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FREEandCLEAR Mortgage Resources

The FREEandCLEAR mortgage experts insights, guides, checklists, timelines, cheat sheets and example documents are an invaluable resource for individuals navigating their way through the mortgage and refinance processes. In addition to containing a wealth of helpful information, all of the FREEandCLEAR resources can be shared electronically and are formatted for printing allowing you to take them anywhere the mortgage process may take you.

  • Mortgage Expert Insights
  • Money and time saving mortgage tips from the FREEandCLEAR Mortgage Expert
  • Mortgage Program Pros & Cons
  • Understand the pros and cons of popular mortgage programs so you can select the one that is right for you
  • Mortgage ProgramsAdjustable Rate Mortgage Pros and Cons

    Mortgage ProgramsBank of America Affordable Loan Solution Pros and Cons

    Mortgage ProgramsChase DreaMaker Mortgage Program Pros and Cons

    Mortgage ProgramsCitibank HomeRun Mortgage Pros and Cons

    Mortgage ProgramsFHA 203(k) Loan Program Pros and Cons

    Mortgage ProgramsFHA Cash Out Refinance Pros and Cons

    Mortgage ProgramsFHA Energy Efficient Loan Pros and Cons

    Mortgage ProgramsFHA Mortgage Pros and Cons

    Mortgage ProgramsFHA Streamline Refinance Pros and Cons

    Mortgage ProgramsFixed Rate Mortgage Pros and Cons

    Mortgage ProgramsHARP 2.0 Pros and Cons

    Mortgage ProgramsHELOC Pros and Cons

    Mortgage ProgramsHome Equity Loan Pros and Cons

    Mortgage ProgramsHome Possible Mortgage Pros and Cons

    Mortgage ProgramsHomeOne Mortgage Program Pros and Cons

    Mortgage ProgramsHomeReady Mortgage Pros and Cons

    Mortgage ProgramsHomeStyle Energy Mortgage Pros and Cons

    Mortgage ProgramsHomeStyle Renovation Mortgage Pros and Cons

    Mortgage ProgramsInterest Only Mortgage Pros and Cons

    Mortgage ProgramsNACA Mortgage Program Pros and Cons

    Mortgage ProgramsPACE Loan Pros and Cons

    Mortgage ProgramsPros and Cons of Using a Big Bank for a Mortgage

    Mortgage ProgramsPros and Cons of Using a Credit Union for a Mortgage

    Mortgage ProgramsPros and Cons of Using a Mortgage Bank

    Mortgage ProgramsPros and Cons of Using a Mortgage Broker

    Mortgage ProgramsUSDA Home Loan Pros and Cons

    Mortgage ProgramsUSDA Streamline Refinance Program Pros and Cons

    Mortgage ProgramsVA Energy Efficient Mortgage Pros and Cons

    Mortgage ProgramsVA Mortgage Pros and Cons

    Mortgage ProgramsVA Streamline Refinance (IRRRL) Pros and Cons

    Mortgage ProgramsWells Fargo yourFirst Mortgage Program Pros and Cons

  • Mortgage Process Guides
  • Comprehensive guides that walk you through the mortgage and refinance processes step-by-step
  • Mortgage ProgramsFirst-Time Home Buyer Cheat Sheet

    Mortgage ProgramsHome Purchase Mortgage Guide

    Mortgage ProgramsMortgage Refinance Guide

    Mortgage ProgramsReverse Mortgage Guide

  • Mortgage Process Checklists
  • Checklists that help you prepare and get organized for the mortgage and refinance processes
  • Mortgage ProgramsHome Purchase Mortgage Checklist

    Mortgage ProgramsMortgage Refinance Checklist

  • Mortgage Process Timelines
  • Detailed timelines to help you stay on track and on target throughout the mortgage and refinance processes
  • Mortgage ProgramsHome Purchase Mortgage Timeline

    Mortgage ProgramsDay-by-Day Mortgage Process Schedule

    Mortgage ProgramsMortgage Refinance Timeline

  • Example Mortgage Documents
  • Detailed overview and examples of key mortgage process documents
  • Mortgage ProgramsAppraisal Report

    A comprehensive analysis of the value of the home you are seeking to purchase or refinance

    Mortgage ProgramsLoan Estimate (LE)

    A lender must provide the borrower a Loan Estimate (LE) that outlines the estimated key terms of a mortgage including interest rate and closing costs, within three days of the borrower submitting a loan application

    Mortgage ProgramsClosing Disclosure (CD)

    A lender must provide a Closing Disclosure (CD) to the borrower that outlines the final, actual terms of the mortgage including interest rate, closing costs and mortgage features at least three business days prior to the mortgage closing

    Mortgage ProgramsTruth-in-Lending Statement

    A standardized form provided by the lender at the time the borrower submits a loan application that presents detailed information about mortgage costs and features, including the APR and finance charge

    Mortgage ProgramsQualified Mortgage (QM) Scorecard

    A form that determines the borrower’s ability to repay the mortgage based on government guidelines

    Mortgage ProgramsTitle Report

    A report issued by a title company or attorney that verifies the legal ownership of a property and identifies any recorded property liens or easements

    Mortgage ProgramsOffer to Purchase

    A document that outlines the key terms of your proposal to purchase a property

    Mortgage ProgramsMortgage Note

    Document that outlines the key terms of the mortgage and indicates the borrower's promise to repay the debt

    Mortgage ProgramsLoan Application (Form 1003)

    Lenders require a borrower to submit an application, also referred to as a Form 1003, when applying for a mortgage. The application focuses on the borrower's financial profile and employment history

    Mortgage ProgramsLender Fees Worksheet

    A detailed breakdown of mortgage costs and expenses. Although the lender is not legally required to provide you with the fees worksheet, it should provide it to you if requested

    Mortgage ProgramsHUD-1

    A standardized form provided by the closing agent at least one day prior to the closing of the mortgage that lists the final, actual terms and costs of a mortgage, including the interest rate, points and all one-time expenses

    Mortgage ProgramsGrant Deed

    The legal document recorded by the county government that conveys property ownership

    Mortgage ProgramsGood Faith Estimate (GFE)

    According to federal law, a lender must provide a Good Faith Estimate (GFE) of the key terms of a mortgage including interest rate and closing costs, at the time the borrower submits a loan application

    Mortgage ProgramsFirst Payment Letter

    Letter provided by lender when you close your mortgage that notes your monthly mortgage payment amount, when the payment is due and where to send the payment

    Mortgage ProgramsDeed of Trust

    This document is used in many Southern states in place of a mortgage to indicate that there is a promissory note (debt) on the property

    Mortgage ProgramsDeed of Reconveyance

    Document provided by a property seller’s lender indicating that the seller is released from his or her mortgage debt and that lender no longer holds a lien against the property

    Mortgage ProgramsVA Loan Analysis

    Document that determines a borrower’s ability to qualify for a VA mortgage

    About the author

    Harry Jensen, Mortgage Expert

    Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

    Harry Jensen LinkedInLinkedIn | Email Harry JensenEmail
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