Loan Application

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This application is designed to be completed by the applicant(s) with the Lender’s assistance.  Applications should complete this form as “Borrower” or “Co-Borrower,” as applicable.  Co-Borrower information must also be provided (and the appropriate box checked) when the income or assets of a person other than the Borrower (including the Borrower’s spouse) will be used as a basis for loan qualifications or the income or assets of the Borrower’s spouse or other person who has community property rights pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan.

 

If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for join credit (sign below):

PROPERTY INFORMATION AND PURPOSE OF LOAN
Are you currently working with or have you been referred to American Lending Solutions by a representative? If so who:
Subject Property Address (Street, City, State, Zip, County)
No. of Units
Purpose of Loan:
Property will be:
BORROWER INFORMATION
Borrower's Name (include Jr. or Sr. if applicable)
Co-Borrower's Name (include Jr. or Sr. if applicable)
Social Security No.
Home Phone
DOB
Social Security No.
Home Phone
DOB
Dependents Dependents (not listed by Borrower)
No. Ages No. Ages
Present Address (street, city, state, ZIP)
# years Present Address (street, city, state, ZIP)
# years
Mailing address (if different from present address)
Mailing address (if different from present address)
If residing at present address less than 2 years, complete the following:
Former Address (street, city, state, ZIP)
# years Former Address (street, city, state, ZIP)
# years
EMPLOYMENT INFORMATION
Name & Address of Employer

Yrs. on this job
Name & Address of Employer

Yrs. on this job
Yrs. in this profession
Yrs. in this profession
Position/Type of Business
Business Phone (incl. area code)
Position/Type of Business
Business Phone (incl. area code)
MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly Income Borrower Co-Borrower Total Monthly Housing Expense Present Proposed
Base Empl. Income Rent
Overtime First Mortgage (P&I)
Bonuses Other Financing (P&I)
Commissions Hazard Insurance
Rental Income Real Estate Taxes
Other* Mortgage Insurance
Homeowner Assn. Dues
ASSETS AND LIABILITIES
This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required. If the Co-Borrower section was completed about a non-applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.
Checking and Savings accounts balance
Vested interest in retirement fund
IRA/Annuity
DECLARATIONS
Borrower Co-Borrower
Are there any outstanding judgments against you?
Have you been declared bankrupt within 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, 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?
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 intend to occupy the property as your primary residence?
IF YES: Have you had an ownership interest in a property in the last three years?
IF YES: What type of property did you own – principal residence (PR), second home (SH), or investment property (IP)?
IF YES: How did you hold title to the home – by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?
ACKNOWLEDGEMENT AND AGREEMENT
Each of the undersigned specifically represents to Lender and to Lender’s actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees 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 , including monetary damages, to any person who may suffer any loss 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 loan requested pursuant to this application (the “Loan”) 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 residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors or assigns may rely on the information contained in the 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 closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, 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 reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, 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 transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.

Acknowledgement: Each of the undersigned hereby acknowledge that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency.

Borrower's signature (type)
Date
Co-Borrower's signature (type)
Date
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 not discriminate either on the basis of this information, or on whether you choose to furnish it.. If you furnish the information, please provide both ethnicity and race. For race, you may check more than one designation. If you do not furnish ethnicity, race, or sex, under Federal regulations, this lender is required to note the information on the basis of visual observation and surname if you have made this application in person. If you do not wish to furnish the information, please check the box below. (Lender must review the above material to assure that the disclosures satisfy all requirements to which the lender is subject under the applicable state law for the particular type of loan applied for.)
BORROWER I do not wish to furnish this information CO-BORROWER I do not wish to furnish this information
Ethnicity Hispanic or LatinoNot Hispanic or Latino Ethnicity Hispanic or LatinoNot Hispanic or Latino
Race Race
Sex FemaleMale Sex FemaleMale

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