Instructions:
Read the entire form before you start filling it in. You may
need to collect some information to complete
the form. Some fields are optional. If the form will not
submit when you click on the submit button, that means that some of
the required information is missing. You will be
prompted to supply the missing information.
BORROWER:
(first
last)
BORROWER'S SOCIAL SECURITY #:
CO-BORROWER:
(first
last)
CO-BORROWER'S SOCIAL SECURITY #:
YOUR
EMAIL ADDRESS
Please enter
a VALID
email address, since your
confirmation
and further
instructions will be emailed
to this
account and no where
else.
TELEPHONE :
Home:
PROPERTY
ADDRESS:
(You must have a
subject property
address to lock in.
For purchases
this property must be
under agreement)
Street Address
City
State Zip
APPLICATION
STATUS:
Select one of
the following options:
Rate Lock for a Loan In Process (RLIP)
Rate Lock for a New Loan Not In Process (RLNIP)
Float Loan - Do NOT Lock YET
THIS IS AN AMENDED RATE LOCK
CUSTOMER
STATUS:
New Customer
Returning Customer (LESS than THREE months)
Returning Customer (THREE TO SIX months)
Returning Customer (MORE than SIX months)
REFERRAL SOURCE:
Friends
Relatives
bankrate.com
hsh.com
boston.com rate table
Google Search
Newspaper Rate Table
Television Commercial
WSJ real estate guide
moneycentral.msn.com
Equifax
Move.com
Metro Mortgage Guide
realtor.com
Real Estate Journal
Channel 5 website
Radio ad
Newspaper Ad
Other
refer red
by:
TYPE OF TRANSACTION:
Purchase
Rate & Term Refi
Cash-Out Refi
Pre-approval
Pre-qualification
Spousal Buy-out
TYPE
OF LOAN:
Full Documentation
No Income Verification
No Ratio
No Asset
No Employment
OCCUPANCY:
Primary Residence
Second Home
Investment Property
STRUCTURE:
First Mortgage
Combo With Fixed Second
Combo with Credit Line
Second Mortgage
Line of Credit
TYPE
OF PROPERTY:
1 CONDO
1 Family
2 family
3 family
4 family
ESCROWS:
Do Not Waive Escrows (No Fee)
Waive Escrows (3/10th pt Fee Required)
All of our loans require that you escrow for
taxes and insurance.
If you do NOT wish to escrow,
you will be charged an additional
one-time
fee of .300 of a point to
WAIVE escrows.
PROPERTY
VALUE:
enter
digits only (no punctuation)
If this is a
purchase, you MUST use the purchase price from the
purchase & sales agreement.
If this is a refinance,
use the current market value of property.
LOAN
AMOUNT:
enter
digits only (no punctuation)
If
you are requesting a combo mortgage enter ONLY the first mortgage
amount here!
Please Note:
ENTER THE AMOUNT YOU WANT TO BORROW IN THIS TRANSACTION
NOT THE AMOUNT OF YOUR PREVIOUS MORTGAGE.
If you are asking us to
compute the closing costs, do NOT inflate your loan amount to cover
the anticipated closing cost fees.
.
CLOSING
COSTS:
We Will Pay Closing Costs Separately
Please Add Closing Costs to Loan Amount
Requested Loan Amount Includes Closing Costs
No Closing Cost Option
Please Note:
You CANNOT roll closing costs into the mortgage amount on a
purchase. That option is only available on refinance
transactions.
TERM
OF THE MORTGAGE:
30 Yr Fixed
25 Yr Fixed
20 Yr Fixed
15 Yr Fixed
10 Yr Fixed
10/1 ARM
7/1 ARM
5/1 ARM
3/1 ARM
1/1 ARM
6 Month Interest Only
1/1 Interest Only
3/1 Interest Only
5/1 Interest Only
7/1 Interest Only
AMORTIZATION
PERIOD:
Amortization
Period:
If
you do not indicate an amortization period, we will use 360 months (30 year)
amortization.
360 Months
300 Months
240 Months
180 Months
120 Months
If you have chosen an
ARM, you may select any of the amortization periods listed
here, which will result in a lower total cost but a higher monthly
payment.
REQUESTED
INTEREST RATE:
ENTER
TOTAL POINTS
TO BE PAID HERE:
(enter
points in decimal: 1.5 not 1 1/2)
RATE
LOCK PERIOD:
15
30
45
60
70
90
120
180
On a
purchase, please be sure that your lock period extends
past your closing date on your purchase and sale
agreement. 15 day rate locks are available ONLY for
loans already in progress and approved by PHMC.
R
E
F
I
N
A
N
C
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S
O
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L
Y
REFINANCE SECTION: for
refinance transactions only
CURRENT
BALANCE - First Mortgage
We
must know both the original amount and the current balance on your
current mortgage.
Original
Loan Amount:
Current
Balance on Note:
EXISTING SECOND
MORTGAGE TYPE
If you have a
second mortgage now, even if you wish to consolidate it or refinance
with a new second, please provide the following information.
There
are two types of second mortgages, regular second mortgages and
home equity lines of credit. Please indicate whether you have a
regular second mortgage or a home equity line of credit.
No Second Mortgage on Subject Property
Regular Fixed Rate Second Mortgage
Home Equity Line of Credit
CURRENT
BALANCE - Second Mortgage
In
addition to the original and current balances of your second mortgage
or HELOC, we also need to know the credit limit or ceiling on your
line of credit.
Original
Balance of 2nd/HELOC:
Current
Balance of 2nd/HELOC:
for
HELOC mortgages only
HELOC
Credit Line Ceiling:
How
was Second Mortgage Used?
This is VERY
important. If you used a second mortgage or home equity line of
credit for ANY PURPOSE other than the original purchase of the
property, then this transaction will be considered a CASH OUT
transaction if you wish to roll the second mortgage or line of credit
into the new first mortgage.
NO 2nd or HELOC on This Property
Credit line has NOT been used.
to PURCHASE property
to RENOVATE property
to PURCHASE and RENOVATE property
for OTHER purposes
How
to do you want to handle 2nd/HELOC
NOTE:
IF YOU HAVE A SECOND MORTGAGE OR HELOC YOU MUST CHOOSE TO EITHER PAY
IT OFF OR SUBORDINATE THE 2ND/HELOC TO THE NEW FIRST MORTGAGE.
THIS IS TRUE EVEN IF YOU HAVE A ZERO BALANCE ON YOUR HELOC.
(It is often cheaper
and faster to close your second mortgage and allow us to secure a new
second mortgage or line of credit....usually at the same or lower
rates!)
PLEASE NOTE:
THERE IS A FEE OF 1/4 POINT TO SUBORDINATE AN EXISTING 2ND MORTGAGE OR
LINE OF CREDIT. MAKE SURE YOU ADD .250 POINTS TO THE POINTS
SECTION
No 2nd Mtg or HELOC on this Property
Pay off 2nd or HELOC
Subordinate 2nd or HELOC (1/4 pt fee required)
We Will Close Unused HELOC
C
O
M
B
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O
A
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THIS SECTION IS FOR
INFORMATION ON THE TYPE OF SECOND MORTGAGE YOU WISH US TO OBTAIN FOR
YOU (not any existing 2nd mortgage)
SECOND
MORTGAGE AMOUNT:
A Combo or Piggyback
loan combines a first mortgage with a second mortgage. This
section gives us information about your second mortgage request, but
does not execute a lock on a second mortgage. To lock in a 2nd
mortgage, please fill out the form
here.
TYPE
OF NOTE:
PLEASE NOTE:
some second mortgage products are only available with specific first
mortgage programs. We will inform you if there is a conflict
between your first and second mortgage choices!
Home Equity Line of Credit
60 Month Fixed Rate
120 Month Fixed Rate
180 Month Fixed Second
180 Month Balloon (30 Year Amortization)
240 Month Fixed Second
300 Month Fixed Second
360 Month Fixed Second
C
O
N
D
O
S
O
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L
Y
Condo Transaction
Section: for transactions where
the subject property
is a condo
NUMBER OF UNITS:
Not a Condo
2-3
3-4
4-6
6-10
10-20
20+
NUMBER
OF FLOORS :
Not A Condo
1-4 Floors
5-8 Floors
9 and greater Floors
OWNER
OCCUPIED RATIO:
Not A Condo
Under 20%
20-40%
40-50%
50-60%
Over 60%
Percentage
owned by any one person or company :
Not A Condo
Under 20%
20-40%
40-60%
60-80%
Over 80%
P
U
R
C
H
A
S
E
S
To order
you appraisal, we need information about
the selling broker contact information
BROKER COMPANY:
AGENT:
CONTACT
NUMBERS:
PROPOSED
CLO SING
DATE:
enter the date listed on the Purchase & Sale Agreement
CURRENT
HOME ADDRESS:
Street Address
City
State Zip
Comments?
Use this
area to let us know about any special circumstances that affect this
rate lock. You can also ask any questions you might need to
clarify here.
STOP: READ THIS BEFORE YOU SUBMIT
When you submit this form,
you are requesting that we lock in a loan on your behalf. When
we lock in a loan, you cannot change the interest rate or the number
of days in the rate lock period. If you withdraw from the loan
after you cancel, you will have wait 45 days after the expiration of
the rate lock before you can re-lock with the same investor.
Please do NOT lock in if you are not ready to accept these terms and
conditions.
I
have read, understand and accept the rate lock rules
Yes
No
When
you click this button, you should see the results within 30
seconds. STOP, read the summary of your rate lock and if you
wish to make changes, USE THE BACK BUTTON ON YOUR BROWSER to return to
this form. Do NOT click on the hyperlink that says "click
here to return to the form" because that will erase the work you
have already done.
