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  • Freddie Mac Form 710 Mortgage Assistance Application - Statebridge

Get Freddie Mac Form 710 Mortgage Assistance Application - Statebridge

Loan number: Mortgage Assistance Application ... this application, please contact Statebridge Company at 866-466-3360. For a list of ... Freddie Mac Form 710.

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How to fill out the Freddie Mac Form 710 Mortgage Assistance Application - Statebridge online

This guide provides detailed instructions on how to complete the Freddie Mac Form 710 Mortgage Assistance Application - Statebridge online. Whether you are facing mortgage payment challenges or seeking assistance, this step-by-step approach will make the process clearer and more manageable.

Follow the steps to complete your mortgage assistance application effectively.

  1. Click the ‘Get Form’ button to access the form and open it in your preferred online editor.
  2. Fill in the borrower information section carefully. Include the borrower's name, the last four digits of their Social Security number, and their email address, along with primary and alternate phone numbers. Check the boxes that correspond to your preferred contact methods.
  3. Complete the co-borrower information with the same level of detail as for the primary borrower, ensuring that you include names, contact details, and status of military duty if applicable.
  4. In the property information section, provide the property address. Indicate if the property is your primary residence, a second home, or an investment property. Select whether the property is owner-occupied, renter-occupied, or vacant and indicate your intentions regarding the property.
  5. Detail your hardship information by indicating when the hardship began and if it is considered short-term or long-term. Select applicable hardship types and prepare to submit any required documentation for each type selected.
  6. List all sources of borrower income in the designated fields. Provide documentation where required, including recent pay stubs or bank statements for verification of income.
  7. Document current borrower assets, ensuring to exclude retirement accounts. Fill in the specified amounts for checking accounts, savings, and other investments.
  8. Read through the borrower certification and agreement section carefully. Ensure you understand the statements made and provide your signature along with the date. If applicable, have the co-borrower sign as well.
  9. After completing the form, save the changes, and consider downloading or printing it for your records. You may also share the form as necessary.

Complete your Freddie Mac Form 710 Mortgage Assistance Application online today to receive the assistance you need.

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Credit score: Fannie Mae requires a FICO credit score of at least 620 for fixed-rate mortgages and at least 640 for adjustable-rate mortgages. Freddie Mac asks for a minimum credit score of 620. Down payment: You will need a down payment of at least 3%.

There are a variety of 3-percent-down mortgage programs available via Fannie Mae and Freddie Mac. Requirements vary, but expect to need a credit score of at least 620-660 and a debt-to-income ratio below 45 percent. You will typically need to occupy the home as your primary residence.

Form 710 is a Borrower's application for Mortgage assistance due to financial hardship.

Borrower Response Package Consists of: • Signed copy of Instructions, and disclosures • A completed and signed Mortgage Assistance Application • income/Asset documentation • Hardship documentation • IRS Form 4506-T Request for Transcript of Tax Return(s) signed by the borrower(s).

There are several requirements: The owner/investor of your loan has to be Fannie Mae or Freddie Mac. ... This is for low-income borrowers. ... You need to have a DTI ratio of 65% or less. ... You have to be current on your mortgage. ... This must be a 1-unit primary residence. ... Your loan has to be a certain age.

Fannie Mae and Freddie Mac Requirements Debt-to-income (DTI) ratio as high as 43% or 50% in some cases. Credit score of at least 640 or 620 in some cases. Down payment as low as 3% No recent major derogatory credit factors, such as foreclosure, short sale, bankruptcy or repossession.

The Mortgage must have a minimum Indicator Score of 620. If no Borrower has a usable Credit Score, then the Mortgage does not have an Indicator Score and is not eligible for delivery to Freddie Mac.

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