OnlineNursingOwl
← All nursing posts

Social Science · Studypool

Real Estate response

Post ID: 3095231

ACTIVITY: Final Paper Part 4 (Loan Application)

Now, you are ready to complete your 1003 Loan application! This is the industry standard Uniform Residential Loan Application (URLA) published by the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac. It’s time to learn new skills by completing this form. It must be typed, not hand-written. To complete this assignment, you will need the standard 1003 Mortgage Loan Application. A sample completed form is provided at the end of this assignment. Scroll down for my demonstration video!

Instructions

Using the Borrower Mortgage Profile Data sheet, complete the 1003 Mortgage Loan Application for your prospective borrowers using the mock data. Complete all fields on pages 1-4 of the loan application form. Note that in some of the fields, you will need to use your critical thinking to calculate the answers. On the PDF document, complete each of the following sections:

NOTE: You will need to TYPE the Borrower and Co-Borrower NAMES at the top of PAGE 1 as there is not a fill-able field.

  1. Type of Mortgage and Terms of Loan
  2. Property Information and Purpose of Loan
  3. Borrower Information
  4. Employment Information
  5. Monthly Income and Combined Housing Expense Information
  6. Assets and Liabilities
  7. Details of Transaction
  8. Declarations
  9. Acknowledgment and Agreement
  10. Information for Government Monitoring Purposes

NOTE: Please TYPE the Borrower and Co-Borrower NAMES at the bottom of PAGE 4 and also insert Master Muhammad name as the mortgage lender.

Blank Fillable 1003 Loan Application Form

USE A FILLABLE 1003 FORM, click below to access the application form and the mock data. NOTE: if you use this form, you will need to type the borrower and co-borrower names on the first line of Page 1 because it does not have a fillable field. Download and SAVE to your computer or cloud drive before typing on the form. The form BELOW is a fillable PDF form and you can simply type into the fields. Use the mock data "BRE 126 Borrower Mortgage Profile Data". If you use this fillable 1003 form, you should not need to download PDF software.

NOTE: If the above form does not work as a fillable form, try using this blank (non-fillable) version and typing the responses on the pages using your PDF app. If you are using the blank 1003 form (non-fillable), you will be typing on the PDF document, so make sure you have PDF software on your computer. The PDF app should allow you to type on the document and save it. Adobe Acrobat Reader DC is free and can be downloaded here: https://get.adobe.com/reader

Sample 1003 Loan Application

View a sample completed form as an example to help you get started. NOTE: the field layout is slightly different from the form you are going to complete.

My Demonstration Video

Take a few minutes to watch my demonstration video (below).

Step-by-Step Example Videos