Uniform Residential Loan Application Page 1

The Fannie Mae Form 1003 and Freddie Mac Form 65 vary slightly in this opening paragraph but the following applies. If the income or assets of a person other than the Borrower (including the Borrower’s spouse) will be used as a basis for loan qualification, check the first box.

If the income or assets of the Borrower’s spouse or other person who has community property or similar rights pursuant to applicable 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 who has community property or similar rights and the 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, check the second box.

If this is an application for joint credit, Borrower and Co-Borrower each must agree that they intend to apply for joint credit. The Borrower and Co-Borrower must sign.

Part 1. Type of Mortgage and Terms of Mortgage

“Mortgage Applied for”: Check the appropriate box for the type of loan the borrower has applied for: VA, FHA, Conventional, USDA/Rural Housing Service, Other.
“Agency Case Number”: Enter the agency case number, if applicable.
“Lender Case Number”: Enter the lender case number, if applicable.
“Amount”: Enter the amount of the mortgage the borrower has applied for.
“Interest Rate”: Enter the appropriate interest rate that the borrower locked into or was quoted.
“No. of Months”: Enter the number of months for the type of mortgage the borrower has applied for, i.e. 360 for 30 year, 180 for 15 year, 120 for 10 year, 360 for 5/1 ARM, etc.
“Amortization Type”: Check the appropriate box. For an “ARM” check the box and enter the appropriate type of ARM the borrower has applied for. For “Other” check the box and enter the appropriate description for the type of loan the borrower has applied for.

Part II. Property Information and Purpose of Loan

“Subject Property”: Enter the address of the property that is being used as collateral for the loan, i.e. the address of the home the borrower is purchasing or the address of the property the borrower is refinancing.
“No. of Units”: Enter the number of units, i.e. single family – 1 unit, duplex – 2, etc.
“Legal Description of Subject Property”: Enter the legal description as found on the purchase contract, deed or title policy, i.e. Lot 20, Block 10, Santa Barbara County, CA
“Year Built”: Enter the year the subject property was built.
“Purpose of Loan”: Check the appropriate box for a purchase, refinance, construction, construction-permanent or other.
“Property will be”: Check the appropriate box based on what the subject property will be used for, primary residence, second home or investment property.
NOTE: The next section is only to be completed if the loan being applied for is a construction or construction-permanent loan.
“Year Lot Acquired”: Enter the year the lot was acquired.
“Original Cost”: Enter the original cost of the lot.
“Amount Existing Liens”: Enter the amount of the existing liens.
“(a) Present Value of Lot”: Enter the present value of the lot.
“(b) Cost of Improvements”: Enter the cost of any improvements made
“Total (a+b)”: Add a+b and enter the total.
NOTE: The next section is only to be completed if the loan being applied for is for a refinance.
“Year Lot Acquired”: Enter the year the lot was acquired.
“Original Cost”: Enter the original cost of the lot.
“Amount Existing Liens”: Enter the amount of the existing liens.
“Purpose of Refinance”: Enter the purpose of the refinance, i.e. cash-out debt consolidation, rate/term refinance, cash-out home improvement, etc.
“Describe Improvements”: Enter a description of any improvements that have been or will be made to the property and the cost associated with these improvements.
“Title will be held in what Name(s)”: Enter the exact name(s) in which title will be held. This is how the borrower(s) names will appear on the deed and title policy.
“Manner in which Title will be held”: Enter how the title will be held, i.e. joint tenants, tenants in common, separate property, etc.
“Estate will be held in”: Check the appropriate box. If leasehold, enter the expiration date of the lease.
Fee simple is the norm. With fee simple ownership, ownership of the entire property is acquired, both land and improvements. The fee simple owner has full rights of ownership, including selling to others, leasing, giving it away and passing it on to others after death.
Leasehold ownership does not include ownership of the land, only the right to use it for the amount of time remaining on the lease. When the lease is up, the land reverts back to the owner in fee simple. Under leasehold ownership ground rent is paid. Your rights of ownership do not extend beyond the term of the lease.
“Source of Down Payment, Settlement Charges, and/or Subordinate Financing (explain)”: Enter where the source of funds used for money due at closing will be coming from, i.e. checking, account, savings account, brokerage account, net proceeds from sale of home, etc.

Part III. Borrower Information

NOTE: If this application is being completed by one individual, only complete the left side of this section titled “Borrower.” If this is a joint application, complete both the “Borrower” and “Co-Borrower section.” Instructions below should be followed for each side if there is a borrower and co-borrower.
“Borrower’s Name”: Enter the full name of the borrower/co-borrower.
“Social Security Number”: Enter the borrower/co-borrower’s social security number.
“Home Phone”: Enter the home telephone number of the borrower/co-borrower.
“DOB”: Enter the date of birth of the borrower/co-borrower, mm/dd/yyyy format.
“Yrs. School”: Enter the number of years of schooling (including graduate and post-graduate) the borrower/co-borrower has completed.
“Married, Separated or Unmarried”: Check the appropriate box for married, separated or unmarried.
“Dependents (not listed by co-borrower)”: Enter the number of dependents and their ages.
“Present Address (street, city, state, ZIP”: Enter the borrower/co-borrower’s current address. Check the appropriate box for own or rent and enter the number of years the borrower/co-borrower has been at this residence.
“Mailing Address, if different from Present Address”: Enter the mailing address of the borrower/co-borrower’s present home if different from present address.
NOTE: If residing at present address for less than two years, the following must be completed:
“Former Address (street, city, state, ZIP)”: Enter the borrower/co-borrower’s previous address. Check the appropriate box for own or rent and enter the number of years the borrower/co-borrower had occupied that residence. NOTE: Use the Page 4 continuation sheets if additional residences need to be listed to produce a 2 year history.

Part IV. Employment Information

NOTE: If this application is being completed by one individual, only complete the left side of this section titled “Borrower.” If this is a joint application, complete both the “Borrower” and “Co-Borrower section.” Instructions below should be followed for each side if there is a borrower and co-borrower.
“Name & Address of Employer”: Enter the name and address of the borrower/co-borrower’s current employer. Check the “Self Employed” box if the borrower/co-borrower is self employed.
“Yrs. on this job”: Enter the number of years the borrower/co-borrower has been employed with this employer.
“Yrs. employed in this line of work/profession”: Enter the number of years the borrower/co-borrower has been employed in this line of work/profession.
“Position/Title/Type of Business”: Enter the borrower/co-borrower’s position/title/type of business.
“Business Phone (incl. area code): Enter the borrower/co-borrower’s business telephone number.
NOTE: 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 Employer”: Enter the name and address of the borrower/co-borrower’s most recent former employer or borrower/co-borrower’s second job. Check the “Self Employed” box if the borrower/co-borrower is self employed.
“Dates (from-to)”: Enter the from and to date of the borrower/co-borrower’s most recent former employment or second job. If this is a second job, enter the to date as “PRESENT.”
“Monthly Income”: Enter the gross monthly income earned with this employer.
“Position/Title/Type of Business”: Enter the borrower/co-borrower’s position/title/type of business.
“Business Phone (incl. area code): Enter the borrower/co-borrower’s business telephone number.
Note: Use additional spaces and/or the Page 4 continuation sheets if additional employment history needs to be listed to produce a 2 year history.

Uniform Residential Loan Application Page 2

Part V. Monthly Income and Combined Housing Expense Information

Gross Monthly Income

“Base Empl. Income”: Enter the borrower/co-borrower’s gross monthly base income in this field and enter the combined total of the borrower/co-borrower’s gross monthly base income in the total field.
“Overtime”: Enter the gross monthly overtime income the borrower/co-borrower receives regularly and can be documented. Enter the combined total of the borrower/co-borrower’s gross monthly overtime income in the total field.
“Bonuses”: Enter the gross monthly bonus income the borrower/co-borrower receives regularly which can be documented. Enter the combined total of the borrower/co-borrower’s gross monthly bonus income in the total field.
“Commissions”: Enter the gross monthly commission income the borrower/co-borrower receives regularly which can be documented. Enter the combined total of the borrower/co-borrower’s gross monthly commission income in the total field.
“Dividends/Interest”: Enter the gross monthly dividends/interest income the borrower/co-borrower receives regularly which can be documented. Enter the combined total of the borrower/co-borrower’s gross monthly dividends/interest income in the total field.
“Net Rental Income”: Enter the gross monthly net rental income the borrower/co-borrower receives regularly from any rental properties listed on the application. Enter the combined total of the borrower/co-borrower’s net rental income in the total field.
“Other (before completing, see the notice in “describe other income,” below”: Enter the total of any “Other” income listed below in the “Describe Other Income” section. Enter the combined total of the borrower/co-borrower’s other income in the total field.
“Total”: Enter the total of all columns above.
“Describe Other Income”: Use this section to enter any other income that does not fit into the above listed categories. Enter “B” for borrower and “C” for co-borrower, provide a description of the type of income (social security, alimony, child support, etc.) and enter the gross monthly amount of the income. Be sure to include the total of all other income in the “Other” field above. NOTE: Some automated underwriting systems that will be used for approval of the loan may require that you list self-employment income in this section, rather than in the above section. Please check the procedures for the automated underwriting system being used.

Combined Monthly Housing Expense

“Rent”: Enter the borrower’s monthly rent payment in the present column if they are renting.
“First Mortgage (P&I)”: Enter the borrower’s present monthly first mortgage payment (include principal and interest) in the present column if they currently own a home. Enter the borrower’s proposed monthly first mortgage (include principal and interest) payment in the proposed column.
“Other Financing (P&I)”: Enter any other monthly subordinate financing payment (including principal and interest), i.e. home equity loan that the borrower currently has on their home in the present column. If there will be any subordinate financing associated with the new loan, enter the proposed monthly subordinate financing payment (including principal and interest) in the proposed column. If this is a refinance, this would include any existing subordinate financing that will not be paid off.
“Hazard Insurance”: Enter the borrower’s current monthly homeowner’s insurance premium in the present column. Enter the borrower’s proposed monthly homeowner’s insurance premium in the proposed column.
“Real Estate Taxes”: Enter the borrower’s current monthly real estate taxes in the present column. Enter the proposed borrower’s monthly real estate taxes in the proposed column.
“Mortgage Insurance”: Enter the borrower’s current monthly mortgage insurance premium in the present column. Enter the borrower’s proposed monthly mortgage insurance premium in the proposed column. The mortgage insurance premium is only applicable if the loan to value ratio is greater than 80%.
“Homeowner Assn. Dues”: Enter the borrower’s current monthly homeowner’s association dues in the present column. Enter the borrower’s proposed monthly homeowner’s association dues in the proposed column (Association dues are associated with PUDs or condos).
“Other”: Enter any other present or proposed monthly housing expenses.

Part VI. Assets and Liabilities

Opening Paragraph

If there is a co-borrower associated with the application, the appropriate box needs to be checked.

Assets

“Cash deposit toward purchase held by”: Enter the name of the individual/company holding any earnest money deposit and enter the cash or market value of the deposit, i.e. seller’s attorney, $15,000.
“List checking and savings accounts below”: Enter all of the borrower’s/co-borrower’s checking and savings accounts including bank addresses and account numbers. Also enter the cash value of these accounts. NOTE: Use the Page 4 continuation sheets if additional checking/savings accounts need to be listed.
“Stocks & Bonds (Company name/number & description)”: Enter all of the borrower’s/co-borrower’s stocks and bonds owned including name of stock and number of shares as well as any necessary descriptions. Also enter the market value of these stocks and bonds. NOTE: Use the Page 4 continuation sheets if additional stocks and bonds need to be listed.
“Life insurance net cash value”: Enter the face value of the borrower’s/co-borrower’s life insurance policy and the market value.
“Subtotal Liquid Assets”: Enter the total of all of the above listed liquid assets.
“Real estate owned (enter market value from schedule of real estate owned)”: Enter the total market value of any real estate owned listed on page 3 of the application. This is the total of any properties that the borrower/co-borrower currently owns, not any pending or future properties.
“Vested interest in retirement fund”: Enter the total market value of all of the borrower/co-borrower’s retirement funds, including 401Ks, IRAs, etc.
“Net worth of business(es) owned (attach financial statement)”: Enter the value of any businesses owned (as documented on the borrower’s/co-borrower’s financial statements).
“Automobiles owned (make and year)”: Enter the make and year of the borrower’s/co-borrower’s automobiles. Also, enter the market value of these vehicles.
“Other Assets (itemize)”: Enter the name and value of any other assets, i.e. boats, jewelry, etc.
“Total Assets a.”: Enter the total of all assets here.

Liabilities

“Name and address of company”: Enter the name, address and account numbers for all of the borrower’s/co-borrower’s liabilities. This list should include any mortgages, auto loans, student loans, revolving credit card debt, etc. NOTE: Use the Page 4 continuation sheets if additional liabilities need to be listed.
“Monthly Payment & Months Left to Pay”: Enter the monthly credit for each of the borrower’s/co-borrower’s accounts and the number of months left for any installment loans. For any revolving debt, use an (R) to specify revolving in place of the number of months left.
“Unpaid Balance”: Enter the total unpaid balance of the borrower’s/co-borrower’s accounts in this column.
“Alimony/Child Support/Separate Maintenance Payments Owed to”: If the borrower or co-borrower pays any of the above, enter the name of who the payments are made to and the monthly payment.
“Job-Related Expenses (child care, union dues, etc)”: If the borrower or co-borrower has any job-related expenses, enter the type of expense and the monthly amount paid to cover this expense.
“Total Monthly Payments”: Enter the total of all the borrower’s/co-borrower’s monthly payments in this field.
“Total Liabilities b.”: Enter the total amount of all the borrower’s/co-borrower’s unpaid balances in this field.
“Net Worth (a minus b)”: Subtract “Total Liabilities b.” from “Total Assets a.” and enter the borrower’s/co-borrower’s net worth in this field.

Uniform Residential Loan Application Page 3

Schedule of Real Estate Owned

“Property Address (enter S if sold, PS if pending sale or R if rental being held for income)”: Enter the property address (street address, city, state, zip) of all real estate owned. If this is a refinance, enter the subject property (the property being refinanced) first. Also enter S, PS or R. NOTE: Use the Page 4 continuation sheets if additional real estate owned needs to be listed.
“Type of Property”: Enter the type of property, i.e. SFR (single family residence), Condo, Duplex, PUD (planned unit development), etc.
“Present Market Value”: Enter the present market value of the property.
“Amount of Mortgages & Liens”: Enter the total amount of all outstanding liabilities on the property.
“Gross Rental Income”: Enter the monthly gross rental income if this is a rental property.
“Mortgage Payments”: Enter the total amount of monthly mortgage payments on the property (include principal and interest). Any subordinate financing should be included in this figure.
“Insurance, Maintenance, Taxes & Misc.”: Enter the total amount of monthly insurance, maintenance, taxes and misc. on the property. This would include homeowner’s insurance, homeowner’s association dues, real estate taxes, etc.
“Net Rental Income”: Subtract the mortgage payments + insurance, maintenance, taxes and misc. from gross rental income to come up with the net rental income. If a negative number, enter it here. If a positive number, this should be included in the income section of the application if the income is to be used to qualify for the loan. NOTE: Some automated underwriting systems that will be used for approval of the loan may double count the income from rental units if a positive number is entered in this section and the income section of the application. Please check the procedures for the automated underwriting system being used.

“List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s)”: If the borrower or co-borrower has received credit under any other name than that listed on the application, enter the appropriate information here along with the creditor name(s) and account number(s).

Part VII. Details of Transaction

“a. Purchase Price”: Enter the purchase price of the subject property.
“b. Alterations, improvements, repairs”: Enter the amount of the loan to be used for alterations, improvements, repairs.
“c. Land (if acquired separately)”: If the land is acquired separately, enter it here.
“d. Refinance (incl. debts to be paid off)”: If the loan is for the purpose of a refinance, enter the amount of loan, including any debts to be paid off.
“e. Estimated prepaid items”: Enter the amount of the prepaid items here as listed on the GFE (Good Faith Estimate).
“f. Estimate closing costs”” Enter the amount of the closing costs here as listed on the GFE (Good Faith Estimate).
“g. PMI, MIP, Funding Fee”: Enter the PMI, MIP and Funding Fees here.
“h. Discount (if borrower will pay)”: If the borrower/co-borrower is paying a discount to reduce the interest rate, enter it here.
“i. Total costs (add items a through h)”: Enter the total of a through h here.
“j. Subordinate financing”: Enter the amount of any subordinate financing, if applicable, here.
“k. Borrower’s closing costs paid by Seller”: If the purchase contract indicates the seller is paying for any of the borrower’s closing costs, enter it here.
“l. Other Credits (explain)”: Enter a description and amount of any other credits that the borrower/co-borrower will be receiving.
“m. Loan amount (exclude PMI, MIP, Funding Fee financed)”: Enter the loan amount here, excluding PMI, MIP and Funding Fee financed.
“n. PMI, MIP, Funding Fee Financed”: Enter the PMI, MIP or Funding Fee that is to be financed here.
“o. Loan amount (add m & n)”: Enter the total from m & n.
“p. Cash from/to Borrower (subtract j, k, l & o from i)”: Subtract j, k, l & o from i and enter it here. This is the amount the borrower/co-borrower has to bring to closing or the amount the borrower/co-borrower will be getting back at closing.

Part VIII. Declarations

“a. Are there any outstanding judgments against you?”: Check yes or no for borrower and
co-borrower, if applicable.
“b. Have you been declared bankrupt, within the past 7 years?”: Check yes or no for borrower and co-borrower, if applicable.
“c. Have you had property foreclosed upon or given title or deed in lieu thereof in the past 7 years?: Check yes or no for borrower and co-borrower, if applicable.
“d. Are you party to a lawsuit?”: Check yes or no for borrower and co-borrower, if applicable.
“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.)”: Check yes or no for borrower and co-borrower, if applicable. If borrower or co-borrower checks yes, the individual must 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?”: Check yes or no for borrower and co-borrower, if applicable. If borrower or co-borrower checks yes, the individual must provide details as described in the preceding question.
“g. Are you obligated to pay alimony, child support, or separate maintenance?”: Check yes or no for borrower and co-borrower, if applicable. If either the borrower or co-borrower is obligated, make sure it is listed as a liability in the appropriate section.
“h. Is any part of the down payment borrowed?”: Check yes or no for borrower and co-borrower, if applicable. If any part of the down payment is borrowed, check to make sure that it is listed as a liability with repayment terms stated.
“i. Are you a co-maker or endorser on a note?”: Check yes or no for borrower and co-borrower, if applicable. If the borrower or co-borrower is a co-maker or endorser on a note, check to make sure this is listed as a liability.
NOTE: If the borrower or co-borrower answers “Yes” to any questions a through i, the borrower or co-borrower should use the page 4 continuation sheet(s) to provide an explanation.
“j. Are you a U.S. Citizen?”: Check yes or no for borrower and co-borrower, if applicable.
“k. Are you a permanent resident alien?”: Check yes or no for borrower and co-borrower, if applicable.
“l. Do you intend to occupy the property as your primary residence? If “Yes” complete the question “m” below.”: Check yes or no for borrower and co-borrower, if applicable.
“m. Have you had an ownership interest in a property in the last three years?”: Check yes or no for borrower and co-borrower, if applicable. If borrower or co-borrower has had an ownership interest, 1 & 2 need to be answered.
“(1) What type of property did you own - Principal Residence (PR), second home (SH), or investment property (IP)?”: Enter PR for principal residence, SH for second home or IP for investment property.
“(2) How did you hold title to the home – solely by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?”: Enter S for solely, SP for jointly with spouse or O for jointly with another person.

Part IX. Acknowledgement and Agreement

Borrower and co-borrower, if applicable, must read this section and sign and date the application.

Part X. Information for Government Monitoring Purposes

This section is voluntary. The borrower and co-borrower, if applicable, are not required to complete this section, but are encouraged to do so. If the section is not completed by the borrower and co-borrower, the lender is required to note the information on the basis of visual observation and surname if the borrower or co-borrower has made this application in person.

The interviewer should check the appropriate box to indicate how the application was taken and also complete the interviewer’s name, signature, date, phone number and the name and address of the interviewer’s employer.

Uniform Residential Loan Application Page 4

Page 4 of the Uniform Residential Loan Application is a continuation sheet used for additional information requested on the application that could not be provided within the available spaces or for any explanations that may be required.

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