Get The Borrowers Worksheets

Filling out The Borrowers Worksheets can help determine whether a refinancing option is in the borrower's interest. This guide provides a step-by-step approach to successfully complete the worksheet online.

Follow the steps to accurately fill out The Borrowers Worksheets.

1. Click the ‘Get Form’ button to access the worksheet and open it in your preferred editor.
2. In the first section, input the lender's name, license number, and loan number. This information is crucial for identifying the loan transaction.
3. Enter the borrower's name(s) and the property address where the loan will be applied. Ensure all names are spelled correctly and the address is complete.
4. In the 'Loan Information' section, provide details for both the new and previous loans. Fill in the loan date, loan amount, loan term, and type of loan for each, selecting whether it is fixed, adjustable, or balloon.
5. Next, include the loan rate, payment amount, prepayment penalty provision, loan to value ratio, and debt to income level for both new and previous loans.
6. Clearly state the loan purpose, ensuring it is specific and relates to how the loan proceeds will be distributed.
7. Proceed to OPTION 1 and check all applicable criteria if the new home loan meets the requirements laid out. Provide explanations for how the loan satisfies these criteria.
8. If the criteria in OPTION 1 do not apply, proceed to OPTION 2. Evaluate factors that indicate how the refinancing serves the borrower's best interest and check all that apply.
9. Include explanations for how the new home loan complies with any checked factors in OPTION 2.
10. Complete the Lender Certification section by signing and dating the form. Print your name clearly, ensuring all information is accurately documented.
11. Once all sections are filled in, save your changes, and you may choose to download, print, or share the completed form as needed.

Start completing The Borrowers Worksheets online to ensure you take the right steps in your refinancing process.