New uniform residential loan application form starting March 1st

[Ric Ernst]

Just a heads up that an updated standard loan application form 1003 will be mandatory starting March 1st. I'm applying for lending on a couple properties and my lender told me that the new form will be much longer (like going from 4 or 5 pages to around 17 pages) and that lender's fees will also be going up. If you're on the fence about seeking a conventional loan, it might be wise to apply now rather than next week.