Mayor S Office of Housing and Community Development (Mohcd) s1

MAYOR’S OFFICE OF HOUSING AND COMMUNITY DEVELOPMENT (MOHCD) BMR PROGRAM LENDER CLOSING CHECKLIST (BMR ONLY, NO DALP)

INSTRUCTIONS: This form must be completed and signed by a participating MLO or Broker who has attended and completed the MOHCD DALP, MCC and BMR lender training. SUBMITTED BY: DATE:

TELEPHONE: EMAIL:

BANK|LENDER:

ADDRESS: MORTGAGE LOAN BROKERS MUST WRITE THE FUNDING LENDER NAME / ADDRESS:

1. BORROWER(S) LEGAL NAME AS IT WILL APPEAR IN FINAL FORM ON LOAN AND TITLE: NAME: FICO SCORE NAME: FICO SCORE NAME: FICO SCORE

NAME AS IT WILL APPEAR ON TITLE AND MANNER IN WHICH TITLE WILL BE VESTED: (TENANTS IN COMMON IS NOT ALLOWED) (All household member 18 years-old or older who are not declared as dependent on another applicant’s Federal Income Tax Return must be on the Loan and Title). Review BMR purchase approval letter. HOUSEHOLD CURRENT GROSS MONTHLY INCOME: $ TOTAL CASH ASSETS, EXCLUDING RETIREMENT ACCTS $ 2. BMR PROPERTY ADDRESS AND INFORMATION: Street: Unit: Zip: Block #.: Lot #.: Square feet: # Bedrooms: # Baths: Parking Space # 3. REQUIRED SUBMISSION DOCS (pdf format only). Form 1008 – Underwriting Summary Form 1003 – Residential Loan Application, Escrow Docs – Preliminary Title report, Wire Signed and dated by MLO and borrowers Instructions, Escrow Deposit Receipt Credit Report – Borrower signed explanation Purchase Agreement – ratified contract with and document any mortgage accounts showing all addendums Income – 3 consecutive recent paystubs, 3 yrs Appraisal – Must be Fair Market Value W2s, 1099s, & 1040s, VOE for all borrowers, [APPRAISAL MUST NOT REFLECT BMR For Self-Employed – sign and dated YTD P&L SALES PRICE AS VALUE] Tax Transcripts & 4506T – 3 yrs transcripts for First Time Homebuyer Certificate all Borrowers and 3 yrs listed on 4506T ID – CDL, Passports for all borrowers Assets - 3 mos most recent statements, LOE Estimated Settlement Statement – Combined and source of deposit more than $500 (other Master Statement showing BMR silent lien in than payroll), proof EMD cleared account, proof 2nd position with title insurance, Lender fees receipt of gift funds (if applicable) and impounds Gift – Completed gift letter(s), Donor’s current First Mortgage Conditional Loan Approval – bank statement with all terms & conditions Home Inspection Report MCC/TND Docs (if applicable) 4. LOAN INFORMATION: RATIO: TERM: Purchase Price: $ Closing Cost: $ First Mortgage Loan: $ % YR Loan Interest Rate [Must be Fixed Rate]: % Other Non-MOHCD Loan Program / Specify Source: $ % YR Borrower’s Down Payment – Must equal 5%: $ Additional Cash From Borrower: $ Front-end Debt-To-Income Ratio: % [Minimum 28% w/o DALP] Back-end Debt-To-Income Ratio: % [Must not exceed 45% w/out DALP] CLTV [Must not exceed 95%]: % MONTHLY PAYMENTS: Principal & Interest Monthly Payment: $ Mortgage Insurance Monthly Payment (If any): $ HOA Monthly Payment: $ Estimate Monthly Hazard Insurance: $ Estimate Monthly Taxes: $

1 South Van Ness Avenue, 5th Floor, San Francisco, CA 94103 – Phone: (415) 701-5500 – Fax: (415) 701-5501

Revised January 2018 MAYOR’S OFFICE OF HOUSING AND COMMUNITY DEVELOPMENT (MOHCD) BMR PROGRAM LENDER CLOSING CHECKLIST (BMR ONLY, NO DALP)

5. TITLE | ESCROW | SALES PERSON | APPRAISAL INFORMATION: Escrow Officer: Phone: Address: Email: Escrow No.: Wire Instructions Y/N: Fair Market Value: $ Appraisal Report Date: Appraisal Valid Until: Sales Agent Name: Phone: Email: Cellular:

6. PURCHASE CONTRACT INFORMATION: Contract Ratification Date: Close of Escrow Date:

Comments:

I certify that I have verified all information contained in this application and meets MOH lender guidelines. I confirm that all applicants are eligible for the BMR program. I acknowledge that any inaccurate or incomplete information may delay the review and processing of this file or result to disapproval. Participating loan officer or broker signature:

1 South Van Ness Avenue, 5th Floor, San Francisco, CA 94103 – Phone: (415) 701-5500 – Fax: (415) 701-5501

Revised January 2018