Ferris Financial Group, Inc. Pre-Qualification Home Loan Application

Pre-Qualification Home Loan Application

If you are interested in FINANCING or REFINANCING, follow the directions below so we can review your information. No emails please. When we receive this information we can give you a credit decision within 24 to 48 hours from the receipt of your application. Determine now how much you can borrow and buy.

If you need assistance with this application please email or call:
Phone: (800) 844-0623 (toll-free)
Main Office: (925) 828-1306
Fax: (925) 803-8155 (available 24 hours a day)

Business Hours:
Mon-Fri: 9 am to 7 pm
Saturday: 9 am to 6 pm
Sunday: 11-5 pm

Document Instructions

By properly completing your loan application the loan process will be expedited. The list below will assist you in locating the proper paperwork you will need for your loan submission.

First, please complete and sign the residential Loan Application and the other loan information forms and Borrower Signature Authorization form you will find below. in case you need additional space for your assets or liabilities, please list on a separate continuation sheet.

Note: Do not use corrective tape or white-out if you make a mistake on the application. Cross the mistake out, make the change and add your initials at each such change.

For those that collect a salary please provide a copy of your W-2's for the previous two years and one months worth of pay stub copies. Self-employed applicants, please provide copies of your tax returns for the previous two years to include all schedules and a YTD profit and loss statement. Do not provide original documents.

For applicants that own rental property, we will need copies of recent rental agreements as well as tax returns for the previous two years, including all schedules.

As the borrower, if you have filed bankruptcy please provide the Schedule of Creditors, Filing and Discharge Notice.

Provide a letter explaining how you will use the refinance proceeds if you are requesting a cash out refinance.

To expedite your approval process, provide recent statements for stock, mutual funds and IRA/401K accounts and bank statements for the most recent three months.

For those who are NOT a US citizen, provide a copy of your green card (front & back) and if you are NOT a permanent resident, provide a copy of your H-1 or L-1 visa.

If applying for a home equity line of credit or loan (second loan), also include your first mortgage note. (This paperwork should be with your closing loan documents.)

If you are divorced, provide a copy of your divorce decree and settlement agreement.

There are a few different ways you can apply:

If you are ready to apply now, while on line, fill out the forms below with your information, then print your completed form by scrolling down to the bottom of this page and click on the "Print this Page" button. All forms will print. This will take about five to fifteen minutes. Fill in any further information you may want to add by hand, sign the Borrowers Signature Authorization form below. Once this is done, fax to us at 925-803-8155 and we will have one of our loan officers contact you.

We can also take the application over the phone if this method is more convenient, without you filling out these forms.

Download our Loan Application.  As best you can, complete it, then mail or fax it to us. Once we receive it, we will contact you.

New Loan Questionnaire

Where did you hear about us? or other

Loan purpose?:*

What's the value of the property?:* $

What's the loan amount applied for?:* $ or % Down payment

Will there be a co-borrower?* Yes   No

What state are you looking for a loan?*

Are you an owner of any real estate at this time?* No Yes, I own  properties

Rate your credit.* Excellent
OK, but some problems
Major credit problems
Don't know

Contact Information

What is your full legal name including Jr. or Sr. if applicable.

First Name:* Middle Name: Last Name:*

Work phone number: -  -

Home phone number:* -  -

Mobile phone number: -  -

When can we call?:

Email address:*

Where is the home or property located?

Street Address:* What property type?:*

City:*                     State:*                  Zip:* Property will be used as:*

If you are interested in finding out if now is the right time for you to Refinance your home to lower your monthly payments, pay off your mortgage faster, take cash out, or combine your first and second mortgage. please fill out this questionnaire below.

Refinancing

Property information

1.	Where is your property located?

2.	What type of property is this?

3.	How will you use the property?

4.	What is the approximate value of the property?	$

Information about the requested loan

1.	What loan amount is requested?	$

2.	When approximately is your plan to sell or refinance?	years

3.	What is your financial goal?	Lowest Initial Monthly Payment
		Lowest Overall Cost

4.	Can you document your income?	Yes No

5.	What type of loan do you want?:

Tells us about your current loan

1.	What is your monthly payment now?		$

2.	When did you get this loan?

3.	Approximate how much is your outstanding balance?	$

4.	What interest rate do you have on your loan?		%

5.	For how long was the interest rate fixed on your current loan?

6.	Over what time is your loan amortized?

7.	Does your current loan have a pre-payment penalty?		Yes No

If you have an adjustable loan

1.	What loan index do you have?

2.	What loan margin do you have on your loan?	%

3.	What is the lifetime interest rate cap on your loan?	%

4.	Additional loan details:
	a. When was your first interest rate adjusted?	months after the start date

	b. Per period, what is the max. interest rate adjustment?	%

	c. How often does your loan adjust?

5.	Does the loan have negative amortization?	Yes No


Note: Questions in red text are required.

FERRIS FINANCIAL GROUP, INC.

A Clarion Mortgage Corporation Lender

P.O. Box 794 San Ramon, CA 94583

(800) 844-0623 or (925) 828-1306 Cell (925) 858-2879 Fax (925) 803-8155

Borrower Signature Authorization

Privacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program. It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approval as a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC. Chapter 3(if VA): by 12 USC, section 1701 et. Seq. (if HUD/FHA; by 42 USC, Section 14526 (id HUD/CPD; and Title 42 USC, 1471 et. Seq, or 7USC, 1931 et. Seq. (if USDA /FmHa).

1) Borrower (s) (Print) Social Security Number

_______________________________ ______________________________

2) Ferris Financial Group, Inc. P.O. Box 794 San Ramon, CA 94583

3) Date ________________________________

I hereby authorize the Lender / Broker to verify my past and present employment earning records, bank accounts, stock holdings and any other asset balances that are needed to process my mortgage loan application. I further authorize the lender / Broker to order a consumer credit report and verify other credit information, including past and present mortgage and landlord references. It is understood that a copy of this form will also serve as authorization.

The information the Lender / Broker obtains is only to be used in the processing of my application for a mortgage loan.

_______________________________________ ______________________

Borrower (Sign) Date

_______________________________________ _______________________

Borrower (Sign) Date