What is a uniform residential loan application exactly?
If you're diving into the home-buying process, you're going to hear a lot of jargon, including the big question: what is a uniform residential loan application and how does it affect your mortgage? While it sounds like a mouthful of dry, legal-speak, it's actually just the standard form used by almost every mortgage lender in the United States. You'll often hear professionals refer to it simply as "the 1003" (pronounced ten-oh-three). ...