What is a 1003 Form?
Answer:
The standard application for all Fannie Mae and Freddie Mac mortgage loans is called the 1003 Form.
Before approving an applicant’s home loan request, mortgage lenders and brokers must access the borrower’s income. Thus, every applicant must complete a 1003 Form.

This form will request personal information about the borrower and co-borrower, employment information, monthly income, and debts/liabilities. Once applicants submit this form, lenders evaluate the listed information, along with the applicant’s credit history. The 1003 Form also allows a borrower to choose a specific type of home loan. For example, applicant’s can apply for a traditional 30-year mortgage, interest-only loan, or adjustable rate home loan.
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