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Mortgage Application (Form 1003)

Affordable Family Law, Inc. > Mortgage Application (Form 1003)

YOUR HOME LOAN

Borrower application

Tell us about yourself, your finances, and the home you have in mind. You can review your answers before signing.

Fields marked * are required when they apply. Demographic information is optional.

You

(mm/dd/yyyy)

Citizenship
Type of Credit
Marital Status

Unmarried includes Single, Divorced, Widowed, Civil Union, Domestic Partnership, Registered Reciprocal Beneficiary Relationship.

For example: 7, 9, 13.

Where you live

Is your mailing address different from your current address?
Current Address – Housing
Former Address – Housing

Work

Do you want income from your current employment or self-employment to be considered for this loan?

(mm/dd/yyyy)

Check if this statement applies:
Check if you are the Business Owner or Self-Employed
Ownership share of the business

($ / month)

($ / month)

($ / month)

($ / month)

($ / month)

($ / month)

($ / month)

Do you have additional employment or self-employment income you want considered for this loan?
Item 1

(mm/dd/yyyy)

Check if this statement applies:
Check if you are the Business Owner or Self-Employed
Ownership share of the business

($ / month) — complete if you are the Business Owner or Self-Employed in this job.

($ / month)

($ / month)

($ / month)

($ / month)

($ / month)

($ / month)

Item 1

Provide at least 2 years of current and previous employment and income.

(mm/dd/yyyy)

(mm/dd/yyyy)

Check if you were the Business Owner or Self-Employed

($ / month)

Other income

Do you have income from other sources you want considered for this loan?
Item 1

NOTE: Reveal alimony, child support, separate maintenance, or other income ONLY IF you want it considered in determining your qualification for this loan.

($ / month)

Accounts

Do you have checking, savings, retirement, or other accounts you want considered for this loan?
Item 1

Other assets

Do you have other assets or credits you want considered for this loan?
Item 1

Debts

Do you have credit cards, other debts, or leases to disclose on this application?
Item 1

List all liabilities below (except real estate) and include deferred payments.

To be paid off at or before closing

Other expenses

Do you have other liabilities or expenses, such as alimony or child support, to disclose?
Item 1

Real estate you own

Do you currently own any real estate?
Item 1

If you are refinancing, list the property you are refinancing FIRST.

For 2-4 Unit Primary or Investment Property.

Do you have mortgage loans on any of the properties you own?
Item 1

List the mortgage loans for each property you added above.

To be paid off at or before closing

FHA, VA, Conventional, USDA-RD, Other.

This loan and this property

Loan Purpose
Occupancy
FHA Secondary Residence
1. Mixed-Use Property. If you will occupy the property, will you set aside space within the property to operate your own business? (e.g., daycare facility, medical office, beauty/barber shop)
2. Manufactured Home. Is the property a manufactured home? (e.g., a factory built dwelling built on a permanent chassis)
Do you have other new mortgage loans on the property you are buying or refinancing?
Item 1
Lien Type

Complete if the property is a 2-4 Unit Primary Residence or an Investment Property. For Purchase Only.

Have you been given, or will you receive, any gifts or grants for this loan?
Item 1
Asset Type

Cash Gift, Gift of Equity, Grant.

Deposited/Not Deposited

Declarations

A. Will you occupy the property as your primary residence?
If YES, have you had an ownership interest in another property in the last three years?
(1) What type of property did you own:
(2) How did you hold title to the property:
B. If this is a Purchase Transaction: Do you have a family relationship or business affiliation with the seller of the property?
C. Are you borrowing any money for this real estate transaction (e.g., money for your closing costs or down payment) or obtaining any money from another party, such as the seller or realtor, that you have not disclosed on this loan application?
D. 1. Have you or will you be applying for a mortgage loan on another property (not the property securing this loan) on or before closing this transaction that is not disclosed on this loan application?
D. 2. Have you or will you be applying for any new credit (e.g., installment loan, credit card, etc.) on or before closing this loan that is not disclosed on this application?
E. Will this property be subject to a lien that could take priority over the first mortgage lien, such as a clean energy lien paid through your property taxes (e.g., the Property Assessed Clean Energy Program)?
F. Are you a co-signer or guarantor on any debt or loan that is not disclosed on this application?
G. Are there any outstanding judgments against you?
H. Are you currently delinquent or in default on a Federal debt?
I. Are you a party to a lawsuit in which you potentially have any personal financial liability?
J. Have you conveyed title to any property in lieu of foreclosure in the past 7 years?
K. Within the past 7 years, have you completed a pre-foreclosure sale or short sale, whereby the property was sold to a third party and the Lender agreed to accept less than the outstanding mortgage balance due?
L. Have you had property foreclosed upon in the last 7 years?
M. Have you declared bankruptcy within the past 7 years?
If YES, identify the type(s) of bankruptcy:

Military

Military Service – Did you (or your deceased spouse) ever serve, or are you currently serving, in the United States Armed Forces?
If YES, check all that apply:

(mm/dd/yyyy) — complete if currently serving on active duty.

Demographics (optional)

Why we ask

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.
Do you want to provide your ethnicity, sex, and race? This section is optional — you may skip it and still submit your application.
Ethnicity: Check one or more
Hispanic or Latino – Check one or more

For example: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, and so on.

Sex
Race: Check one or more
Asian – Check one or more

For example: Hmong, Laotian, Thai, Pakistani, Cambodian, and so on.

Native Hawaiian or Other Pacific Islander – Check one or more

For example: Fijian, Tongan, and so on.

Review and sign

Before you sign

Review your answers above. If anything is wrong, go back and correct it before you sign — you are confirming the information is true, accurate, and complete as of the date you sign.

Acknowledgments and Agreements

Definitions: • "Lender" includes the Lender’s agents, service providers, and any of their successors and assigns. • "Other Loan Participants" includes (i) any actual or potential owners of a loan resulting from this application (the “Loan”), (ii) acquirers of any beneficial or other interest in the Loan, (iii) any mortgage insurer, (iv) any guarantor, (v) any servicer of the Loan, and (vi) any of these parties' service providers, successors or assigns. I agree to, acknowledge, and represent the following: (1) The Complete Information for this Application • The information I have provided in this application is true, accurate, and complete as of the date I signed this application. • If the information I submitted changes or I have new information before closing of the Loan, I must change and supplement this application, including providing any updated/supplemented real estate sales contract. • For purchase transactions: The terms and conditions of any real estate sales contract signed by me in connection with this application are true, accurate, and complete to the best of my knowledge and belief. I have not entered into any other agreement, written or oral, in connection with this real estate transaction. • The Lender and Other Loan Participants may rely on the information contained in the application before and after closing of the Loan. • Any intentional or negligent misrepresentation of information may result in the imposition of: (a) civil liability on me, including monetary damages, if a person suffers any loss because the person relied on any misrepresentation that I have made on this application, and/or (b) criminal penalties on me including, but not limited to, fine or imprisonment or both under the provisions of Federal law (18 U.S.C. §§ 1001 et seq.). (2) The Property’s Security The Loan I have applied for in this application will be secured by a mortgage or deed of trust which provides the Lender a security interest in the property described in this application. (3) The Property’s Appraisal, Value, and Condition • Any appraisal or value of the property obtained by the Lender is for use by the Lender and Other Loan Participants. • The Lender and Other Loan Participants have not made any representation or warranty, express or implied, to me about the property, its condition, or its value. (4) Electronic Records and Signatures • The Lender and Other Loan Participants may keep any paper record and/or electronic record of this application, whether or not the Loan is approved. • If this application is created as (or converted into) an “electronic application”, I consent to the use of “electronic records” and “electronic signatures” as the terms are defined in and governed by applicable Federal and/or state electronic transactions laws. • I intend to sign and have signed this application either using my: (a) electronic signature; or (b) a written signature and agree that if a paper version of this application is converted into an electronic application, the application will be an electronic record, and the representation of my written signature on this application will be my binding electronic signature. • I agree that the application, if delivered or transmitted to the Lender or Other Loan Participants as an electronic record with my electronic signature, will be as effective and enforceable as a paper application signed by me in writing. (5) Delinquency • The Lender and Other Loan Participants may report information about my account to credit bureaus. Late payments, missed payments, or other defaults on my account may be reflected in my credit report and will likely affect my credit score. • If I have trouble making my payments I understand that I may contact a HUD-approved housing counseling organization for advice about actions I can take to meet my mortgage obligations. (6) Authorization for Use and Sharing of Information By signing below, in addition to the representations and agreements made above, I expressly authorize the Lender and Other Loan Participants to obtain, use, and share with each other (i) the loan application and related loan information and documentation, (ii) a consumer credit report on me, and (iii) my tax return information, as necessary to perform the actions listed below, for so long as they have an interest in my loan or its servicing: (a) process and underwrite my loan; (b) verify any data contained in my consumer credit report, my loan application and other information supporting my loan application; (c) inform credit and investment decisions by the Lender and Other Loan Participants; (d) perform audit, quality control, and legal compliance analysis and reviews; (e) perform analysis and modeling for risk assessments; (f) monitor the account for this loan for potential delinquencies and determine any assistance that may be available to me; and (g) other actions permissible under applicable law.
Acknowledgments and Agreements

Type your full legal name — this is your legal signature.

(mm/dd/yyyy)