Get Co - Net Tangible Benefit Form - Michigan Mutual

Completing the CO - Net Tangible Benefit Form is a crucial step in securing a mortgage loan that offers genuine advantages. This guide provides clear instructions to assist you in filling out the form accurately and efficiently online.

Follow the steps to fill out the form with ease.

1. Click the ‘Get Form’ button to access the CO - Net Tangible Benefit Form and open it in your preferred editing tool.
2. Begin by entering the borrower name and co-borrower name in the designated fields. This information is essential for identifying all parties involved in the loan.
3. Fill in the property address for the residential real estate involved in the transaction. Ensure that the address is complete and accurate.
4. Enter the mortgage loan originator's name and their license number. This identifies the individual responsible for the mortgage process.
5. Include the date on which you are filling out this form. This is typically found at the top section of the form.
6. Review the section discussing the reasonable, tangible net benefit. Familiarize yourself with the criteria presented to understand what constitutes a valid benefit.
7. Select the applicable transaction type (purchase or refinance) and check all applicable benefits that the new loan will provide. This includes benefits such as lower interest rates, lower monthly payments, and other key factors.
8. Consider the additional factors listed regarding the new loan. This includes features like negative amortization, adjustable rate loans, and your financial ability to repay the loan based on your disclosed income.
9. Use the provided space to describe any additional reasonable, tangible net benefits not already covered in the form.
10. Certify your understanding of the document by signing where indicated as the borrower and co-borrower. Ensure that the date is also included next to your signatures.
11. Finally, have the mortgage loan originator sign in the corresponding section, confirming that they agree the proposed loan offers a reasonable, tangible net benefit.
12. Once all fields are completed and verified for accuracy, save your changes, then download, print, or share the completed form as necessary.

Take the next step in your mortgage journey by completing the CO - Net Tangible Benefit Form online today.