What Is a Uniform Residential Loan Application?

What Is a Uniform Residential Loan Application? loading="lazy"

When you apply for a mortgage to buy a home, you may need to fill out a uniform residential loan application (URLA). Most lenders use this application to determine your eligibility for a mortgage.

Follow along as we open the door to details about this application you're likely to encounter when buying a home.

What Is a Uniform Residential Loan Application?

Nearly all mortgage lenders in the U.S. use the URLA when issuing a loan for a single-family home. When you're seeking a mortgage to purchase a home, a lender will likely ask you to fill out this application twice—once when you initially apply and again when you agree to the terms of the loan. You may be able to complete the application in a digital or paper format.

The application is known as Fannie Mae Form 1003 or Freddie Mac Form 65. Fannie Mae and Freddie Mac are government-sponsored companies that buy and sell home loans, freeing money for lenders to extend more loans to homebuyers.

When filling out this application, you'll be asked to supply an array of personal information, including your Social Security number, date of birth, marital status, address, monthly income, work history, assets and liabilities.

Lenders in the U.S. have used the URLA for more than 20 years.

New Changes to Uniform Residential Loan Applications in 2021

Fannie Mae and Freddie Mac updated the URLA earlier this year. The new application is reformatted to make it more consumer-friendly and to further digitize the mortgage process. Among the changes are a cleaner design, better organization and clearer instructions.

The new nine-page application asks for more information than the previous application did. The pieces of information that an applicant now must provide include:

  • Mobile phone number
  • Email address
  • History of military service
  • Current housing expenses

The redesign of the form doesn't change the application process for the borrower or lender. After May 1, 2021, Fannie Mae's and Freddie Mac's automated systems stopped accepting mortgage applications submitted on older forms.

Sections in Mortgage Application Forms 1003 and 65

If you're going to fill out Fannie Mae Form 1003 or Freddie Mac Form 65, here's the information you'll be asked to give.

Section 1a: Personal Information

  • Name
  • Alternate names
  • Social Security number
  • Date of birth
  • Citizenship status
  • Type of credit you're seeking (individual credit or joint credit)
  • Names of other borrowers for this loan
  • Marital status
  • Number and ages of dependents
  • Home phone number
  • Mobile phone number
  • Work phone number
  • Email address
  • Current address
  • Monthly housing expenses
  • Former address if you've been at current address for less than two years
  • Mailing address (if different from current address)

Sections 1b and 1c: Employment and Income Information

  • Employer or business name
  • Street address of employer or business
  • Phone number of employer or business
  • Position or title
  • Start date
  • Length of time in career field
  • Gross monthly income
  • Monthly income or loss if business owner or self-employed
  • Share of ownership in business (more or less than 25%)

Section 1d: Previous Employment or Self-Employment

  • Employer or business name
  • Employer or business address
  • Position or title
  • Start and end dates
  • Gross monthly income

Section 1e: Income from Other Sources

Selections in this section are:

  • Alimony
  • Automobile allowance
  • Income from taking in boarders
  • Capital gains
  • Child support
  • Disability
  • Foster care
  • Housing
  • Interest and dividends
  • Mortgage credit certificate
  • Notes receivable
  • Mortgage differential payments
  • Public assistance
  • Retirement (such as pension or IRA)
  • Royalty payments
  • Separate maintenance
  • Social Security
  • Trust
  • Unemployment benefits
  • VA compensation
  • Other

Monthly amounts must be provided for each income source.

Section 2a: Assets

Selections in this section are:

  • Checking account
  • Savings account
  • Money market account
  • Certificate of deposit (CD)
  • Mutual funds
  • Stocks
  • Stock options
  • Bonds
  • Retirement accounts, such as 401(k) or IRA
  • Proceeds from a bridge loan
  • Individual development account
  • Trust account
  • Cash value of life insurance

The application asks that you provide the financial institutions, account numbers and cash or market value associated with these assets.

Section 2b: Other Assets and Credits

Choices in the assets section are:

  • Proceeds from real estate to be sold ahead of the loan closing
  • Proceeds from sale of non-real-estate assets
  • Secured borrowed funds
  • Unsecured borrowed funds
  • Other

Choices in the credits section are:

  • Earnest money
  • Employer assistance
  • Lot equity
  • Relocation funds
  • Rent credit
  • Sweat equity
  • Trade equity

A cash or market value must be filled in for each asset or credit listed.

Section 2c: Liabilities (Except Real Estate)

The application seeks the following information about liabilities:

  • Revolving debt (such as credit cards)
  • Installment debt (such as auto, personal and student loans)
  • 30-day balance (paid monthly)
  • Lease (other than real estate)
  • Other

For each liability, the account type, company name, account number, unpaid balance and monthly payment must be listed.

Section 2d: Other Liabilities and Expenses

Selections in this section are:

  • Alimony
  • Child support
  • Separate maintenance
  • Job-related expenses
  • Other

For each of these, a monthly payment amount must be listed.

Section 3a. Property You Own

Details that must be provided in this section are:

  • Property address
  • Property value
  • Status of property (sold, pending sale, retained)
  • Intended occupancy (investment, primary residence, second home, other)
  • Monthly expenses (such as insurance, taxes and HOA dues) not included in mortgage payment
  • Rental income for two- to four-unit primary residence or investment property

If you have any mortgage loans on the property, you're asked to provide the following information:

  • Creditor name
  • Account number
  • Monthly mortgage payment
  • Unpaid balance
  • Type of loan (such as conventional, FHA or VA)
  • Credit limit

Sections 3b and 3c: Information for Additional Property You Own

The same details required in Section 3a must be provided in these sections.

Section 4a: Loan and Property Information

This information applies to the property for which you're seeking a mortgage:

  • Loan amount
  • Loan purpose (such as purchase or refinance)
  • Property address
  • Number of units
  • Property value
  • Occupancy (primary residence, secondary home, investment property, FHA second residence)
  • Declaration of whether property is mixed-use property or manufactured home

Section 4b: Other New Mortgages for Property Being Purchased or Refinanced

  • Creditor name
  • Lien type
  • Monthly payment
  • Amount of loan on withdrawal
  • Credit limit

Section 4c: Rental Income for Property Being Purchased

The applicant must fill out the expected monthly rental income if the property is a two- to four-unit primary residence or an investment property.

Section 4d: Grants or Gifts Being Given for Property Being Purchased

The applicant must provide this information:

  • Source of grant or gift (such as a nonprofit organization, employer or relative)
  • Asset type (cash, equity or grant)
  • Status of grant or gift (deposited or not deposited)
  • Cash or market value of each grant or gift

Section 5a: Questions About Property and Loan

  • Will you occupy the property as your primary residence?
  • Have you had an ownership interest in another property in the past three years?
  • If you're buying the property, do you have a family relationship or business affiliation with the seller?
  • Are you borrowing money for this transaction (such as cash for down payment or closing costs) or otherwise obtaining money that hasn't already been disclosed? If so, how much?
  • Have you applied or will you be applying for a mortgage loan on another property before closing this transaction that hasn't already been disclosed?
  • Have you applied or will you be applying for any new credit (such as a credit card) before closing this loan that hasn't already been disclosed?
  • Will this property be subject to a lien that could take priority over the first mortgage lien?

Section 5b: Questions About Personal Finances

  • Are you a cosigner or guarantor on any debt or loan that wasn't disclosed on this application?
  • Are there any outstanding judgments against you?
  • Are you currently delinquent or in default on a federal debt?
  • Are you a party to a lawsuit in which you potentially have any personal financial liability?
  • Have you conveyed title to any property in lieu of foreclosure in the past seven years?
  • Within the past seven years, have you completed a preforeclosure sale or short sale in which the property was sold to a third party and the lender agreed to accept less than the outstanding mortgage balance due?
  • Have you had property foreclosed upon in the last seven years?
  • Have you declared bankruptcy within the past seven years? If so, what type of bankruptcy?

Section 6: Acknowledgments and Agreements

In this section, the borrower attests to various statements, such as the information contained in the application is accurate.

Section 7: Military Service

This section asks for information about your military service or the military service of a deceased spouse.

Section 8: Demographic Information

This section asks the applicant to voluntarily submit information about their race, ethnicity and gender to help ensure that fair housing standards are upheld.

The Bottom Line

Before you fill out a uniform residential loan application, you should obtain your free Experian credit report and credit score so you're better prepared to qualify for a mortgage loan.