Mortgage Loan Application
Thank you for your interest in First National Bank of Muscatine. Our general trade area is Muscatine County, Iowa and the surrounding contiguous counties. We welcome all applications from our designated market area.
Any married applicant may apply for a separate account. 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 will not be used as a basis for loan qualification, but his or her liabilities must be considered because 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.
I. Type of Mortgage and Terms of Loan
Mortgage Applied for: Conventional
Amount Requested: $
Number of Months: %
II. Property Information and Purpose of Loan
Subject Property Address (street, city, state & zip): Number of Units:
Legal Description of Subject Property Year built:
Purpose of Loan: Purchase Construction Refinance Construction-Permanent Other (explain):
Property will be: Primary Residence Secondary Residence Investment
Complete this section if construction or construction-permanent loan.
Year lot acquired:
Original Cost $
Amount existing liens $
(a) Present value of Lot $
(b) Cost of improvements $
Total (a + b) $
Complete this section if this is a refinance loan.
Year acquired:
Purpose of Refinance
Describe improvements made to be made Description: Cost: $
Title Informaton
Manner in which Title will be held?
Estate will be held in: Fee Simple Leasehold
Source of Down Payment, Settlement Charges and/or Subordinate Financing (explain).
III. Borrower Information
BORROWER
CO-BORROWER
Name :
Co-Borrower's Name :
Social Security Number:--
Home Phone: --
Age: Yrs. School:
Marital Status: Married Separated Unmarried (include single, divorced, widowed).
Number of Dependents: (not listed by Co-Borrower) Ages of Dependents:
Number of Dependents: (not listed by Borrower) Ages of Dependents:
Present Address:
City/State/Zip:
How Long?
Do you: Own or Rent?
Previous Address:(if less than 2 years at present address)
Previous Address: (if less than 2 years at present address)
Did you: Own or Rent?
How long?
IV. Employment Information
Name and Address of Employer:
Self Employed? Yes No
Years on this job:
Years employed in this line of work/profession:
Position/Title/Type of Business:
Business Phone: --
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
Dates: from to
Monthly Income: $
V. Monthly Income and Combined Housing Expense Information
GROSS MONTHLY INCOME
Borrower
Base Empl. Income*
$
Overtime
Bonuses
Commissions
Dividends/Interest
Net Rental Income
Other (before completing, see the notice in "describe other income" below)
Total (a)
* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.
Co-Borrower
Total (b)
TOTAL GROSS MONTHLY INCOME
(Total a + Total b):
Describe Other Income
Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower or Co-Borrower does not choose to have it considered for repaying this loan.
Other Income source:
Borrower or Co-Borrower?
Monthly Amount: $
Combined Housing Expense Information
Present
Proposed
Rent
First Mortgage (P&I)
Other Financing (P&I)
Hazard Insurance
Real Estate Taxes
Mortgage Insurance
Homeowner Assn. Dues
Other
Total
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 spouse, this Statement and supporting schedules must be completed about that spouse also.
Completed Jointly Not Jointly
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.
Cash or Market Value
Cash deposit toward purchase held by:
List checking and savings accounts below:
Name and address of Financial Institution
Account 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 a.
Name and Address of Company
Account Number:
Monthly Payment & Months Left to Pay $ / Months
Unpaid Balance: $