Uniform Residential Loan Application

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Uniform Residential Loan Application
This application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants should complete this form as “Borrower” or “Co-Borrower,” as applicable.
Co-Borrower information must also be provided (and the appropriate box checked) when [X] the income or assets of a person other than the Borrower (including the Borrower’s spouse)
will be used as a basis for loan qualification or [ ] the income or assets of the Borrower’s spouse or other person who has community property rights pursuant to state law will not be
used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and
Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community
property state as a basis for repayment of the loan.
If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below):
1. TYPE OF MORTGAGE AND TERMS OF LOAN
V.A.FHAConventionalUSDA/Rural Housing ServiceOther
Fixed RateGPMOtherARM
2. PROPERTY INFORMATION AND PURPOSE OF LOAN
PurchaseRefinanceConstructionConstruction-PermanentOther
Primary ResidenceSecondary ResidenceInvestment
Fee SimpleLeasehold
Complete the following if construction or construction-permanent loan.
Complete the following if this is a refinance loan.
MadeTo Be Made
3a. BORROWER INFORMATION
MarriedSeparatedUnmarried
OwnRent
If residing at present address for less than two years, complete the following:
OwnRent
3b. CO-BORROWER INFORMATION
MarriedSeparatedUnmarried
OwnRent
If residing at present address for less than two years, complete the following:
OwnRent
4a. BORROWER EMPLOYMENT INFORMATION
Yes
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Yes
Yes
4b. CO-BORROWER EMPLOYMENT INFORMATION
Yes
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Yes
Yes
5. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly Income
Borrower
Co-Borrower
Total
Base Empl. Income*
Overtime
Bonuses
Commissions
Dividends/Interest
Net Rental Income
Other (see "describe other income" below)
Other (see "describe other income" below)
Total
* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.
Combined Monthly Housing Expense
Present
Proposed
Rent
N/A
First Mortgage (P&I)
Other Financing (P&I)
Hazard Insurance
Real Estate Taxes
Mortgage Insurance
Homeowner Assn. Dues
Other:
Total
Describe Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.
6. ASSETS AND LIABILITIES
This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise separate Statements and Schedules are required. If the Co-Borrower section was completed about a non-applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.
JointlyNot Jointly
ASSETS
(Description)
Cash or Market Value
Cash deposit toward purchase held by:
Subtotal Liquid Assets
Real estate owned (enter market value from schedule of real estate owned)
Vested interest in retirement fund
Net worth of business(es) owned (attach financial statement)
Total Assets [a]
Liabilities and Pledged Assets. List the creditor's name, address and account number for all outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities which will be satisfied upon sale of real estate owned or upon refinancing of subject property.
LIABILITIES
Monthly Pmt. & Mos. Left to Pay
Unpaid Balance
Alimony/Child Support/Separate Maintenance Payments
N/A
Job Related Expense (child care, union dues, etc.)
N/A
Total Monthly Payments
N/A
Total Liabilities [b]
Net Worth ( Total Assets [a] minus Total Liabilities [b] )
Schedule of Real Estate Owned (if additional properties are owned, use continuation sheet.)
Property Address (select Sold, Pending Sale or Rental if being held for income)
Sold, Pending Sale or Rental
Type of Property Listed
Enter The Present Market Value
Amount of Mortgages & Liens
Enter The Gross Rental Income
Enter The Mortgage Payments
Insurance, Maintenance, Taxes & Misc
Enter The
Net Rental Income
Totals
List any additional names which credit has previously been received and indicate appropriate creditor name(s) and account number(s):
7. DETAILS OF TRANSACTION
a. Purchase price
b. Alterations, improvements, repairs
c. Land (if acquired separately)
d. Refinance (incl. debts to be paid off)
e. Estimated prepaid items
f. Estimated closing costs
g. PMI, MIP, Funding Fee
h. Discount (if Borrower will pay)
i. Total cost (add a through h)
j. Subordinate financing
k. Borrower's closing cost paid by Seller
m. PMI, MIP, Funding Fee Financed
n. Loan amount (exclude n values)
o. Loan amount (add m & n)
p. Cash Borrower (subtract j, k, l, & o from i)
8. DECLARATION
If you answer "Yes" to any questions a through i, please use continuation sheet for explanation.
a. Are there any outstanding judgements against you?
YesNo
YesNo
b. Have you been declared bankrupt within the past 7 years?
YesNo
YesNo
c. Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?
YesNo
YesNo
d. Are you a party to a law suit?
YesNo
YesNo
e. Have you directly or indirectly been obligated on any loan which resulted in foreclosure, transfer of title in lieu of foreclosure, or judgement? (This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee? If "Yes" provide details, including date, name and address of Lender, FHA or VA case number, if any, and reasons for the action.)
YesNo
YesNo
f. Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation, bond, or loan guarantee? If "Yes," give details as described in the preceeding question.
YesNo
YesNo
g. Are you obligated to pay alimony, child support, or separate maintenance?
YesNo
YesNo
h. Is any part of the down payment borrowed?
YesNo
YesNo
i. Are you a co-maker or endorser on a note?
YesNo
YesNo
j. Are you a U.S. citizen?
YesNo
YesNo
k. Are you a permanent resident alien?
YesNo
YesNo
l. Do you intend to occupy the property as your primary residence?
If "Yes," complete question m below
YesNo
YesNo
m. Have you had an ownership interest in a property in the last three years?
YesNo
YesNo
(1)What type of property did you own--principal residence (PR), second home (SH), or investment property (IP)?
(2)How did you hold title to the home--solely by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?
9. ACKNOWLEDGEMENT AND AGREEMENT
Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.
Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency.
10. INFORMATION FOR GOVERNMENT MONITORING PURPOSES
The following information is requested by the Federal Government for certain types of loans related to a dwelling in order to monitor the lender's compliance with equal credit opportunity, fair housing and home mortgage disclosure laws. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender may not discriminate either on the basis of this information, or on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race, you may check more than one designation. If you do not furnish ethnicity, race, or sex, under Federal regulations, this lender is required to note the information on the basis of visual observation and surname if you have made this application in person. If you do not wish to furnish the information, please check the box below. (Lender must review the above material to assure that the disclosures satisfy all requirements to which the lender is subject under applicable state law for the particular type of loan applied for.)
BORROWER
CO-BORROWER
I do not wish to furnish this information
I do not wish to furnish this information
Hispanic or LatinoNot Hispanic or Latino
Hispanic or LatinoNot Hispanic or Latino
American Indian or Alaskan NativeNative Hawaiian or Other Pacific IslanderAsianWhiteBlack or African American
American Indian or Alaskan NativeNative Hawaiian or Other Pacific IslanderAsianWhiteBlack or African American
FemaleMale
FemaleMale
To be Completed by Loan Originator:
In a face-to-face interviewTelephone interviewBy the applicant & submitted by fax or mailBy the applicant & submitted via email or website
Continuation Sheet/Residential Loan Application
Use this continuation sheet if you need more space to complete the Residential Loan Application. Mark "B" for Borrower or "C" for Co-Borrower.
I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq.
Demographic Information Addendum
The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, Federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. You may select one or more designations for "Ethnicity" and one or more designations for "Race." The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, Federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of age or marital status information you provide in this application. If you do not wish to provide some or all of this information, please check below.
Hispanic or LatinoMexicanPuerto RicanCubanOther Hispanic or LatinoNot Hispanic or LatinI do not wish to provide this information
FemaleMaleI do not wish to provide this information
American Indian or Alaska NativeAsianAsian IndianChineseFilipinoJapaneseKoreanVietnameseOther AsianBlack or African AmericanNative Hawaiian or Other Pacific IslanderNative HawaiianGuamanian or ChamorroSamoanOther Pacific IslanderWhiteI do not wish to provide this information
To Be Completed by Financial Institution (for application taken in person):
NoYes
NoYes
NoYes
Face-to-Face Interview (includes Electronic Media w/ Video Component)Telephone InterviewTelephone InterviewEmail or Internet


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