Section 5: Declarations

5a. About this Property and Your Money for this Loan

C. Are you borrowing any money for this real estate transaction (e.g., money for your closing costs or down payment) or obtaining any money from another party, such as the seller or realtor that you have not disclosed on this loan application? This may include a rebate of realtor commission on or after closing or guaranteed cash payments from the seller.

D. 1. Have you or will you be applying for a mortgage loan on another property (not the property securing this loan) on or before closing this transaction that is not disclosed on this loan application? You must disclose all applications for mortgage credit for another property made with another Lender or creditor during the mortgage process.

E. Will this property be subject to a lien that could take priority over the first mortgage lien, such as a clean energy lien paid through your property taxes (e.g., the Property Assessed Clean Energy Program)? You must disclose if there are or will be any energy liens on the property you are purchasing or refinancing that you pay or will repay through your property taxes. (This question is not asking about standard real estate property taxes or homeowners’ association liens.)

5b. About Your Finances

F. Are you a co-signer or guarantor on any debt or loan that is not disclosed on this application? A co-signer is jointly liable on any debt or loan; a guarantor is only liable if the primary Borrower cannot pay.

H. Are you currently delinquent or in default on a Federal debt? You must disclose if you are delinquent or in default on any debt owed to the Federal government (for example, a Federally-backed student loan, FHA loan, USDA Rural Development loan, Veterans’ Administration loan).

J. Have you conveyed title to any property in lieu of foreclosure in the past 7 years? You must disclose if a property for which you were on title was conveyed through a deed in lieu of foreclosure in the past 7 years, even if you were not responsible for repayment of the mortgage loan.

M. Have you declared bankruptcy within the past 7 years? Check the box next to each applicable bankruptcy type, if applicable

Related Topics:                                                           Sections of Uniform Residential Loan Application

Section 1 : Borrower Information               Section 2: Financial Information - Assets and Liabilities               Section 3: Financial Information - Real Estate               Section 4: Loan and Property Information               Section 5: Declarations               Section 6: Acknowledgements and Agreements               Section 7: Military Service               Section 8: Demographic Information               Section 9: Loan Originator Information

Related to Uniform Residential Loan Application:                    

Additional Borrower Application, if applicable          Continuation Sheet, if applicable          Unmarried Addendum, if applicable

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