BALTIMORE — People lie on mortgage applications every day.
Fudging a few key details on a routine form can make a loan seem less risky to a lender. Instead of saying they’re buying an investment property, they claim it’s a vacation home. Maybe they don’t disclose a debt. That could make a lender feel more confident about issuing a loan with a lower interest rate and cutting the amount of down payment required.
With a few keystrokes and a signature, homebuyers can save themselves tens of thousands of dollars over the life of a 30-year mortgage — if they don’t get caught.
