Editable 1008 Form – Fill Out and Use This PDF

Borrower Name________________________________________________________________________

Occupancy Status

Sales Price$______________________

Total # of Borrowers____________________

 Primary Residence

Appraised Value $__________________

Property Address_______________________________________________________________________

 Second Home

 Investment Property

Property Type

Project Classification

 1 unit

Freddie Mac

Fannie Mae

 2 units

 Streamlined Review

 E Established PUD Project

Property Rights

 3 units

 Established Project

 F New PUD Project

 Fee Simple

 4 units

 New Project

 P Limited Review - New Condo Project

 Leasehold

 Condominium

 Detached Project

 Q Limited Review - Established Condo Project

 PUD

 Co-op

 2- to 4-unit Project

 R Full Review - New Condo Project

 Manufactured Housing

 Exempt from Review

 S Full Review - Established Condo Project

 Single Wide

 Multiwide

 Reciprocal Review

 T Fannie Mae Review through PERS - Condo Project

 U FHA-approved Condo Project

 V Condo Project Review Waived

 1 Full Review - Co-op Project

 2 Fannie Mae Review through PERS - Co-op Project

Project Name_______________________________________________

Fannie Mae Condo Project Manager™ Project ID# (if any) __________________________________________

II. Mortgage Information

Loan Type

Amortization Type

Loan Purpose

Lien Position

 Conventional

 Fixed-Rate—Monthly Payments

 Purchase

 First Mortgage

 FHA

 Fixed-Rate—Biweekly Payments

 Cash-Out Refinance

Amount of Subordinate Financing

 VA

 Balloon

 Limited Cash-Out Refinance (Fannie)

$ __________________________

 USDA/RD

 ARM (type)

 No Cash-Out Refinance (Freddie)

(If HELOC, include balance and credit limit)

 Other (specify)

 Home Improvement

 Second Mortgage



 Construction Conversion/Construction to Permanent 

Note Information

Mortgage Originator

Temporary Buydown

Loan Amount $_____________

 Seller

 Yes

Note Rate ___________________ %

 Broker

 No

Loan Term (in months) ______________

 Correspondent

Terms _________________

Broker/Correspondent Name and Company Name:

III. Underwriting Information

Underwriter’s Name

Appraiser’s Name/License #

Appraisal Company Name

__________________________________________

____________________________________________________

________________________________________________________________

Stable Monthly Income

Proposed Monthly Payment for the Property

Borrower 1

$_____________

First Mortgage P&I

$____________________

Borrower 2

$_____________

Subordinate Lien (s) P&I

$____________________

Borrower 3

$_____________

Loan-to-Value Ratios

Homeowner’s Insurance

$____________________

Borrower 4

$_____________

LTV________________%

Supplemental Property Insurance

$____________________

Other Borrowers (5+)

$_____________

CLTV/TLTV__________%

Property Taxes

$____________________

Rental Income - subject property

$_____________

HCLTV/HTLTV________%

Mortgage Insurance

$____________________

Net Rental Income - other properties

$_____________

Association/Project Dues (Condo, Co-Op, PUD)

$____________________

Total Borrower Income

$_____________

Other

$____________________

 At least one borrower is self-employed

Total

$____________________



Level of Property Review

Qualifying Ratios

 Exterior/Interior

Primary Housing Expense/Income

__________%

 Exterior Only

All Other Monthly Payments Used in Qualifying

$____________________

Total Obligations/Income(DTI)

__________%

 No Appraisal

Form Number__________

Borrower Funds to Close

Qualifying Rate

Required

$____________________

 Rate Used for Qualifying

__________%

Escrow (T&I)  Yes  No

Verified Assets

$____________________

 Initial Bought-Down Rate

__________%

 Other

__________%



No. of Months Reserves__________________





Risk Assessment

Interested Party Contributions______________%

 Manual Underwriting

 AUS

Affordable Housing Initiative

Homeownership Education Certificate in File

 DU  LPA  Other

 Yes  No

 Yes

 No

AUS Recommendation

SELLER NAME_____________________________________

CONTACT NAME________________________________

CONTACT PHONE NUMBER________________

SELLER ADDRESS___________________________________

CONTACT TITLE_________________________________

___________________________________

_______________________________________________

SELLER NO_______________________________________

INVESTOR LOAN NO______________________________

SELLER LOAN NO___________________________________

Freddie Mac Form 1077 12/18

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Fannie Mae Form 1008 12/18