Mortgage Prequal Form - PDF

							                  FGMC PreQual Request & Loan Submission Form
Send this form, 1003, 1008, credit & DU findings. Always try to run DU, regardless of score, for BEST PRICING!!!
  Broker:                                                   Broker Contact:

  Telephone:                                                Fax:

  LTV Requested:                  Subject Property State:   Email:

  Borrower:                                     Score:      Co-Borrower:                                           Score:



   Compensating Factors                 3 mos reserves Time on job 5+ yrs       0x30 mortgage history
                                        Borrower currently in an ARM            Has ARM adjusted?
       Loan Purpose:          Manual       DU Approved
                              Purchase     R/T Refi        C/O Refi    Streamline
       Loan Program:          FHA      VA    Conventional    USDA    FHA 203K     1xClose Construction
       Property:              SFD      Condo    PUD     2-4 Unit    Manufactured   Modular
              ****************** BANK USE ONLY BELOW *********************
  Customer signatures and appraisal are NOT required               RATE:
  for underwriting. We underwrite TBD purchase files.
                                                                   If Manual Underwrite: _________________
      ***Submission Stacking Order***
             The following items required for submission:
                                                                   If DU/Approve Eligible: ________________
            DU Findings (if applicable)                                   Rates are subject to change until locked.
            Derogatory credit letter =<620                            *Underwriter holds the right to max the approval at a
            Credit Report                                             lower rate if necessary to ensure benefit to borrower.
            Complete 1003
            Income docs                                            The following additional items MUST also
            2 Months Bank Statements – all pages                      be submitted at time of submission:
            Assets to cover closings costs                            O LOE for any derogatory credit
            GFE                                                       O LOE for bankruptcy
                 Items not required for underwriting,                 O LOE for inquires indicating no new credit has been
                   but please send them if available:                      established
            Case # assignment w/ FGMC as sponsor
            MCAW or 1008
                                                                      O Copy of note & payment coupon
            Signed 4506T                                              O No cash-in-hand <620 score
            Signed Borrower’s Authorization                           O 29/41 max DTI– unless there’s FHA compensating
            Required Broker Disclosures                                 factor
            Purchase contract (if applicable)                         O VOR – 12 mos cancelled checks or mgmt VOR –
            Pay-off with NO PPP (if applicable)                            0x30x12
                                                                      O 3 Alternative trades @ 0x30x12
                Max Fee’s You Can Charge:                             O If BK buyout – need the following three items: -
       1% orig fee, 1% Broker fee & $495 Processing                        1) Pay history 2) Payoff from trustee
                        FGMC Fees:                                         3)Pay history for mortgage - must be 0x30x12.
             FHA-$795 Admin & $230 Doc prep                           O    Payment shock limited to 1.5 times of rent.
          Streamline $400 -- Conventional $475                        O    No cash-out >85%
                     Mortgagee Clause:                                O    Sr. Management approval required prior to submission
        First Guaranty Mortgage Corporation And/or                         to underwriting
      The Secretary of Housing and Urban Development                  O    Verify reserves to cover closing costs
                      ISAOA /ATIMA                                    O    Borrower must have 3 months PITI reserves AFTER
    8180 Greensboro Drive, Suite 500, McLean,VA 22102                      closing costs have been paid
               FHA Sponsor ID #7516800469
                VA Sponsor ID #6852450000
                  Email or fax submissions to:                        THIS IS NOT A LOAN APPROVAL!
          Barb Goff - bgoff@fgmc.com                                          Final decision is UW discretion!
                                                                     Please do NOT have borrower come out of pocket
      410-841-9013 cell - 866-914-8231 eFax                           for any expense until you have a UW approval!