A Borrower's Affidavit is a document executed by a borrower that certifies certain facts related to a loan or other transaction. The affidavit is intended to protect lenders from default. It typically states the borrower's financial condition, including assets, liabilities and income, as well as the borrower's authorization for the lender to verify the information provided in the affidavit. There are two main types of Borrower's Affidavits: Uniform Residential Loan Application Affidavit and Commercial Loan Affidavit. The Uniform Residential Loan Application Affidavit is used when applying for a residential loan and requires the borrower to provide their name, address, Social Security number, and other relevant information to the lender. The Commercial Loan Affidavit is used when applying for a commercial loan and requires the borrower to provide information such as their name, address, business information, and other relevant information to the lender. Both types of Borrower's Affidavits are intended to protect the lender from default by providing accurate and complete information about the borrower.
Borrower Affidavit
Description
How to fill out Borrower's Affidavit?
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