The following documents are essential for buying a home with a loan in the United States.

1. Good Faith Estimate

Under the Real Estate Procedures Act, as of January 1, 2010, home loan brokers must give you a Good Faith Estimate within 3 days of receiving your loan application.

All fees are listed on the appraisal form, including fees charged by banks and lending companies, home appraisal fees, loan approval fees from banks, and fees charged by title transfer companies.

Comparing the credit appraisal form with the following closing schedule will make it easier for you to determine if the loan you receive at closing is the same as the one provided in the Good Faith Estimate.

2. Settlement Statement HUD-1

At closing, the lender must provide the lender with a new HUD Closing Schedule No. 1, which will list all fees.

The U.S. Department of Housing and Urban Development regulates the settlement forms involved in the purchase and sale of a home, and this form is required for all transactions related to the purchase and sale of a residential home in the United States as part of the evidence of the home sale.

The Closing Schedule is a master list of all your expenses. In addition to your down payment, deposit, and other loan-related fees, there are also fees charged by the home appraisal, the bank's loan approval fee, title insurance, and the title closing company.

The HUD-1 is not usually sent over, it is shown to the buyer and seller in first draft prior to closing. It is recommended that you read the HUD-1 document and review all fees the day before closing.

If you have any questions, ask your realtor or loan broker immediately to avoid being caught off guard on closing day. All parties confirm that there are no questions before signing the final version.

3. HUD Guidebook

When you get your Good Faith Estimate, you will also receive a new copy of the Shopping for Your Home Loan: HUD Closing Costs Handbook, which is a guide to home purchase loans that banks are required to provide under the Real Estate Closing Procedures Act. It can help you understand both of these documents.

This handbook is available online, especially if you are confused about buying or selling a home. Familiarizing yourself with this handbook will help you with many of your questions about getting a loan to buy a home.