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Application Form | MGM Lenders, Inc.

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Uniform Residential Loan Application

This application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants 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 qualification 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 joint credit (sign below).

Borrower
Co-Borrower
I. TYPE OF MORTGAGE AND TERMS OF LOAN
Mortgage
Applied For

Agency Case Number

Lender Case Number

Amount - $

Interest Rate - %

No. Of Months

Amortization Type

II. PROPERTY INFORMATION AND PURPOSE OF LOAN

Subject Property Address (street, city, state, & ZIP)

County:

No. of Units

Legal Description of Subject Property (attach description if necessary)

Year Built

Purpose of Loan
Property will be
Borrower
Borrower Information
Co-Borrower
Borrower’s Name (include Jr. or Sr. if applicable)
Social Security Number
Home Phone (incl. area code)
DOB ( MM / DD / YYYY)
Yrs.
School

Dependents (not listed by Co-Borrower)
no.
Ages (Separate by comma)
Present Address (street, city, state, zip)
Mailing Address, if different from Present Address (street, city, state, zip)
Co-Borrower’s Name (include Jr. or Sr. if applicable)
Social Security Number
Home Phone (incl. area code)
DOB ( MM / DD / YYYY)
Yrs.
School

Dependents (not listed by Co-Borrower)
no.
Ages (Separate by comma)
Present Address (street, city, state, zip)
Mailing Address, if different from Present Address (street, city, state, zip)

If residing at present address for less than two years, complete the following:
Former Address (street, city, state, ZIP)
Former Address (street, city, state, ZIP)
Borrower
Employment Information
Co-Borrower
Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)

Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)

Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)
Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)

Name and Address of Employer
Years on this job

Yrs. employed in this line of work/profession

Position/Title/Type of Business
Business Phone (incl. area code)
V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly Income
Borrower
Co-Borrower
Total
Combined Monthly Housing Expense
Present
Proposed
Base Empl. Income*
Rent
Overtime
First Mortgage (P&I)
Bonuses
Other Financing (P&I)
Commissions
Hazard Insurance
Dividends/Interest
Real Estate Taxes
Net Rental Income
Mortgage Insurance
Other Homeowner Assn. Dues (before completing,see the notice in “describe other income,” below)
Homeowner Assn. Dues
Others:
Total
Total
* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.

Described Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.

B/C
Monthly Amount
VI. 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.

Completed:
ASSETS
Cash or Market Value
Cash deposit toward purchase held by:
$

List checking and savings accounts below

Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Name and address of Bank, S&L, or Credit Union
Acct. no.
$
Stocks & Bonds (Company name/number & description)
Life insurance net cash value
Face Amount :
Subtotal Liquid Assets
Real estate owned (enter market value from schedule of real estate owned)
Vested interest in retirement fund
Net worth of business(es) owned (attach financial statement)
Automobiles owned (make and year)
Other Assets (itemize)
Total Assets

Liabilities and Pledged Assets. List the creditor’s name, address and account number for all
outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony,
child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities
which will be satisfied upon sale of real estate owned or upon refinancing of the subject property.
LIABILITIES
Monthly Payment & Months Left to Pay
Unpaid Balance
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Name and address of Company

Acct. no.

$ Monthly Payment

Months left to pay
$
Alimony/Child Support Payments Owed to:
$

Job-Related Expense (child care, union dues, etc.) :
$

Total Monthly Payments
$

Net Worth (a minus b)
$
Total Liabilities b
$

Schedule of Real Estate Owned (If additional properties are owned, use continuation sheet.)
Property Address (enter S if sold, PS if pending sale or R if rental being held for income)
Type of Property
Present Market Value
Amount of Mortgages & Liens
Gross Rental Income
Mortgage Payments
Insurance, Maintenance, Taxes & Misc.
Net Rental Income
Totals
List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s):
Alternate Name
Creditor Name
Account Number

VII. DETAILS OF TRANSACTION
VIII. DECLARATIONS
a. Purchase Price
b. Alterations, improvements, repairs
c. Land (if acquired separately)
d. Refinance (incl. debts to be paid off)
e. Estimated prepaid items
f. Estimated closing costs
g. PMI, MIP, Funding Fee
h. Discount (if Borrower will pay)
i. Total costs (add items a through h)
j. Subordinate financing
k. Borrower’s closing costs paid by Seller
l. Other Credits (explain)
m. Loan amount
(exclude PMI, MIP, Funding Fee financed)
n. PMI, MIP, Funding Fee financed
o. Loan amount (add m & n)
p. Cash from / to Borrower
(subtract j, k, l & o from i)

If you answer “Yes” to any questions a through i, please use continuation sheet for explanation.
Borrower
Co-Borrower
a. Are there any outstanding judgments against you?
b. Have you been declared bankrupt within the past 7 years?
c. Have you had property foreclosed upon or given title or deed in lieu thereof
in the last 7 years?
d. Are you a party to a lawsuit?
e. Have you directly or indirectly been obligated on any loan which resulted in
foreclosure, transfer of title in lieu of foreclosure, or judgment?
f. Are you presently delinquent or in default on any Federal debt or any other
loan, mortgage, financial obligation, bond or loan guarantee?
g. Are you obligated to pay alimony, child support, or separate maintenance?
h. Is any part of the down payment borrowed?
h. Is any part of the down payment borrowed?
i. Are you a co-maker or endorser on a note?
j. Are you a U.S. citizen?
k. Are you a permanent resident alien?
l. Do you intend to occupy the property as your primary residence?
If “Yes,” complete question m below.
m. 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)?

IX. 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 electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously 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 as an “electronic record” containing my “electronic signature,” as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile 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 acknowledges 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
Co-Borrower’s Signature
X. 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 applicable state law for the particular type of loan applied for.)
BORROWER
Ethnicity:
Race:
Sex:

BORROWER
Ethnicity:
Race:
Sex:
To be Completed by Loan Originator:
This information was provided:

Loan Originator’s Signature
Date
Loan Originator’s Name (print or type)
Loan Originator Identifier
Loan Originator’s Phone Number (including area
code) 866-315-4700
Loan Origination Company’s Name
MGM Lenders, Inc
Loan Origination Company Identifier
Loan Origination Company’s Address
1912 N. Broadway, Suite 102 Santa ana, CA 92706

Continuation Sheet/Residential Loan Application

Use this continuation sheet if you need more space to complete the Residential Loan Application. Mark B for Borrower or C for Co-Borrower.

Borrower
Co-Borrower
Agency Case Number
Lender Case Number


Speak To A Loan Advisor


Your Name*


Phone/Mobile*


Language


Borrower Form


First Name*


Last Name*


Phone/Mobile*


Property Address*


Estimated Property Value*


Owed Amount*


Type of Loan*