Refinance Questionnaire & Checklist

Please note that one major step in the completion of the final approval process depends upon receipt of the documents listed in this checklist. Failure to provide these documents in a timely manner can delay or cancel loan approval. Start today by making copies and placing the required documentation in a folder so that when your loan officer asks for it, you are ready.

Darius Jenkins Loan Officer 11325 Random Hills Rd, Suite 400 Fairfax, VA 22030 NMLS# 187399 (571) 419-6612 Darius@loansbydarius.com

LOAN QUESTIONNAIRE
Please provide the following answers for everyone on the loan

Type of property you are looking to refinance?

o o o

Primary Residence Second Home Investment Property

Number of people who will be on the loan?

o o o o

One Two Three or more If Property is a primary residence will everyone on loan be living in the property?

Employee Type & Income?

o o o o o o o o o

Full Time Employee Part Time Employee W2 Employee Self Employed Salary Income Hourly Income Commission Income Bonus Income Rental Income

Secondary Income or Payments?

o o o o

Receive Alimony (Court Ordered) Receive Child Support (Court Ordered) Pay Alimony (Court Ordered) Pay Child Support (Court Ordered)

Down Payment?

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612

Are you willing to bring money to the settlement table if necessary due to the property value being less than the present balance?

REFINANCE DOCUMENTATION REQUIREMENTS

Please provide these documents > Financial statements must include your name, account number (or partial number), and the name of the financial institution. > Please make sure all documents are legible. If you cant read the copies then odds are neither can we.

Please Provide Copies of the Following: Proof of Identification:

Copy of Drivers License or Passport or Appropriate VISA

Make sure the copy is legible and not too dark. It helps to enlarge the image on a copier if you are providing your drivers license. *Depending on your residency status additional documentation may be required. (Note: You may be asked for a copy of your Social Security Card)

Income & Finances:

Conventional / FHA or VA loans, please provide

Two years most recent tax returns (please sign and date page 2 of the returns). (NOTE: If you are applying for a VHDA loan (Virginia Housing Development Program) you must provide 3 years tax return).

o o

If you are salary, hourly, or C Corp employee

provide W2 Forms for the previous two years.

If you are self-employed provide the previous 2 years tax returns (all pages and schedules, signed and dated). In addition, a year-to-date profit and loss statement may be required. Also, include a copy of your business license.

If you receive a 1099 you are viewed as a self-employed borrower and will be asked to provide
that category of documentation

If you are an S Corp or Partnership provide business tax returns and K1s
**(Self-employed income will be calculated using gross income after expenses as claimed on tax returns)

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612

o o o

If you have ownership interest in a Corporation or Partnership exceeding 25%, please provide business tax returns for the past two years, all schedules - including a profit and loss statement and a corporate balance sheet. Income from Alimony / Child Support must be court ordered. Please provide copies of legal papers (include all pages), and proof of receipt of those payments for a minimum of 3 months. In order to use part-time income, you must have been working part-time for a minimum of 2 years at the same part-time job.

Pay Stubs:

o o o

Two most recent paystubs if paid once a month Three most recent pay stubs if paid bi-weekly Five pay stubs if paid weekly

Bank Statements: You must provide all pages ( Even if the last page is blank)

Two most recent bank statements for checking and savings accounts covering 60 consecutive days.

Online statements are acceptable and must include your name, account number, and the name of the financial institution. Online statements must be statements (typically the financial institution will have an online option where you can select to view/print the actual statement. Screen Shots are NOT acceptable and often do not have the customer name, account number and name of the financial institution)

Investment Accounts: You must provide all pages ( Even if the last page is blank)

Most recent statement(s) for investment accounts (Mutual Funds, Money Markets etc.)

If statements are received monthly, provide the two most recent statements. If statements are received quarterly, provide the most recent statement.

Retirement Accounts: You must provide all pages ( Even if the last page is blank)

Most recent statement for retirement accounts (401Ks, 403bs, Pensions, etc.)

If you are borrowing against your retirement accounts, please provide documentation explaining the terms of repayment, and statement(s) showing the withdrawal of funds. Note: only 60% of the retirement account(s) vested balance may be counted as assets toward your transaction.

If you are receiving Social Security Income copies of your most recent Social Security Award Letter

Properties: 4

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612

o o o o o

Provide mortgage statement(s) and home owners insurance declaration page for all properties you own. Provide copy of the HUD1 Statement from when you last refinanced or purchased the property (you should have received this at the settlement table). You may be asked to provide a copy of the Note. (you would have received this in your loan papers when you purchased the property or last refinanced. It should say NOTE at the top of the document) If the property(s) is paid off.

Provide deed, insurance declaration page, and property tax statement. Tax returns on rental properties are used instead of leases if you have been a landlord for 2 years Provide copies of all lease agreements Copy of the Note ( only 75% of rental income is counted as additional income)

Rental property

Insurance:

o Please provide a copy of your home owners insurance declaration page for all properties and contact info for
your insurance agent. Home Owner Associations: o If you pay a Home Owners Association Fee please provide amount of the monthly or quarterly fee, the name of the HOA and contact information.

College Transcripts:

o
Please Note:

If you have been employed less than 2 years due to being enrolled in school, please provide a copy of your official school transcripts.

As you receive new paystubs and financial statements during your home loan process please provide copies. With
the exception of any quarterly financial statements, the most recent statement(s) must be dated within 30 days of your settlement date.

Do not make any large purchases or bank withdrawals during the process. You may be asked by the Underwriter to
write a letter of explanation for all large withdrawals from your financial account(s). Do not make large deposits that are not paycheck deposits without contacting your lender first. If you are transferring money please provide documentation of the transfer from both accounts. Do not take out any loans from the time of your application until after the time you settle. Payments against any new loans will be counted in your debt to income ratio and could make you ineligible for a loan.

Do not apply for new credit during you transaction process. Lenders are monitoring a borrowers credit for
inquiries. If there is an inquiry into your credit during the transaction process an inquiry letter will be provided for you to complete.

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612

Third Party Charges Paid Before Settlement There may be third party charges you will be asked to pay prior to your settlement. Therefore, you will be asked to complete a credit card payment form. (If you are unable to pay by credit card other payment arrangements may be available). These third party charges may be the following:

Appraisals: o Appraisers do not work for the lender. They are an independent third party. Appraisals can only be ordered 3
days after a borrower has received their initial disclosures, or if disclosures are signed in person or emailed to you an appraisal can be ordered that day. The appraisal management company will require payment upfront prior to the appraiser appraising the property. Note: The appraiser may charge more for Investment properties.

Condos & PUDs (Home Owner Associations): o Condos must be approved by Fannie Mae if you are using a conventional loan, FHA approved if you are using
an FHA loan, or VA if you are using a VA loan. A condo questionnaire may be required to be filled out by the condominium property management company. A condo association budget sheet may required, along with a certificate of insurance on the condominium. Each condo property management company provides this information differently. Some will provide it free of charge. Others will provide it for a fee. These fees can run $25 - $300 or more depending on the property management company.

o PUDs are townhomes or single family residences in a Planned Urban Development and require home owners
association dues. A copy of the Certificate of Insurance for the association must be provided. This is ordered by the lender from the property management co. The property management co may send this certificate free of charge or they may charge you for the delivery. That charge can run $25 - $50 or more depending on the property management company.

Insurance: o You must have home owners insurance on the property. If you presently do not have it you will be required to
purchase the insurance. (Home owners insurance carrier is not selected by your lender. You are responsible for selecting your home owners insurance company. Some lenders require that the premium be paid prior to settlement).

o If you are refinancing a condo, you will be required to purchase insurance if you do not presently have it. Some
lenders require that the premium be paid prior to settlement.

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612

Licensed by the Virginia State Corporation Commission as McLean Mortgage Corporation. State License #MC-5215, NMLS #99665

Darius Jenkins Sr. Loan Officer McLean Mortgage Co., 11325 Random Hills Rd., Suite 400 Fairfax, VA 22030 Darius@loansbydarius.com / (571) 419-6612