do i have to disclose a home i own free and clear on loan application?

You will need to disclose it. It will appear on your Sch E on your tax returns.

When you sign your initial 1003 you must disclose it on the application.

You must disclose all properties you own. Part of the qualifying process is determine your debt to income ratios.. having no mortgage does not mean you do not have costs associated with that property. Taxes, insurance, association fee, etc.. can all add up, so we need to take your annual fees, divide them by 12 months and ad that number as a reoccurring expense. Every conforming lending program requires that we run your name through a nationwide database to determine if you own any other property in the USA.. if you don't disclose it and they find the other property, your loan can be denied.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Yes, you must disclose this property on your loan application.