Real Estate Purchase Loan Application

Real Estate Purchase Loan Application Borrower and/or Co-Borrower Documentation Check List: 1 2 3 4 5 6 7 8 9 10 Copy of Offer to Purchase Agreement on the property you are purchasing, if applicable. Copy of Offer to Purchase Agreement on the property you are selling, if applicable. Copy of two years federal tax forms with W-2 forms – ALL Pages. Copy of last 30 days pay stubs showing year to date and current monthly income. Copies of three months bank statements for all accounts – ALL Pages. Copies of last IRA, brokerage and other asset account statements - ALL Pages. Copy of current mortgage statement(s) - account number, address and telephone # Copy of your home insurance information with phone number and annual premium. If you are self-employed then we need a profit and loss statement for the current year. If you own a rental(s): a) Current mortgage statement(s) b) Account Number (s), c) Address(es) d) Telephone number (s) 11 12 13 14 15 Copy of the active Lease Agreement on rentals, if applicable. Copy of Divorce Papers, if applicable. Copy of Child Support, Maintenance or Alimony Agreement, if applicable. Copy of Bankruptcy including Discharge, if applicable. A check for $325 (or $475.00 if property to be purchased is an investment property) made payable to MortgageMax, Inc. for the Appraisal. (NOTE: Some lenders may require more than one appraisal for higher priced properties.) A check for $40 made payable to MortgageMax, Inc. for the credit report. Copy of drivers’ licenses and social security cards of all parties to the loan. 16 17 MortgageMax, Inc. 3005 Center Green Drive, Suite 225 Boulder, Colorado 80301 Phone: 303-443-5566 Fax: 303-444-8791 Real Estate Purchase Loan Application Borrower and/or Co-Borrower Loan information 1) Borrower Information: Name: Home Phone Fax# SS# Work Phone E-Mail 2) Co-Borrower information if applicable: Name SS# Home Phone Work Phone Fax# E-Mail 3) Property Address: Property Status Primary Residence Second Home Investment Property 5) Market Value of Property $ 7) Title to be held in what Name (s) a) b) c) d) 4) New Loan Amount $ 6) Year property built 8) Manner in which Title will be held Joint Single Person Tenants In Common 9) Borrowers Age Date of Birth Years of Schooling Marital Status No of Dependents Age of Dependents (s) 10) Co-Borrowers Age Date of Birth Years of Schooling Marital Status No of Dependents Age (s) of Dependents 11) Last two years address history, own or rent, and number of years at former/current address: Address Address Own/Rent Number of years at former/current address Own/Rent Number of years at former/current address MortgageMax, Inc.- Real Estate Purchase Loan Application Page 2 of 6 Real Estate Purchase Loan Application Borrower and/or Co-Borrower Loan information 12) Employment Information Two years employment history/occupation with name, address and telephone number, and number of years on each job. Also, total number of years employed in line of work/profession for each job: Borrower: Co-Borrower: Employer Employer Occupation Occupation Address Address Telephone Number No of years on this job No of years employed in this line of work Previous Employer Occupation Address Monthly Income $ Telephone Number No of years on this job-from to No of years employed in this line of work 13) Gross Monthly Income: Borrower $ Co-Borrower $ Total $ Telephone Number No of years on this job No of years employed in this line of work Previous Employer Occupation Address Monthly Income $ Telephone Number No of years on this job-from to No of years employed in this line of work 14) Current Monthly Housing Expense Rent $ Primary Mortgage (P&I) $ Second Mortgage (P&I) $ Hazard Insurance $ Real Estate Taxes $ Mortgage Insurance $ Homeowners Assn. Dues $ Other $ Total $ 15) Last Refinance - date and details, if any: 16) Homeowner’s Insurance contact info. Name Address Telephone Number Facsimile Amount on annual billing statement $ MortgageMax, Inc.- Real Estate Purchase Loan Application Page 3 of 6 Real Estate Purchase Loan Application Borrower and/or Co-Borrower Loan information 17) Amount of annual homeowner’s association dues, if applicable $ 18) Total amount of property taxes for last year: $ 19) Additional Real Estate Owned: Please provide Property Addresses, type of property (Sold, Pending Sale, or Rental); Present Market Value; the amount of Mortgages and/or Liens against the property; Gross Rental Income from the property; Mortgage Payments, if any; Insurance and Maintenance, Taxes and Misc.; and Net Rental Income Property address: Type of Property Mortgage and/or Liens $ Monthly Mortgage Payment $ Monthly Maintenance $ Monthly Misc. $ Monthly HOA Fees $ Property address: Type of Property Mortgage and/or Liens $ Monthly Mortgage Payment $ Monthly Maintenance $ Monthly Misc. $ Monthly HOA Fees $ 20) Vehicle Information: Make & Model Value $ Year Make & Model Value $ Year Present Market Value $ Gross Rental Income $ Monthly Insurance Expense $ Monthly Taxes $ Net Rental Income $ Original Cost of Property $ Present Market Value $ Gross Rental Income $ Monthly Insurance Expense $ Monthly Taxes $ Net Rental Income $ Original Cost of Property $ MortgageMax, Inc.- Real Estate Purchase Loan Application Page 4 of 6 Real Estate Purchase Loan Application Borrower and/or Co-Borrower Loan information 21) Declarations by Borrower / Co-Borrower (if you answer “yes” to any of the following questions please use a continuation sheet for explanation): Borrower a. b. c. d. e.. Are there any outstanding judgments against you? Have you been declared Bankrupt in the past 7 years? Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years? Are you a party to a lawsuit: 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.) Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation bond, or loan guarantee? If “Yes,” Are you obligated to pay alimony, child support, or separate maintenance? Is any part of the down payment borrowed? Are you a co-maker or endorser on a note? Are you a U.S. Citizen? Are you a permanent resident alien? Do you intent to occupy the property as your primary residence? If “Yes,” complete question (m) below. Have you had an ownership interest in a property in the last three years? 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)? Yes Yes Yes Yes Yes No No No No No Co-Borrower Yes Yes Yes Yes Yes No No No No No f. Yes No Yes No g. h. i. j. k. l. m. Yes Yes Yes Yes Yes Yes Yes No No No No No No No Yes Yes Yes Yes Yes Yes Yes No No No No No No No MortgageMax, Inc.- Real Estate Purchase Loan Application Page 5 of 6 Real Estate Purchase Loan Application Borrower and/or Co-Borrower Loan information 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 neither discriminate on the basis of this information, nor on whether you choose to furnish it. However, if you choose not to furnish it, under Federal regulations this Lender is required to note race and sex on the basis of visual observation or surname. If you do not with to furnish the above information, please check the box below. (Lender must review the above material to assure that the disclosure satisfy all requirements to which the Lender is subject under applicable state law for the particular type of loan applied for.) Borrower I do not with to furnish this information American Indian or Alaskan Native Asian or Pacific Islander Black, not of Hispanic Origin Hispanic White, not of Hispanic Origin Other (specify) Female - Male Co-Borrower I do not with to furnish this information American Indian or Alaskan Native Asian or Pacific Islander Black, not of Hispanic Origin Hispanic White, not of Hispanic Origin Other (specify) Female - Male Sex Sex BORROWER / CO-BORROWER AUTHORIZATION(S): I/We hereby authorize the Lender/Broker to verify my/our past and present employment earnings records, bank accounts, stock holdings, and any other asset balances that are needed to process my/our mortgage loan application. I/We further authorize the Lender/Broker to order a Consumer Credit Report and verify other credit information, including past and present mortgage and landlord references. It is understood that a copy or facsimile of this form will also serve as authorization. The information the Lender/Broker obtains is only to be used in the processing of my/our application for a mortgage loan. ____________________________________________ Borrower ______________________________ Date ____________________________________________ Co-Borrower ______________________________ Date MortgageMax, Inc.- Real Estate Purchase Loan Application Page 6 of 6