thing as it is going to show you show the inability of the borrower and area of work and where he is employed the nature of work if he's self self-employed then they need to provide information monthly income and this is section five that contains monthly income and calm white housing expenses whatever the income they're getting coal or borrower and how much expense they do number six contains the asset and liabilities so yes they need to provide whatever that they own and liabilities they have such as credit card some other loans in Section seven and section 8 there are details of transaction if they have done something and some declaration about like some cases against the borrower Captors bankruptcies they have file, so you declare that section 9 C is the agreement acknowledge you need to say this is the whatever the clause is you need to and there is an in you need to sign that whatever the terms the blenders are giving you to sign on they form the 1003 form is used when you are interested to taking mortgage at initial level and after that some verification of the information you have provided lender also create a final 1003 that will be very that contains verified information and that well show the land our that information can be taken for the decision purpose, so we come to know about the basic idea of 1003 from universe uniform residential loan application according to Fannie Mae thank you for listening and watching
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