What responsibilities do I have during the lending process?

To ensure you won't fall victim to loan fraud, be sure to follow all of these steps as you apply for a loan:

  • Be sure to read and understand everything before you sign
  • Refuse to sign any blank documents
  • Do not buy property for someone else
  • Do not overstate your income
  • Do not overstate how long you have been employed
  • Do not overstate your assets
  • Accurately report your debts
  • Do not change your income tax returns for any reason
  • Tell the whole truth about gifts
  • Do not list fake co-borrowers on your loan application
  • Be truthful about your credit problems, past and present
  • Be honest about your intention to occupy the house
  • Do not provide false supporting documents