1. Property information. The application begins with a section on the property. Questions as to the type of loan sought, the terms of the loan, location and legal description of the property, the property's value, and the manner of taking title must be completed. This information is used to determine how much security for the loan will be provided.

2. Borrower information. The next section of the application request a borrower's name, address, telephone number, Social Security number, marital status, and employer. This information helps the lender to determine both the borrower's ability and willingness to repay the loan.

3. Dependence. The lender will want to know hundred dependence the borrower must support. Although children help stabilize a borrower, they also add the financial publication of the borrower.

4.Implement information. The next section of the form asks for the borrower's implement information and how to contact the borrower's employer to confirm the information given.

5. Income. The section regarding income provides space for primary implement income, over time, bonuses, commissions, dividends and interest, net rental income, and information regarding income from any other sources.

6. Monthly housing expense. The monthly housing expense is made up of such items as rent, principal and interest payments, any secondary financing payments, hazard insurance premiums, real estate taxes, mortgage insurance premiums, and homeowners association dues.

7. Assets and liabilities. In this section the borrower is required to list all assets and liabilities. Assets include cash deposit, check in saving accounts, stocks and bonds, life insurance policies, owned real estate, retirement funds, automobiles, and other personal property. Liabilities include any installment debts, automobile loans, released a loans, alimony, child support payments.

8. If this is a purchase transaction, the next section will be filled out. The buyer is to fill in the purchase price, closing costs, prepaid escrow expenses, mortgage amount, any secondary financing, an equity, amount of cash deposit, closing costs to be paid by the seller, and an estimate of cash amount that the borrower will be required to pay at the close of the transaction. In this section a loan officer can help. It may be left blank until the final closing date.

9. Declarations. In this section the buyers are required to note is that have been any legal judgments against them, if they have had a foreclosure within past seven years, if they declare bankruptcy within the past seven years, and in their party to any lawsuits. The answer to these questions will be of extreme interest in the lender. Obviously, and affirmative answer to any one of them could possibly affect the ability of the borrower to obtain a loan.

10.Borrower's signature and information from government monitoring purposes. Finally, there's a space for the buyer to date and sign the application. Below this space is a section that asks for the race and national origin of the borrower. This information is entirely voluntary on the part of the borrower and its so collected to carry out the federal government's antidiscrimination laws.