Condo Purchase Checklist

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					                                                                                           STATE OF WISCONSIN, DEPARTMENT OF VETERANS AFFAIRS
                                                                                           30 West Mifflin Street, P.O. Box 7843, Madison, WI 53707-7843
                                                                                           (608) 266-1311 1-800-WIS-VETS (947-8387)

Wis. Stats. Chapter 45


                                                                                        REGULAR UNDERWRITING CHECKLIST
      Lender Name and Address                                                  Personal information you provide may be used for secondary purposes [Privacy Law, s.15.04(1)(m)].




                                                                                                                   Base File No.                                Lender No.


  Name of Veteran and Spouse

  Property Address                                                                             City                               County                        Zip Code
  $
      Loan Amount                  Term (months)                  Rate           Proj. Closing Date            Bond Issue             Lender No.                   Cert. of Elig. No.

                                                                                            Loan Type
       Purchase             Take Out        Condo.        Purchase Constr.            Construction           Purchase Improve.           Purchase Rehab.
                                                                                Minimum Funds Required
  $                            +      $                       +      $                 =      $                     //      $                      +/-    $
  Downpayment                         Closing Costs                  Moving Costs             Minimum Required              Verified Funds                Surplus Funds
                                                                               Proposed Monthly Payments
  $                      + $                + $                     + $                     = $                          + $                          =   $
  P&I                      RE Taxes           Hazard Ins.             Condo. Dues             Mon. Housing Pmts.           All Other Pmts.                Total Monthly Pmts.
                                                                                      Qualifying Ratios
  $                           $                          $                                                    %        LTP not more than 95%. Mobile Home not more than 85%.
  Loan Amount                 Total Cost (Price)         Appraised Value               Loan  Price (LTP)           If Price exceeds Appraisal, additional down payment required.

  $                                                                        %                                    %
  Total Mo. Income                       Mo. Housing Pmt.  Income                   Total Mo. Pmts.  Mo. Income
                                                                         Documentation and Order of Packaging
  Original documents should not be submitted except for the certificate of eligibility and photos or digital prints of the subject property.
                                       General                                                                                     New Construction
       Lender’s Cover Letter.                                                                         Take Out
       Underwriting Checklist (WDVA 2333).                                                               Firm Price Contract with one year warranty from Gen. Contractor.
       Certificate of Eligibility (WDVA 0004 — Original Goldenrod).                                      OTP for vacant land or deed for land if not in contract.
       Loan Application (Fannie Mae 1003).                                                               Loan Documents being replaced.
       WDVA Addendum and Amendment (WDVA 2301A).                                                         Payoff statement for loan(s) being replaced.
       Income and Employment Verification.                                                            Purchase Construction
       Funds Verification.                                                                               Firm Price Contract with one year warranty from Gen. Contractor.
       Credit Report.                                                                                    OTP for vacant land or deed for land if not in contract.
       Completed Offer to Purchase (OTP) or New Construction Docs.                                    Construction Loans
       Appraisal with Original Photos (Fannie Mae 1004 or 1073).                                         Firm Price Contract with one year warranty from Gen. Contractor.
       WDVA Appraisal Addendum (WDVA 2302B).                                                             OTP for vacant land or deed for land if not in contract.
       Life of Loan Flood Zone Certificate.                                                              Specifications.
       Septic Inspection Report if applicable.                                                           Plans.
       Safe Water Report if applicable.                                                                  OTP or deed for land if not in contract.
       Other, i.e. Bankruptcy Docs., satisfactions, etc.
       Veteran has 30% or more service connected disability. Submit USDVA
       award letter to qualify for WDVA paid Loan Origination Fee.


  Contact Person                                                            Area Code / Phone #                                    Authorized Signature

  E-mail Address                                          Area Code / Fax #                        Date
  Please refer to the WDVA Primary Mortgage Loan Program Lenders Manual (WDVA M2005) and the Fannie Mae Seller’s Guide for specific guidance.
  Purchase and Condominium Loans can be submitted on the Automated Underwriting Checklist (WDVA 2334).
                                                                                                                                         For WDVA Use Only

                                                                                                               Lndr. No.              Base File No.         Seq. No.           D or Q

  WDVA 2333 (07/06)                                                                                                      You can print the most recent version of this form from
  W:\Templates\WDVA_2333_Regular_Underwriting_Checklist.dot                                                              the WDVA Web site at www.dva.state.wi.us/forms.asp.

				
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