This is the number assigned by the Federal government to the standard form which all customers fill out to apply for a home loan.Actually the official title of the form 1003 is the Uniform Residential Loan Application or URLA.
A 1003 Uniform Residential Loan Application can be completed either as a hand-written document or a computer generated document. All signitures should be written in ink.
The 1003 may also be known as the loan application.
The 1003 also includes sections that detail the borrowers assets and liabilities.
The first page of 1003 application contains all the borrower, coborrower, property and loan information. The beginning section of the first page details the property and purpose of loan. The Second section contains all borrower and coborrower personal information. The last section details employment information for borrowers.
A 1003 gives a "bird-eyes" view of an applicant/applicants for a mortgage. It describes the person, income, liabilities, and assets. It's the basic and essential peice to applying for a home loan.
This
is not a commitment to lend. Restrictions may apply. Information is
subject to change without notice. All loans are subject to credit approval.
Equal Housing Opportunity.