Do You Own The Home?

• When you submit a loan application, the underwriter has to ensure that you have the right to secure a lien against the home. If you own the house as part of a trust, the underwriter may ask for a copy of the trust document. If multiple parties have ownership stakes in your home, expect the underwriter to ask for contact details for those owners so that the lender can ensure the other owners do not object to the loan. You also have to give the loan officer or underwriter a description of the property since some lenders do not finance mobile homes, duplexes and other property types. The underwriter can reject the application because of titling issues or an ineligible property type.