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					                                 NOTICE
This information packet & related documents must be completed & returned to
the office within five (5) days of issue. The information supplied will be used to
approve or deny membership. Membership approval is required for you to close
escrow.

                        Date of Issue: Tuesday, May 08, 2012




                          Application Package
Please review and complete the attached application
package, if you have any questions contact 818-889-1221
for assistance.



  Government Code §12956.1. Discriminatory Restrictions Disclosure

If this document contains any restriction based on race, color, religion, sex, sexual
orientation, familial status, marital status, disability, national origin, source of
income as defined in subdivision (p) of Section 12955, or ancestry, that restriction
violates state and federal fair housing laws and is void, and may be removed
pursuant to Section 12956.2 of the Government Code. Lawful restrictions under
state and federal law on the age of occupants in senior housing or housing for
older persons shall not be construed as restrictions based on familial status.




30473 Mulholland Hwy.                    1 of 22                     818-889-1221 (phone)
Cornell CA 91301                                                     818-889-1227 (fax)
                                 Package revised May 2011
                        Acknowledgment by Applicant
The undersigned applicant understands that:

       1.      They are purchasing a share of stock in a cooperative (corporation), not a
               parcel of real estate.
       2.      As a shareholder, the applicants will be required to pay a monthly assessment
               fee which may increase in the future.
       3.      As a shareholder, the applicants will be required to pay monthly utility service
               fees which may increase in the future.
       4.      A non-refundable fee of two hundred dollars ($200.00) will be charged for each
               person named on the Shareholder Certificate. This fee is to cover a Credit and
               Criminal Background Check.
       5.      All persons living within the Park must be registered. An additional non-
               refundable fee of one -hundred dollars ($100.00) will be charged for each (non-
               shareholder) person over the age of eighteen (18). This fee is to cover a
               Criminal Background Check only.

       6.      The applicant is prohibited from using any of the park facilities or moving into
               the Park prior to written Board consent. (See Occupancy Agreement for further
               details.)

       7.      The applicant(s) must live on the premises for a minimum of one year before
               any sub-leasing will be considered by the Board of Directors.
       8.      The applicant(s) should seek advice from legal counsel before entering into a
               transaction of this type and have had an opportunity to do so.

       9.      The Park will be making no improvement to the subject site. Architectural
               permits are required for any exterior work.

       10.     Pets - All pets must be registered with the Park. The types of pets permitted
               are small dogs, and or cats, small birds, such as parakeets and canary, fish and
               other usual household pets. Pit bulls are not allowed in the Park. No more than
               two (2) cats or dogs will be allowed per Mobilehome. Pets must be licensed
               and inoculated in accordance with local law. Pets. are not allowed in the
               clubhouse, pool/spa area, playground, and laundry area at any time. Pets must
               be on a leash while being walked within the Park. Anyone walking a pet must
               carry "scoopers" or other paraphernalia to pick up their pets' droppings. Any
               pet running loose in the Park will be impounded at the pet owner's expense.

Agreed:

Date: ________________________________

Applicant Signature: ____________________________________ Space #: _______
Print Name: ____________________________________________
Applicant Signature: ____________________________________
Print name: ____________________________________________

30473 Mulholland Hwy.                         2 of 22                         818-889-1221 (phone)
Cornell CA 91301                                                              818-889-1227 (fax)
                                      Package revised April 2012
                    Application Requirement for Corporate Membership

Application Requirements: Before consideration of membership the applicant(s) must make
an appointment to come back to the Park office to sign all the required documentation. If these
documents are not complete when returned to the office, evaluation of membership may not
proceed. Note: Any co-signer(s) must be included on the membership share and therefore
must submit individual application(s) for membership.

   •   A Credit and Background Check authorization to be completed for each
       individual shareholder in the Membership Application. The fee for each
       shareholder(s) credit and criminal background check is $200.00.

   •   A Resident Registration form, for each resident.

   •   An additional Criminal Background Check authorization to be completed for all
       non-shareholder residents over the age of eighteen (18) living in the space. The
       fee for each non-shareholder resident(s) criminal background check is $100.00.

   •   Check to cover applicable Resident(s) and Shareholder(s) application fees.
       These fees are not refundable.

   •   All checks should be made payable to the Seminole Springs Mobilehome Park.

The membership approval will then be processed, and the appropriate credit and background
information will be obtained. This process can take up to three weeks.

Credit Criteria Used. The Park approval guidelines are typical for Fannie Mae (FNMA)
approval:

       Credit Evaluation:
       The applicant(s) must have credit acceptable under Fannie Mae (FNMA) criteria and may
       have no prior evictions.

       Credit Worthiness criteria

       •   at least a 640 FICO score or above

       and

       •   a back-end monthly debt-to-income ratio of 45% as proved by a current TRW credit or
           equivalent credit report.
       Income Documentation:
       Require at a minimum, two (2) years of tax returns or a letter from a certified public
       accountant (CPA) that attests to the individual’s tax status. Upon request copies of additional
       documents listed (i.e. W2 income stubs, provable income, bank and investment statements,
       if you own other property, mortgage, property tax and insurance statements or a letter from
       their CPA that certifies they meet the specified criteria.




30473 Mulholland Hwy.                           3 of 22                           818-889-1221 (phone)
Cornell CA 91301                                                                  818-889-1227 (fax)
                                       Package revised April 2012
       Down payment and/or Cash to Purchase:
       The funds for the cash payment have to be verified in the bank account, (either as a down
       payment or for a cash purchase). This verification ties in with the debt to income ratio, which
       would have to be adjusted if there is any financing of the purchase.

Requirements Upon Approval

   •   Additional Fees
       If the applicants are approved by the Management Company and the Park Manager, the
       escrow will than be eligible to proceed. There is a $200.00 transfer fee payable to Integrity
       Management Group and a $100.00 + utility hold for the current gas usage charges (upper
       park only) for the current homeowner. Both of these fees will be paid from escrow and will
       be part of the demand package to your escrow company. If any Key(s) or Badge are not
       returned from the seller a twenty five dollar ($25.00) fee will be charged to the seller in escrow for
       each of these items. If the Membership Book is not returned from the seller a fifty dollar ($50.00)
       fee will be charged to the seller in escrow for this item.

   •   Additional Documents
       Before closing escrow the purchaser(s) must make an appointment to come back to the
       Park office to sign all the required documentation. These documents include, but are not
       limited to, the Rules and Regulations, Occupancy Agreement, emergency contact
       information, etc. If these documents are not signed escrow may not proceed.
       The seller must return the Share Certificate, Key(s), Badge and Membership book to the office.

Requirements Before Approval
   • The applicant(s) are prohibited from using any of the park facilities or moving into the Park
      prior to written Board consent.

Requirements Upon Close of Escrow
   •   After the close of escrow and the signing of necessary documents, a common area key will be
       given to the purchaser and usage of the facilities will then be allowed.

   •   The sellers Share Certificate will be voided and the new Certificate will be issued to the buyer. If
       a sellers Certificate has been misplaced a form must be filled out, notarized and returned to the
       office.

   •   Purchaser(s) must be supplied, by the seller(s), full disclosure of any issues affecting the space
       being purchased including any outstanding violations or fines that may be in place regarding the
       specific space being purchased. The Park and the Onsite office will not be held responsible for
       any omission of this type. In the event of any specific requirement the disclosure will be solely
       that of the seller.

   •   Insurance : All purchaser(s) must insure the property against loss or damage by fire or by any
       other casualty, under the standard form of extended endorsement now in use in the State of
       California or under such other insurance as may be required by any mortgagee of the
       membership. All insurance shall be in an amount as near as practicable to the full replacement
       value of the mobilehome and improvements, without deduction for depreciation or co-insurance.
       Proof of insurance is required yearly at the Seminole Springs Office. Please reference Article 9
       Section 7 Insurance Obligation of Members in the By-Laws and Section XXIV Statement of
       Responsibility in the Rules and Regulations for further information.

 If you have any question regarding these policies please contact the on site Office for additional
information. Phone 818-889-1221 between the hours of 10:00 am. and 4:00 pm. Mon. through Fri.
                                Thank You for your cooperation.


30473 Mulholland Hwy.                             4 of 22                               818-889-1221 (phone)
Cornell CA 91301                                                                        818-889-1227 (fax)
                                         Package revised April 2012
                                 Application for Membership
   Your membership to Seminole Springs Mobilehome Park Inc. will be determined by a review
   of the facts listed on this application. In order for us to thoroughly evaluate each applicant,
   please be sure to fill out this application accurately and completely. An incomplete application
   will be gro unds for denial. This application is designed to be completed by the applicant(s} with
   the Manager’s assis tance. Applicants should complete this form as "Applicant" or "Co-
   Applicant", as applicable. Co-Applicant information must also be provided (and the
   appropriate box checked) when the income or assets of a person other than the "Applicant"
   (including the Applicant's spouse) will be used as a basis for membership qualification or the
   income or assets of the Applicant's spouse or other pe rson who has community property rights
                             ill
   pursuant to state law w not be used as a basis for membership qualification, but his or her
   liabilities must be considered because the spouse or other person has community property
             urs
   rights p uant to applicable law and Applicant resides in a community property state, the
   security property is located in a community prope rty state, or the Applicant is relying on othe r
   prope rty located in a community prope rty state as a basis corporate membership. If this is an
   application for jo int membership, Applicant and Co-Applicant each agree that we intend to
   apply for joint membership (sign below):

   ______________________________________                ______________________________________
   Applicant                                             Co-Applicant

   Date of application _________________         Space # ________ being considered by applicant(s)

   Note: Any co-signer(s) must be included on the membership share and therefore must
   submit individual application(s) for membership.




                                      APPLICANT INFORMATION
Applicant's Name (include Jr. or Sr. if applicable) Co-Applicant's Name (include Jr. or Sr. if applicable)

Social Security   Home Phone         DOB mm/dd/yyyy      Social Security   Home Phone         DOB mm/dd/yyyy
___-__-____       (___)_______       ___/___/_____       ___-__-___        (___)_______       ___/___/_____

 Married (includes             Dependants (not listed     Married (includes         Dependants (not listed by
registered domestic            by Co-Applicant           registered domestic        Applicant
partners)                                                partners)
 Unmarried (includes           Number                     Unmarried (includes       Number
single, divorced,                                        single, divorced,
widowed)                                                 widowed)
 Separated                     Ages                       Separated                 Ages
Present Address (street, city. state, ZIP/ country)      Present Address (street, city. state, ZIP/ country)
  Own Rent Number Years ____                               Own Rent Number Years. ____



Mailing Address, if different from Present Address       Mailing Address, if different from Present Address



   30473 Mulholland Hwy.                           5 of 22                             818-889-1221 (phone)
   Cornell CA 91301                                                                    818-889-1227 (fax)
                                           Package revised April 2012
If residing at present address for less than two years , complete the following
Former Address (street, city. state, ZIP/ country)  Former Address (street, city. state, ZIP/ country)
  Own Rent Number Years ____                          Own Rent Number Years ____


Former Address (street, city. state, ZIP/ country)         Former Address (street, city. state, ZIP/ country)
Own Rent No. Years ____                                    Own Rent No. Years ____



Dependants/Occupants (not listed by Co-Applicant)          Dependants/Occupants (not listed by Applicant)

Name _________________ DOB: _____________                  Name _________________ DOB: _____________
Relationship: ______________________--                     Relationship: ______________________--
Will they live with you in the Park? Yes No                Will they live with you in the Park? Yes No
Dependants/Occupants (not listed by Co-Applicant)          Dependants/Occupants (not listed by Applicant)

Name _________________ DOB: _____________                  Name _________________ DOB: _____________
Relationship: ______________________--                     Relationship: ______________________--
Will they live with you in the Park? Yes No                Will they live with you in the Park? Yes No
Dependants/Occupants (not listed by Co-Applicant)          Dependants/Occupants (not listed by Applicant)

Name _________________ DOB: _____________                  Name _________________ DOB: _____________
Relationship: ______________________--                     Relationship: ______________________--
Will they live with you in the Park? Yes No                Will they live with you in the Park? Yes No
California Drivers license #                               California Drivers license # ___________

Expiration. Date                      ___________          Expiration. Date                      ___________



Applicant _____________________________                    Co-Applicant _____________________________




  30473 Mulholland Hwy.                              6 of 22                              818-889-1221 (phone)
  Cornell CA 91301                                                                        818-889-1227 (fax)
                                           Package revised April 2012
         .Applicant                       EMPLOYMENT INFORMATION                                    Co-Applicant
Name & Address of                 Years on this job ____ Name & Address of                      Years on this job _____
Employer                          Years employed in this Employer                               Years employed in this
   Self Employed                  line of work/profession   Self Employed                       line of work/profession

Position/Title/Type of            Business Phone                 Position/Title/Type of         Business Phone (include
Business                          (include area code)            Business                       area code)

If employed In current Position for less than two years or If currently employed In more than one Position complete the
following:
Name & Address of                 Dates (from – to)              Name & Address of              Dates (from – to)
Employer                                                         Employer
   Self Employed                  Monthly Income                    Self Employed               Monthly Income
                                  $                                                             $
Position/Title/Type of            Business Phone                 Position/Title/Type of         Business Phone (include
Business                          (include area code)            Business                       area code)

Name & Address of                 Dates (from – to)              Name & Address of              Dates (from – to)
Employer                                                         Employer
   Self Employed                  Monthly Income                    Self Employed               Monthly Income
                                  $                                                             $
Position/Title/Type of            Business Phone                 Position/Title/Type of         Business Phone (include
Business                          (include area code)            Business                       area code)

Name & Address of                 Dates (from – to)              Name & Address of              Dates (from – to)
Employer                                                         Employer
   Self Employed                  Monthly Income                    Self Employed               Monthly Income
                                  $                                                             $
Position/Title/Type of            Business Phone                 Position/Title/Type of         Business Phone (include
Business                          (include area code)            Business                       area code)

Name & Address of                 Dates (from – to)              Name & Address of              Dates (from – to)
Employer                                                         Employer
   Self Employed                  Monthly Income                    Self Employed               Monthly Income
                                  $                                                             $
Position/Title/Type of            Business Phone                 Position/Title/Type of         Business Phone (include
Business                          (include area code)            Business                       area code)




   30473 Mulholland Hwy.                                   7 of 22                                   818-889-1221 (phone)
   Cornell CA 91301                                                                                  818-889-1227 (fax)
                                                  Package revised April 2012
      MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross          Applicant Co-       Total Combined Present Proposed
Monthly Income           Applicant       Monthly
                                         Housing
                                         Expense
Base Income                              Rent
Overtime                                                      First
                                                              Mortgage
                                                              (P&I)
Bonuses                                                       Other
                                                              Financing
                                                              (P&I)
Commissions                                                   Hazard
                                                              Insurance
Dividend/Interest                                             Real Estate
                                                              Taxes
Net Rental                                                    Mortgage
Income                                                        Insurance
Base Income                                                   Homeowner
                                                              Assoc. dues
Total                                                         Other
Total                                                         Total
Base Income                                                   Base Income
Self Employed Applicant(s) may be required to provide additional documentation such as tax returns
and financial statements.
Notice: Alimony, child support or separate maintenance income need not be revealed if the
Applicant (A) or Co-Applicant (C) does not choose to have it considered.

                                          Other Income
A/C                                                                           Monthly Amount
                                                                              $



Applicant _____________________________             Co-Applicant
                                                    _____________________________




30473 Mulholland Hwy.                         8 of 22                           818-889-1221 (phone)
Cornell CA 91301                                                                818-889-1227 (fax)
                                      Package revised April 2012
                                                       ASSETS AND I.IABILITIES
This statement and any applicabl e supporti ng sched ul es may be compl eted jointly by both ma rri ed and unmarried applicants if their as s ets and
liabilities are sufficiently joined that do that the Statement can be meaningfully and fairly presented on a combined basis; otherwise separate
Stateme nts and S chedules are required. If the Co-Applicant section was completed about a non-applicant spouse or other person, this
S tatement and supporting S chedules must be completed by that spouse or other person also.
                                                                                                               Completed Jointly Not jointly

                            Assets                              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
Description                          Cash or Market Value       necessary.

Cash deposit held by                 $                          Indicate by (*) those liabilities which will be satisfied upon sale of real estate owned
                                                                or upon refinancing of the subject property .
List check ing and savings accounts below
Name and address of Bank. S&L. or Credit Union


Acct. No.                            $                                     Liabilities                   Monthly Payment &         Unpaid balance
                                                                                                         Months left to pay
Name and address of Bank. S&L. or Credit Union                  Name & address of company                $                         $

Acct. No                        $                               Acct. No.
Name and address of Bank. S&L. or Credit Union                  Name & address of company


Acct. No                             $                          Acct. No.
Stocks & Bonds (Company              $                          Name & address of company
name /number description)

                                                                Acct. No.
Life Insurance net cash value        $                          Name & address of company
Face amount $

Subtotal Liquid Assets $                                        Acct. No.
Real estate owned (enter market      $                          Name & address of company
value from schedule of real
estate owned)
                                                                Acct. No.
Vested interest in retirement        $                          Name & address of company
fund

                                                                Acct. No.
Net worth of business(es)            $                          Name & address of company
owned (attach financial
statement)
                                                                Acct. No.
Automobiles owned (make &            $                          Alimony/Child support/ Separate          $
model)                                                          Maintenance Payments owed to


Other Assets (itemize)               $                          Job related Expense (child care,         $
                                                                union dues, etc.)

                   Total Assets $                               Total Monthly payments                   $
                   Total Assets $                                                                             Total Liabilities    $
                             Net worth Assets - Liabilities     $



30473 Mulholland Hwy.                                          9 of 22                                         818-889-1221 (phone)
Cornell CA 91301                                                                                               818-889-1227 (fax)
                                                            Package revised April 2012
                                                      Schedule of real estate owned
                                       (If additional properties are owned. use continuation sheet)
Property Address (enter S if sold,        Type of     Present         Amount of      Gross         Mortgage        Insurance          Net Retail
PS if pending sale or R rental being      Property    Market          mortgages &    Rental        Payments        Maintenance        Income
held for income                                       Value           Liens          Income                        Taxes & Misc.
                                                      $               $              $             $               $                  $



                                             Totals $                 $              $             $               $                  $

IMPORTANT: For all properties listed in the above schedule, attach mortgage, property tax and insurance statements.

List any additional names under which credit has previously been received and indicate appropriate creditor(s) and account numbers.


            Alternate Name                                      Creditor Name                                  Account Number



Applicant _____________________________                                    Co-Applicant _____________________________




30473 Mulholland Hwy.                                           10 of 22                                    818-889-1221 (phone)
Cornell CA 91301                                                                                            818-889-1227 (fax)
                                                          Package revised April 2012
                                                       DECLARATIONS
If you answer "Yes" to any questions a through f please use continuation sheet                     Applicant          Co Applicant
for explanation,                                                                                   Yes         No     Yes        No
a. Are there any outstanding judgments against you?
b. Have you been declared bankrupt within the past 7 years?
c. Have you had property foreclosed upon or given title or deed in lieu thereof in
the last 7 years?
d. Are you a party to a lawsuit?
e. Have you directly or indirectly been obligated on any loan which resulted in
foreclosure, transfer of title in lieu of foreclosure or judgment?
(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.)
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 described in the preceding question.
g. Are you obligated to pay alimony, child support, or separate maintenance?
h. Is any part of the down payment borrowed?
i. Are you a co-maker or endorser on a note?
j. Are you a U.S. citizen?
k. Are you a permanent resident alien?
l. Do you intend to occupy the property as your primary residence?
If “Yes” complete question m below.
m. Have you had an ownership interest in a property in the last three years
     (1) What type of property did you own-principle 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)?

                                                     Acknowledgement and Agreement
Each of the undersigned specifically represents to corporation and to corporation’s actual or potential agents, attorneys, successors and
assigns and agr ees 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, includin g m                                                                o
                                         onetary damages, to any person who may suffer any l ss 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 membership requested pursuant to this
application 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
membership in the Seminole Springs Mobilehome Park Inc: (5) tile properly will be occupied as indicated in this application; (6) The
corporation, its successors or assigns may retain the original and/or an electronic record of this application, whether or not the loan is
approved; (7) the corporation and its agents, successors and assigns may continuously rely on the information contained i the         n
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 granting membership; {8) In the event that my payments of association
assessments become delinquent, the corporation its 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 credit reporting agencies; (9)
ownership of the membership and/or administration of the membership may be transferred with such notice as may be required by law;
(10) neither corporation nor its agents, 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 t ransmission of this application as an "electronic record"
containing my '.'electronic signature," as those terms are defined in applicable Federal and/or state laws (excludin g audio and video
recordings), or my facsimile transmission of this application containing a facs imile of my signature, shall be as effective, enforceable
and valid as if a paper version or this application were delivered containing my original written signature.

Acknowledgement Each of the undersigned hereby acknowledges that the corporation, its successors and assigns, may verify or
reverify any information contained in this application or obtain any information or data relating to the membership, for any legitimate
purpose t hrough any source, including a source named in this application or a consumer reporting agency,

Applicant's Signature                                   Date                Co-Applicant's S ignature                      Date
X                                                                           X




30473 Mulholland Hwy.                                                11 of 22                                   818-889-1221 (phone)
Cornell CA 91301                                                                                                818-889-1227 (fax)
                                                          Package revised May 2011
                            MOBILEHOME INFORMATION (please print)

The following questions pertain to the mobilehome which will occupy the space for which you are
applying: Legal Owner (mortgage company, financial institution or bank):
Name                                                                     Branch
Address                                                City                        St./Zip
Loan officer or contact                       Loan #                     Phone #
Mobilehome purchase price                     All Cash          Financed                     DOH #

Source & Amt. Down Payment

Serial #                              License #                           Decal #
                                    REFERENCES (please print)

List two (2) personal and two (2) business references:
PERSONAL

Name                                          Phone day (___)                      eve.(___)
Address                                       City                                 State

Name                                          Phone day (___)                      eve.(___)
Address                                       City                                 State
BUSINESS

Name                                          Phone day (___)                      eve.(___)
Address                                       City                                 State
Name                                          Phone day (___)                      eve.(___)

Address                                       City                                 State
                  MISCELLANEOUS INFORMATION (please initial after each question)

1) Have you ever lived in a mobilehome park before?        ___ Yes ___ No      ___ Initial
 If yes, name of Park ________________________ City _______________ State _____
2) Have you ever been delinquent in payment of your rent for any financial obligation?
                                                                  ___ Yes ___ No                    ___ Initial
 If yes, explain
3) Have you ever been a defendant in an unlawful detainer (eviction) lawsuit or defaulted (failed to
perform) any obligation of a rental agreement or lease?           ___ Yes ___ No         ___ Initial
4) Have you ever been evicted?                                   ___ Yes ___ No                     ___ Initial
5) Have you ever been asked to terminate your tenancy for any reason?
                                                                 ___ Yes ___ No                     ___ Initial
 If yes to Questions 3,4 or 5, please explain


Applicant's Signature                  Date            Co-Applicant's S ignature                     Date
X                                                      X
30473 Mulholland Hwy.                           12 of 22                                     818-889-1221 (phone)
Cornell CA 91301                                                                             818-889-1227 (fax)
                                       Package revised May 2011
                                 US Real Estate Authorization Request Form
                                                                    To Be Completed By US Real Estate
Applicant(s) Information and                                        Client (Requestor) ONLY:
Signature Release
                                                                    Member ID #________________________
PRINT CLEARLY All fields are REQUIRED
(Note: Tenant requests are per applicant and not filed
jointly per bureau compliance)                                      Requested by _______________________

Applicant Full Name:_____________________                           Phone # _________________________
SSN#:_____-___-_____ DOB: ___/___/______
Address:________________________ APT # ___                          Reply Fax # _________________________
City: ________________ State:_____ Zip: ______
Former Address (if NOT at present address for 2                     Please “X” Requested Service(s):
years):                                                             Statewide Package…………………………-
                                                                    Nationwide Package……………….………-
Address: ______________________ APT # ____                          Screening Packages include: TransUnion credit report
City: ________________ State: ____Zip:_______                       w/score, eviction check, criminal background, Sexual
                                                                    offender database search, SSN# verification
Drivers License # (if requesting Driver’s License
History Report):___________________________                         Credit Reports w/score
                                                                    TransUnion Credit Report………………..-
I authorize the named below to obtain a credit                      Experian Credit Report……………………-
report, criminal report, and or eviction check, on                  Equifax Credit Report……………………..-
me, through US Real Estate Investors                                *Tenant Score Card………………………..-
Association LLC for tenant screening purposes.                      *Pass /Fail Based on credit report findings and risk
                                                                    threshold established in Tenant Score Card set-up
Applicant Signature:                                                Pre-Employment Credit Report………….-
__________________________ Date:____/_____/20__                     Canadian Report……………………………-
                                                                    Business Credit Report…………………...-
Co-Applicant Full Name:___________________                          (EIN#) ______________________
SSN#:______- __- ______ DOB: ___/___/______
Address: _____________________ APT # _____                          Criminal Background
City: ________________ State: ___Zip:________                       Statewide Criminal Check………………...-
Former Address (if NOT at present address for 2                     Nationwide Criminal Check…………….…-
years):                                                             County Criminal check………………….…-
                                                                    (Specify County) ____________________
Address: _____________________ APT # _____                          Global Criminal Check………………….…-
City: _________________ State: __Zip: _______
                                                                    Eviction Reports
Drivers License # (if requesting Driver’s License                   Statewide Eviction…………………………-
History Report):____________________________                        Nationwide Eviction……………………….-
I authorize the named below to obtain a credit                      Other Checks
report, criminal report, and or eviction check, on                  SSN# Verification…………………………-
me, through US Real Estate Investors                                Prev. Landlord Verification…………..…-
Association LLC for tenant screening purposes.                      Employment Verification……………..…-
Applicant Signature:
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__________________________ Date: ____/____/20__

FAX COMPLETED REQUEST AUTHORIZATION FORM TO 855 244 2401
US Real Estate Investors Association, LLC ph 855-244-2400 fax 855-244-2401 www.TenantReports.com




30473 Mulholland Hwy.                                    13 of 22                                         818-889-1221 (phone)
Cornell CA 91301                                                                                          818-889-1227 (fax)
                                                Package revised May 2011
                                                     Community West Bank

                      Agreement for Use in Resident-Owned Mobile Home Park
                    Concerning Borrower's Manufactured Home/Mobile Home and
                        Membership/Share in Resident-Owned Corporation

Borrower(s):

Resident-Owned Corporation: Seminole Springs M obilehome Park, Inc. ("Corporation"):

Address of Mobile Home Park Owned by Corporation ("Resident-Owned Mobile Home Park"):


          30473 Mulhol land Highway, Cornell               CA        91301

Description of the Manufactured Home:
                                              Year Manufactured Model           Dimensions

 Serial Number(s) of M anufactured Home:

 Space in which M anufactured Home is located in Resident-Owned Mobile Home Park: Space:

Community West Bank ("Lender") is financing Borrower's purchase/refinance of a Manufactured Home/Mobile Home located on a
space in the above-described "Resident-Owned Mobile Home Park" and a membership/share(s) in the above-described Corporation.

B y signing this Agreement, the Corporation acknowledges that Lender intends to enter into a Security Agreement ("Security
Agreement") with the above named Borrower(s) under the terms of which Bank shall have a security interest in (a) the M anufactured
Home/Mobile Home ("Home"), including an interest in replacements, additions, accessories and accessions thereto, (b) the
membership/share(s) in the Resident- Owned Corporation, and (c) any other property in which Bank may acquire an interest by virtue
of said Security Agreement.

In consideration of and as a condition to the Lender being willing to make loans to members/shareholders of the Resident-Owned
Corporation, the Corporation agrees as follows:

I.       Acceptance of Borrower as Member(s)-Shareholder(s) of the Space and as Member(s) -Shareholder(s) of the Corporation
The Resident-Owned Corporation certifies that the above named Borrower(s) have been accepted as the Member(s)-Shareholder(s) of
the above-designated space in the Resident-Owned M obile Home Park and as member(s)-shareholder(s) of the Corporation. The
Borrower(s) do not own t he M obile Home space on which the Home is located.

2.         Compliance with Mobile Home Residency Law Provisions Relating to Lenders. The Resident-Owned Corporation agrees
(a) to follow the notice and other provisions of the California Mobile Home Residency Law, California Civil Code Sections 798 et
seq., as they relate to financial institutions who become legal owners or junior lien holders of the manufactured home/M obile Home in
the event of a default by the above-named borrower(s)/M ember(s)/Shareholder(s)(s), including but not limited to the provisions of
Civil Code Sections 798.55, 798.56, 798.56a, and 798.79, and (b) Lender may exercise the rights or a legal owner and/or junior
lienholder as stated in such provisions of the Civil Code.

3.         Bank Mav Preserve the Home . Any interest or right in the Home, regardless of its manner of attachment to or
affixat ion in the Resident-Owned Mobile Ho me Pa rk, which the Resident-Owned Corporation now has or may have in
the future by reason of the Home's location in the Resident-Owned Mobile Home Park, or otherwise, is and shall be subject and
subordinate to the rights of Lender under the Securit y Agreement, provided that Lender timely exercises its rights and performs its
duties as provided in the above-referenced provisions of the Civil Code when applicable. Lender, or its agents, shall have the right to
enter the Resident-Owned Mobile Home Park to inspect, maintain, repair, repossess, remove, or dispose of the Home and to repossess
the membership/share(s), should it be entitled t0 do so under the Security Agreement, free of liens, distraint claims, or demands on
the Home whatsoever on the part of the Resident-Owned Corporation, provided that all obligations of the Borrower(s)/Member(s)-
Shareholder(s) to the Corporation shall be timely paid and/or otherwise timely performed by Lender. Lender may extend or change the
terms of the Security Agreement or the loan obligations which it secures in any respect from time to time without consent of or notice
to the Corporation and/or its agents, successors or assignees. The Corporation will make no claim to the Home or membership/share(s)
unless Lender fails to perform its obligations hereunder and as provided in the above-referenced sections of the Civil Code (M obile
Home Residency Law), under which rent payments and other obligations are to be timely performed by Lender. In the event of any
default by any Borrower under the Security Agreement, the Corporation agrees that, following a repossession/foreclosure, at Lender's

30473 Mulholland Hwy.                                          14 of 22                                      818-889-1221 (phone)
Cornell CA 91301                                                                                             818-889-1227 (fax)
                                                    Package revised May 2011
option, the Home may remain in the Resident-Owned Mobile Home Park and be sold, together with the membership/share(s), to a
qualified buyer approved by the Corporation, provided that Lender timely performs all rent payment and other obligations hereunder
and as provided in the above-referenced sections of the Civil Code (Mobile Home Residency Law).

4.        Notice to Lender of Default (if Any). The Corporation agrees that it will notify Lender promptly in writing via Certified M ail
of any delinquency in payment of rent by the Borrower or of any other violation of the Borrower's tenancy agreement with the
Corporation which w                              o
                      ould constitute grounds f r eviction of the Member(s)-Shareholder(s) and/or eviction of the Home and/or
termination of membership. Notification should be made to Lender in writing at:

                                            Community West Bank
                                            Attn: Special Assets Dept.
                                            445 Pine A venue
                                            Goleta, CA 93117

5.         Bank's Right After Repossession/Foreclosure.       The Corporation agrees that should the Lender foreclose upon/take
possession of the Home under the terms of the Security Agreement, then the Lender may elect that the Home be sold and remain after
the resale on the M obile Home space on which the Home is then situated, provided that (a) the Bank shall pay the Corporation (as
landlord of the Resident-Owned Mobile Home Park) the then-existing monthly rent, at the rate then effect without regard to the
Borrower's default, and all other amounts due to the Corporation (as landlord of the Resident-Owned Mobile Home Park) as provided
in the Civil Code or otherwise, and (b) upon taking possession, Bank will maintain the Home and the Mobile Home space according to
the rules and regulations of the Resident-Owned Mobile Home Park and applicable law. While Lender shall have the right to keep and
maintain the Home in its M obile Home space and to sell it in compliance with all applicable procedures, Lender shall not have any
right of occupancy or the right to sublet such Home without the express written permission of the Corporation (as landlord of the
Resident-Owned M obile Home Park). Lender shall not sell the Home separate from the membership/share(s) in the Corporation, unless
the Home is removed from the Resident- Owned Mobile Home Park.

6.         Right of Purchaser of Repossessed Home to Become a Member(s)-Shareholder(s). If the Home and membership/share(s) of
Borrower are repossessed by Lender, and Lender meets the conditions of this Agreement, the Corporation agrees to offer any purchaser
of the Home and membership/share(s) a lease of the Mobile Home space on the same terms as are offered to other
members/shareholders, provided the purchaser meets the standards of the Corporation and is approved by the Corporation in advance.
In the event the original share certificate is missing, the Corporation agrees to transfer the shares on the books of the Corporation and
issue a new certificate to the purchaser up on affidavit from Lender and without bond. The rent required to be paid by t he purchaser
shall be e qual to the amount of rent which would have been in effect for the foreclosed-upon prior Borrower(s)/Member(s)-
Shareholder(s). The age of the Home shall not be a factor in determining whether a lease of the Mobile Home space will be offered, or
in determining the amount of rent.

7.        Other Parties Bound by This Agreement. This Agreement shall be binding upon the Corporation, its successors and assigns,
provided that the terms of this Agreement shall also be binding on the Lender or any assignee of or successor owner of Lender's
position under the Security Agreement. Bank may assign or otherwise hypothecate its rights under this Agreement.

8.        Entire Agreement. Etc.. This Agreement is the entire agreement between the Resident-Owned Corporation and Lender
with respect to the matters set forth herein. No agreement shall be effective to change, modify or discharge this Agreement unless the
same is in writing and signed b y an authorized officer of the Lender or any assignee or successor of Lender. Any provision of this
Agreement prohibited under California law shall be ineffective to the extent of such prohibition without invalidating the remaining
provisions hereof.


Dated: ____________________________, 2011 _________________________________________________ ,Inc.
                                                          (Name of Resident-Owned Corporation)

                                                  By: _________________________________________________
                                                                   (Name of Signatory)

                                                  Its: _________________________________________________
                                                                    (Title or Position)




30473 Mulholland Hwy.                                          15 of 22                                       818-889-1221 (phone)
Cornell CA 91301                                                                                              818-889-1227 (fax)
                                                     Package revised May 2011
                                     Additional Information

FICO Score

Ever wonder why you can go online and be approved for credit within 60 seconds? Or get pre-
qualified for a car without anyone even asking you how much money you make? Or why you get one
interest rate on loans, while your neighbor gets another?

The answer is credit scoring.

Your credit score is a number generated by a mathematical algorithm -- a formula -- based on
information in your credit report, compared to information on tens of millions of other people. The
resulting number is a highly accurate prediction of how likely you are to pay your bills.

If it sounds arcane and unimportant, you couldn't be more wrong. Credit scores are used extensively,
and if you've gotten a mortgage, a car loan, a credit card or auto insurance, the rate you received was
directly related to your credit score. The higher the number, the better you look to lenders. People
with the highest scores get the lowest interest rates.

Scoring categories

Lenders can use one of many different credit-scoring models to determine if you are creditworthy.
Different models can produce different scores. However, lenders use some scoring models more than
others. The FICO score is one such popular scoring method.

Its scale runs from 300 to 850. The vast majority of people will have scores between 600 and 800. A
score of 720 or higher will get you the most favorable interest rates on a mortgage, according to data
from Fair Isaac Corp., a California-based company that developed the first credit score as well as the
FICO score.

Fair Isaac reports that the American public's credit scores break out along these lines:

                                 Credit score               Percentage

                             499 and below              2 percent
                             500-549                    5 percent
                             550-599                    8 percent
                             600-649                    12 percent
                             650-699                    15 percent
                             700-749                    18 percent
                             750-799                    27 percent
                             800 and above              13 percent

Currently, each of the three major credit bureaus uses their own version of the FICO scoring method -
Equifax has the BEACON score, Experian has the Experian/Fair Isaac Risk Model and TransUnion
has the EMPIRICA score. The three versions can come up with varying scores because they use

30473 Mulholland Hwy.                            16 of 22                           818-889-1221 (phone)
Cornell CA 91301                                                                    818-889-1227 (fax)
                                         Package revised May 2011
different algorithms. (Variance can also occur because of differences in data contained in different
credit reports.)

That could change, depending on whether a new credit-scoring model catches on. It's called the
VantageScore. Equifax, Experian and TransUnion collaborated on its development and will all use
the same algorithm to compute the score. Consumers can order their VantageScores online at
Experian's Web site for $6. Its scoring range runs from 501 to 990 with a corresponding letter grade
from A to F. So, a score of 501 to 600 would receive an F, while a score of 901 to 990 would receive
an A. Just like in school, A is the best grade you can get.

What's the big deal?

No matter which scoring model lenders use, it pays to have a great credit score. Your credit score
affects whether you get credit or not, and how high your interest rate will be. A better score can lower
your interest rate.

The difference in the interest rates offered to a person with a score of 520 and a person with a 720
score is 4.36 percentage points, according to Fair Isaac's Web site. On a $100,000, 30- year mortgage,
that difference would cost more than $110,325 extra in interest charges, according to Bankrate.com's
mortgage calculator. The difference in the monthly payment alone would be about $307.

Powerful little number

If you rented an apartment, got braces, bought cell phone service, applied for a job that involved
handling a lot of money, or needed to get utilities connected, there's a good chance your score was
pulled.

If you have an existing credit card, the issuer is likely to look at your credit score to decide whether to
increase your credit line -- or charge you a higher interest rate, according to a credit scoring study by
the Consumer Federation of America and the National Credit Reporting Association.

Buying a car? Most car dealers want to know your credit score when you walk in the door. "They
want to know how they can put a loan together for you."

The score has made it easier for many people to get credit.

Before, it was up to individual lending institutions to come up with their own criteria, he says. "They
would hedge their risk and tend to go conservatively. It's opened up lending to a lot more people."

Consumers' rights

Until recently, many Americans didn't even know this number existed because it was a closely
guarded secret in the lending industry. In fact, lenders were prohibited from telling borrowers their
credit score. The line of reasoning: The number was the result of analyzing complex financial data
that the layperson would have difficulty understanding. Plus, if people knew their score (according to
the industry mindset at the time), they might be able to change their behavior to manipulate the score
and throw off the whole model, rendering it useless.

All that changed a few years ago, when consumers began finding out about the score and demanding
to see it. In an unprecedented move in 2000, online lender E- Loan offered to give consumers their
scores for free, with information explaining how the score is calculated and how they might improve
30473 Mulholland Hwy.                            17 of 22                             818-889-1221 (phone)
Cornell CA 91301                                                                      818-889-1227 (fax)
                                         Package revised May 2011
it. Fair Isaac responded by cutting E-Loan off from its source of credit reports, effectively crippling
its ability to lend money. E- Loan stopped giving away credit scores.

Public outcry on the possibility of people being denied credit based on bad information in credit
reports led to several pieces of legislation -- and a much more open attitude about credit scores.

Fast forward to current day: Not only can consumers buy their score online from any number of
sources, but everyone is entitled to a free copy of their credit report every 12 months from each of the
three major credit bureaus -- Equifax, Experian and TransUnion. The program rolled out across the
nation one geographical region at a time with all consumers eligible on Sept. 1, 2005.

Key factors of your score

Just what goes into the score? Everything in your credit report, with different kinds of information
carrying differing weights, says Fair Isaac Corp. Public Affairs Manager Craig Watts. The FICO-
scoring model looks at more than 20 factors in five categories. (The VantageScore relies on slightly
different factors. The Bankrate feature "New Vantage credit score now online" compares the FICO
score with VantageScore. )

   1. How you pay your bills (35 percent of the score)

       The most important factor is how you've paid your bills in the past, placing the most emphasis
       on recent activity. Paying all your bills on time is good. Paying them late on a consistent basis
       is bad. Having accounts that were sent to collections is worse. Declaring bankruptcy is worst.

   2. Amount of money you owe and the amount of available credit (30 percent)

       The second most important area is your outstanding debt -- how much money you owe on
       credit cards, car loans, mortgages, home equity lines, etc. Also considered is the total amount
       of credit you have available. If you have 10 credit cards that each have $10,000 credit limits,
       that's $100,000 of available credit. Statistically, people who have a lot of credit available tend
       to use it, which makes them a less attractive credit risk.

       "Carrying a lot of debt doesn't necessarily mean you'll have a lower score," Watts says. "It
       doesn't hurt as much as carrying close to the maximum. People who consistently max out their
       balances are perceived as riskier. People who never use their credit don't have a track history.
       People with the highest scores use credit sparingly and keep their balances low."

   3. Length of credit history (15 percent)

       The third factor is the length of your credit history. The longer you've had credit --
       particularly if it's with the same credit issuers -- the more points you get.

   4. Mix of credit (10 percent)

       The best scores will have a mix of both revolving credit, such as credit cards, and installment
       credit, such as mortgages and car loans. "Statistically, consumers with a richer variety of
       experiences are better credit risks," Watts says. "They know how to handle money."

   5. New credit applications (10 percent)

30473 Mulholland Hwy.                            18 of 22                            818-889-1221 (phone)
Cornell CA 91301                                                                     818-889-1227 (fax)
                                         Package revised May 2011
       The final category is your interest in new credit -- how many credit applications you're filling
       out. The model compensates for people who are rate shopping for the best mortgage or car
       loan rates. The only time shopping really hurts your score, Watts says, is when you have
       previous recent credit stumbles, such as late payments or bills sent to collections.

       "Then, looking for new credit will be seen as an alarm because statistically, before people
       declare bankruptcy and default on everything, they look for a life preserver," Watts says.
       Also, if you have a very young credit file, an inquiry can count for more than if you've had
       credit for a long time.

What doesn't count in a score

The scoring model doesn't look at:

   •   age
   •   race
   •   sex
   •   job or length of employment at your job
   •   income
   •   education
   •   marital status
   •   whether you've been turned down for credit
   •   length of time at your current address
   •   whether you own a home or rent
   •   information not contained in your credit report

A lender may consider all those factors when deciding whether to approve a loan application, but
they aren't part of how a FICO score is calculated, Watts says.

“Credit scores are not perfect. The major drawback to credit scoring is that it relies on information in
your credit report, which is quite likely to contain errors. That's why it's critical that you check your
credit reports annually, or at the very least three to six months before planning to buy a house or a
car. That will give you sufficient time to correct any errors before a lender pulls your score.”

Watts says that the need for accuracy in credit files is one reason why it's good for consumers to learn
about credit scores. "There's a hope that as consumers know about credit reports and scores, they'll do
more to correct errors and provide more oversight," he says. "If consumers can police the accuracy of
their own reports, everybody gains."




30473 Mulholland Hwy.                            19 of 22                             818-889-1221 (phone)
Cornell CA 91301                                                                      818-889-1227 (fax)
                                         Package revised May 2011
FHA criteria for a loan contains the following:

FHA’s written guidelines outline specific examples of what compensating factors may be taken
into consideration:

   •   The borrower has successfully demonstrated the ability to pay housing expenses equal to or
       greater than the proposed monthly housing expense for the new mortgage over the past 12-
       24 months.
   •   The borrower makes a large down payment (ten percent or more) toward the purchase of
       the property.
   •   The borrower has demonstrated an ability to accumulate savings and a conservative
       attitude toward the use of credit.
   •   Previous credit history shows that the borrower has the ability to devote a greater portion of
       income to housing expenses.
   •   The borrower receives documented compensation or income not reflected in effective
       income, but directly affecting the ability to pay the mortgage, including food stamps and
       similar public benefits.
   •   There is only a minimal increase in the borrower’s housing expense.
   •   The borrower has substantial documented cash reserves (at least three months’ worth) after
       closing. In determining if an asset can be included as cash reserves or cash to close, the
       lender must judge whether or not the asset is liquid or readily convertible to cash and can
       be done so absent retirement or job termination.
   •   Funds borrowed against these accounts may be used for loan closing, but are not to be
       considered as cash reserves. “Assets” such as equity in other properties and the proceeds
       from a cash-out refinance are not to be considered as cash reserves. Similarly, funds from
       gifts from any source are not to be included as cash reserves.
   •   The borrower has substantial non-taxable income (if no adjustment was made previously in
       the debt to income ratio computations).
   •   The borrower has a potential for increased earnings, as indicated by job training or
       education in the borrower’s profession.
   •   The home is being purchased as a result of relocation of the primary wage-earner, and the
       secondary wage-earner has an established history of employment, is expected to return to
       work, and reasonable prospects exist for securing employment in a similar occupation in
       the new area. The underwriter must document the availability of such possible employment.

There are other examples not specifically mentioned here such as a monthly housing payment
being low by comparison to the borrowers’ monthly income or a high debt to income ratio
might be allowed if a house with a mortgage against it is pending sale but won’t close prior to
the need for the new mortgage. Any compensating factor used to justify mortgage approval
must be supported by documentation to be considered.
With lending guidelines taking a more open mind, it’s time to look to compensating factors
when a situation arises where a credit score is slightly low, a debt to income ratio is high, a
buyer needs to temporarily assume 2 housing payments and a number of other circumstances.
Be sure not to buy into what you see on the evening news and trust that common sense in
mortgage underwriting is more real than many might think. Be in the know and take
advantage of it!




30473 Mulholland Hwy.                          20 of 22                          818-889-1221 (phone)
Cornell CA 91301                                                                 818-889-1227 (fax)
                                       Package revised May 2011
A mortgage loan approval requires that you meet certain criteria. A lender will look at your monthly
payment obligations and your income to determine if you can handle additional debt. He will also
look at your credit history, the appraised value of the property and the stability of your income.

Primary Debt Ratio
Your primary debt ratio is the total of any debts related to the property, divided by your gross
monthly income. The debts included are your proposed principal and interest payment, property
taxes, homeowners insurance, mortgage insurance (if required) and homeowners association dues (if
applicable). Lenders prefer this ratio to be 28 percent or less. Exceptions occur if there are sufficient
compensating factors such as large cash reserves or long-term job stability. Usually the maximum
ratio considered is around 34 percent.

Secondary Debt Ratio
Your secondary debt ratio is the sum of all of your fixed monthly obligations divided by your gross
income. Fixed obligations include auto payments, student loans, credit card minimum payments and
any other installment debts, in addition to your housing expenses. Lenders prefer this ratio to be
around 36 percent. Again, exceptions occur for compensating factors. Installment debts with 10
payments or less remaining are not considered. An exception to this would be an auto lease payment.
Lenders believe that you will lease another vehicle when the lease is completed.

Other Factors
Your credit history will also play a large role in determining whether you qualify for the loan.
Lenders look at your credit score and any serious delinquencies such as previous foreclosures and
bankruptcies. He will look closely at your mortgage or rental payment history and will look at your
total obligations compared to your proposed obligations. He looks for something called payment
shock. This occurs when your proposed payments are considerably larger than your current
payments. This is potentially a problem even if your debt ratios are within acceptable limits.

Conclusions
If you expect to apply for a new mortgage loan, you should look closely at your current obligations.
If you have sufficient cash reserves, you should consider paying off some of your installment and
revolving debt prior to applying for a loan. This will lower your debt ratio and make it easier to
qualify. You should do this two or three months prior to applying to allow the information time to
appear on your credit report.

Your debt-to- income ratio is arguably as important as your credit score. Your credit score reflects
how responsible you are in paying your bills, but the debt-to-income ratio gives potential creditors
even more insight into your personal finances. The debt-to- income ratio shows just how much debt
you're juggling as compared to your income. It's possible that someone with a good credit score could
be turned down for a mortgage or home because lenders felt the borrower was simply carrying too
much debt, despite a steady history of on-time payments.

Instructions on estimating your debt to income ratio
Things you'll need:

   •   Recent pay stubs
   •   Recurring bill statements
   •   Calculator


30473 Mulholland Hwy.                            21 of 22                             818-889-1221 (phone)
Cornell CA 91301                                                                      818-889-1227 (fax)
                                         Package revised May 2011
   1. Gather recent paycheck stubs. Use the information to determine your monthly gross income.

   2. Get statements from all your monthly recurring bills, such as student loans, car payments,
      credit cards, and your mortgage or apartment rental. Do not include variable living expenses
      such as groceries, gas or utilities, as these are not considered debts. Add the amounts from
      your recurring bills to calculate your monthly debt obligation.

   3.    Divide your monthly debt by your monthly gross income to determine your debt-to-income
        ratio. For example, let's say your gross monthly income is $4,000. Your apartment costs $900
        a month, you have a $300 car payment and your loans and credit card debt totals $175 a
        month. That's a total of $1,375 in monthly recurring debt. Dividing $1,375 by $4,000 gives
        you a debt-to-income ratio of 34.4 percent. According to the website Bank Rate, creditors like
        to see debt-to- income ratios of less than 36 percent. Loans might be possible with a higher
        debt-to-income ratio, but at higher interest rates.




30473 Mulholland Hwy.                           22 of 22                           818-889-1221 (phone)
Cornell CA 91301                                                                   818-889-1227 (fax)
                                        Package revised May 2011

				
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