Adjustable Rate Mortgage (ARM)
Application Kit
Thank you for your interest in Columbia Bank’s mortgage products. To help expedite the
processing of your loan application, please be sure that:

You review the application instructions carefully,

Your application package is fully completed and signed,

All of the forms and disclosures in the application kit are completed and signed,

The required documentation (as outlined in the Application Instructions) is
included with your application submission,

You download and review the following booklet:
Federal Reserve Brochure: Consumer Handbook on Adjustable Rate Mortgages
http://files.consumerfinance.gov/f/201204_CFPB_ARMs-brochure.pdf
If you would prefer us to mail you a copy of this booklet, please contact us at
800-522-4167

Your completed application package is forwarded to:
Columbia Bank
Attn: Mortgage Dept.
19-01 Route 208 North
Fair Lawn, NJ 07410
References to other resources that you may find useful are included below:

Federal Reserve Brochure: 5 Tips for Shopping for a Mortgage
www.federalreserve.gov/consumerinfo/fivetips_mortgageshop.htm

Federal Reserve Brochure: A Consumer's Guide to Mortgage Refinancings
www.federalreserve.gov/pubs/refinancings/default.htm

Federal Reserve Brochure: A Consumer's Guide to Mortgage Lock-Ins
www.federalreserve.gov/pubs/lockins/default.htm

Federal Reserve Brochure: A Consumer's Guide to Mortgage Settlement Costs
www.federalreserve.gov/pubs/settlement/default.htm
If you have any questions, please contact us at 1-800-522-4167 and we will be happy
to assist you.
Thank you for the opportunity to serve you.
APPLICATION INSTRUCTIONS
IF YOU HAVE ANY QUESTIONS PLEASE CONTACT US AT:
1-800-522-4167
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of
terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each
person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other
information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
To help expedite the processing of your loan application, please complete the following checklist and
provide the required documentation with your application submission. Please check the corresponding
box indicating that the information is enclosed or mark the box with a N/A if the item is not applicable.
We will not be able to process an incomplete loan application.
1
Your application should be completed in its entirety and signed. Please print clearly or type.
2
You should review, sign and date the appropriate adjustable rate mortgage (ARM) Disclosure Form.
Please note that you only need to complete the ARM Disclosure Form for the product that you are
applying for.
3
Please complete, sign and date all of the enclosed forms. To help expedite the processing of your
application, if you wish for us to communicate electronically, you must complete the Consent to
Receive Electronic Communications form and return with your application submission.
4
Please sign the Verification Authorization (in all three sections).
5
Please sign and date the Interest Rate Lock-In Policy and Agreement Acknowledgement. Please note
this form needs to be completed regardless of whether you wish to lock in your interest rate.
6
Please complete the Property Description Sheet. Please be sure to furnish all of the necessary
information. Please advise the “Contact Person” that the appraiser will be contacting him / her about
the appraisal (as access to the property may be required).
7
Please submit an executed final copy of the sales contact (including all addendums and attachments).
This requirement is only applicable if you are purchasing a property. If the transaction is a refinance,
and you do not currently have your mortgage with Columbia Bank, please submit a copy of your tax
bill and homeowner’s insurance bill.
8
If you are selling your current residence, please submit a executed final copy of the sales contract.
9
If you are self employed please submit complete and signed copies of your federal tax returns (both
personal and business returns) for the two most recent years. Please be sure that the tax returns are
signed and that they include all schedules and addendums.
10 If you are not self employed please submit copies of your W-2’s for the two most recent years. Please
note that if your employer participates in the work number for employment verification services, you
will be required to provide us with a salary key code in order to verify your income. If you have
retirement income or investment income, we will require proof of that income.
11 Please submit consecutive copies of your pay stubs for the two most recent pay periods.
12 Please be sure that each applicant and co-applicant signs the enclosed IRS 4506T form. This form will
be used to request transcripts of your tax returns from the IRS. If the applicant and co-applicant did
not file a joint tax return, you will need to print and complete an additional copy of this form.
13 Please submit complete copies of your two most recent statements for all accounts (e.g., bank,
brokerage, 401K, etc.) listed on your application.
14 If you own additional properties including a vacation residence or investment property please submit a
copy of your tax bill and insurance bill for each property.
Page 1 of 3
V 1/11
15 Please forward all of the above noted information to:
Columbia Bank
Attn: Mortgage Dept.
19-01 Route 208 North
Fair Lawn, NJ 07410
Columbia Bank reserves the right to request additional information to process your loan application.
Application Fee
Flood Certification Fee
Appraisal Fee (1)
Credit Report Fee (2)
Real Estate Tax Service Fee (3)
(Not applicable for FHA loans)
(1)
(2)
(3)
FEE INFORMATION
Single Family Properties
2-4 Family Properties
$0.00
$0.00
$10.00
$10.00
$375.00 (Except FHA Loans)
$425.00 (for FHA Loans)
$18.70 Joint (Same Address)
$10.35 Individual
$88.00
$550.00 (Except FHA Loans)
$600.00 (for FHA Loans)
$18.70 Joint (Same Address)
$10.70 Individual
$88.00
For loan amounts of $750,000 to $1,500,000, the fee will be $575.00. For loan amounts greater
than $1,500,000, 2 appraisals will be ordered. The appraisal fee for loan amounts greater than
$1,500,000 will be $1,500.00.
For each additional applicant beyond an individual or married joint, an additional Credit Report Fee
will be charged as noted above. For each business credit report, the fee is $65.00.
Or $44.00 if you are refinancing your Columbia Bank first mortgage. For the Tax Service Fee on loans
greater than $499,999.99, please ask your mortgage representative. There is no Tax Service Fee
for FHA loans.
The above fees are not refundable and subject to change at any time.
Page 2 of 3
V 1/11
Payable When
N/A
Once you receive your
disclosures and provide us with
your Intent to Proceed with the
application.
Lock in or commitment,
whichever occurs first.
Lock in or commitment,
whichever occurs first.
Payable at closing.
FREQUENTLY ASKED QUESTIONS
WHAT TO DO NOW?
Please review your entire application package making sure that all of the required forms are properly completed
and that all of the requested information (as outlined in the Application Instructions) is included in your
application submission. This will help us process your loan request in a timelier manner.
WHAT IS THE NEXT STEP?
Shortly after we receive your loan application package, we will issue you a Good Faith Estimate (GFE) and
Truth in Lending (TIL) disclosure. If you would like to proceed with your loan application, once you receive
these disclosures you should:
1. Review these disclosures carefully,
2. Sign the Certificate of Receipt of Good Faith Estimate and Intent to Proceed (Intent to Proceed) form,
3. Return the signed form with the required fees.
IMPORTANT: Please be advised that we will not be able to process your loan request unless you return
the Intent to Proceed form along with the required fees. The earliest you may submit these items is seven
(7) business days from Columbia Bank’s receipt of the application.
WHEN CAN I LOCK MY RATE?
Columbia Bank will set your interest rate on the day that we receive your application. The earliest that you may
lock your interest rate is the 7th business day (Saturday is considered a business day) from the date we receive
your application. If you do not choose to lock in your rate by the 10th business day of the date that we received
your application, your interest rate will float. You may then elect to lock in your interest rate at any time prior
to commitment.
HOW CAN I LOCK MY RATE?
To lock in your rate please perform the following actions:
1.
2.
3.
4.
Review the enclosed Interest Rate Lock-In Policy and Agreement.
Complete page three (3) signing where indicated,
Please be sure to submit the required lock-in fee
Please return the form and the required fees to Columbia Bank.
WHO CAN I CALL FOR HELP?
If you have any questions, or need any assistance in completing your loan application package, please contact
us at 1-800-522-4167 to speak with someone in our customer service area.
Monday through Friday
Saturday and Sunday
7:00 am to 9:00 pm (EST)
8:00 am to 4:00 pm (EST)
Page 3 of 3
V 1/11
INTAPP
Uniform Residential Loan Application
This application is designed to be completed by the applicant(s) with the Lender’s assistance. Applicants should complete this form as “Borrower” or “Co-Borrower”, as
applicable. Co-Borrower information must also be provided (and the appropriate box checked) when
the income or assets of a person other than the Borrower (including
the Borrower’s spouse) will be used as a basis for loan qualification or
the income or assets of the Borrower’s spouse or other person who has community property rights
pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property
rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying
on other property located in a community property state as a basis for repayment of the loan.
If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below).
Borrower
Co-Borrower
Mortgage
Applied for:
VA
FHA
Amount
$
Conventional
USDA/Rural
Housing Service
Interest Rate
%
I. TYPE OF MORTGAGE AND TERMS OF LOAN
Other (explain):
Agency Case Number
No. of Months
Amortization
Type:
Fixed Rate
GPM
Lender Case Number
Other (explain):
ARM (type):
II. PROPERTY INFORMATION AND PURPOSE OF LOAN
Subject Property Address (street, city, state, & ZIP)
No. of Units
County:
Legal Description of Subject Property (attach description if necessary)
Year Built
Purpose of Loan:
Purchase
Refinance
Construction
Other (explain):
Construction-Permanent
Property will be:
Primary
Residence
Complete this line if construction or construction-permanent loan.
Year Lot Acquired Original Cost
Amount Existing Liens (a) Present Value of Lot
$
$
Complete this line if this is a refinance loan.
Year Acquired
Original Cost
Amount Existing Liens
$
$
Investment
(b) Cost of Improvements
Total (a+b)
$
$
Describe Improvements
Purpose of Refinance
$
Secondary
Residence
made
Cost $
Manner in which Title will be held
Title will be held in what Name(s)
Estate will be held in:
Fee Simple
Leasehold
(show expiration date)
Source of Down Payment, Settlement Charges and/or Subordinate Financing (explain)
Borrower
Borrower’s Name (include Jr. or Sr. if applicable)
Social Security Number
Home Phone (incl. area code)
III. BORROWER INFORMATION
Co-Borrower
Co-Borrower’s Name (include Jr. or Sr. if applicable)
DOB (MM/DD/YYYY) Yrs. School Social Security Number
Home Phone (incl. area code) DOB (MM/DD/YYYY) Yrs. School
//
Married
Unmarried (include single,
divorced, widowed)
//
Dependents (not listed by Co-Borrower)
no.
ages
Separated
Present Address (street, city, state, ZIP)
Own
Rent
No. Yrs.
Mailing Address, if different from Present Address
Married
Dependents (not listed by Borrower)
Unmarried (include single
divorced, widowed)
no.
Separated
Present Address (street, city, state, ZIP)
Self Employed
IV. EMPLOYMENT INFORMATION
Name & Address of Employer
Yrs. on this job
Yrs. employed in
this line of
work/profession
Position/Title/Type of Business
ages
Own
Rent
No. Yrs.
Rent
No. Yrs.
Mailing Address, if different from Present Address
If residing at present address for less than two years, complete the following:
Former Address (street, city, state, ZIP)
Own
Rent
No. Yrs. Former Address (street, city, state, ZIP)
Borrower
Name & Address of Employer
to be made
Business Phone (incl. area code)
Own
Co-Borrower
Self Employed
Yrs. on this job
Yrs. employed
in this line of
work/profession
Position/Title/Type of Business
Business Phone (incl. area code)
If employed in current position for less than two years or if currently employed in more than one position, complete the following:
Uniform Residential Loan Application
Freddie Mac Form 65 7/05 (rev.6/09)
1003 Page 1 (Letter) ~ 04/2010 ~ Encompass360TM
Page 1 of 5
Fannie Mae Form 1003
7/05 (rev.6/09)
Borrower
IV. EMPLOYMENT INFORMATION
Name & Address of Employer
Self Employed
Dates (from-to)
Co-Borrower
Name & Address of Employer
Self Employed
Monthly Income
Monthly Income
Position/Title/Type of Business
$
Business Phone (incl. area code)
Position/Title/Type of Business
Name & Address of Employer
Self Employed
Name & Address of Employer
Dates (from-to)
$
Business Phone (incl. area code)
Self Employed
Monthly Income
$
Business Phone (incl. area code)
Position/Title/Type of Business
Dates (from-to)
Dates (from-to)
Monthly Income
$
Business Phone (incl. area code)
Position/Title/Type of Business
V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION
Gross Monthly
Income
Borrower
Base Empl. Income*
Co-Borrower
$
$
Combined Monthly
Housing Expense
Total
$
Rent
Overtime
First Mortgage (P&I)
Bonuses
Other Financing (P&I)
Commissions
Hazard Insurance
Dividends/Interest
Real Estate Taxes
Net Rental Income
Mortgage Insurance
Other (before completing,
Homeowner Assn. Dues
see the notice in “describe
other income,” below)
Other:
Total
Present
$
$
$
Total
Proposed
$
$
$
$
* Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.
Described Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the
Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.
B/C
Monthly Amount
$
VI. ASSETS AND LIABILITIES
This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently
joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise separate Statements and Schedules are required. If the Co-Borrower
section was completed about a non-applicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.
Completed
Jointly
Not Jointly
ASSETS
Cash or Market
Value
Description
Cash deposit toward purchase held by:
$
Liabilities and Pledged Assets. List the creditor’s name, address and account number for all
outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony,
child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities
which will be satisfied upon sale of real estate owned or upon refinancing of the subject property.
LIABILITIES
List checking and savings accounts below
Name and address of Company
Monthly Payment &
Months Left to Pay
Unpaid Balance
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
Name and address of Bank, S&L, or Credit Union
Acct. no.
Acct. no.
$
Name and address of Company
Name and address of Bank, S&L, or Credit Union
Acct. no.
Acct. no.
$
Name and address of Company
Name and address of Bank, S&L, or Credit Union
Acct. no.
Uniform Residential Loan Application
Freddie Mac Form 65 7/05 (rev.6/09)
1003 Page 2 (Letter) ~ 04/2010 ~ Encompass360TM
Page 2 of 5
Fannie Mae Form 1003
7/05 (rev.6/09)
VI. ASSETS AND LIABILITIES (cont.)
Acct. no.
$
Name and address of Company
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
$ Payment/Months
$
Name and address of Bank, S&L, or Credit Union
Acct. no.
Acct. no.
$
Name and address of Company
Stocks & Bonds (Company name/number $
& description)
Acct. no.
Name and address of Company
Life insurance net cash value
$
Face amount: $
Subtotal Liquid Assets
$
Real estate owned (enter market value
from schedule of real estate owned)
$
Vested interest in retirement fund
$
Net worth of business(es) owned
(attach financial statement)
$
Automobiles owned (make and year)
$
Acct. no.
Name and address of Company
Acct. no.
Other Assets (itemize)
Alimony/Child Support/Separate Maintenance
Payments Owed to:
$
Job-Related Expense (child care, union dues, etc.)
$
Total Monthly Payments
$
$
Total Assets a.
Net Worth
(a minus b)
$
$
Total Liabilities b. $
Schedule of Real Estate Owned (If additional properties are owned, use continuation sheet.)
Property Address (enter S if sold, PS if pending sale or
R if rental being held for income)
Type of
Property
Totals
Present
Market Value
Amount of
Mortgages & Liens
Gross
Rental Income
Insurance,
Maintenance,
Taxes & Misc.
Mortgage
Payments
Net
Rental Income
$
$
$
$
$
$
$
$
$
$
$
$
List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s):
Alternate Name
Creditor Name
VII. DETAILS OF TRANSACTION
Account Number
VIII. DECLARATIONS
b. Alterations, improvements, repairs
If you answer “Yes” to any questions a through i, please use continuation Borrower Co-Borrower
sheet for explanation.
Yes No
Yes No
c. Land (if acquired separately)
a. Are there any outstanding judgments against you?
d. Refinance (incl. debts to be paid off)
b. Have you been declared bankrupt within the past 7 years?
e. Estimated prepaid items
c. Have you had property foreclosed upon or given title or deed in lieu thereof
in the last 7 years?
a. Purchase Price
$
f. Estimated closing costs
g. PMI, MIP, Funding Fee
d. Are you a party to a lawsuit?
h. Discount (if Borrower will pay)
e. Have you directly or indirectly been obligated on any loan which resulted in
foreclosure, transfer of title in lieu of foreclosure, or judgment?
i. Total costs (add items a through h)
j. Subordinate financing
(This would include such loans as home mortgage loans, SBA loans, home improvement loans,
educational loans, manufactured (mobile) home loans, any mortgage, financial obligation,
bond, or loan guarantee. If “Yes,” provide details, including date, name and address of Lender,
FHA or VA case number, if any, and reasons for the action.)
k. Borrower’s closing costs paid by Seller
Uniform Residential Loan Application
Freddie Mac Form 65 7/05 (rev.6/09)
1003 Page 3 (Letter) ~ 04/2010 ~ Encompass360TM
Page 3 of 5
Fannie Mae Form 1003
7/05 (rev.6/09)
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Continuation Sheet/Residential Loan Application
Use this continuation sheet if you
need more space to complete the
Residential Loan Application.
Mark B for Borrower or C for
Co-Borrower.
Borrower:
Agency Case Number:
Co-Borrower:
Lender Case Number:
I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of
the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq.
Borrower’s Signature:
X
Uniform Residential Loan Application
Freddie Mac Form 65 7/05 (rev.6/09)
1003 Page 5 (Letter) ~ 04/2010 ~ Encompass360TM
Date
Co-Borrower’s Signature:
Date
X
Page 5 of 5
Fannie Mae Form 1003
7/05 (rev.6/09)
ADDENDUM TO APPLICATION FOR ADDITIONAL REAL ESTATE OWNED
Property Address
Original Loan
Amount
*
Name & Address
Lender
of
Loan Number
Current Balance
Market Value
Mortgage
Payment
Gross Rent
Taxes &
Insurance
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Totals:
Applicant Signature
Applicant Signature
*INDICATE “S” IF SOLD, “PS” IF PENDING SALE, “R” IF RENTAL PROPERTY, OR “PR” IF PRIMARY RESIDENCE.
Rev 01/08
Net Rental
Income / Loss
CONSENT TO RECEIVE ELECTRONIC COMMUNICATIONS
The following disclosures are required by the federal Electronic Signatures in Global and
National Commerce Act (“ESIGN”). In order for you to receive Communications electronically
in connection with your residential mortgage application, you must consent to Columbia Bank’s
Residential Mortgage Department providing you these communications electronically. Your
consent to receive electronic communications includes but is not limited to: loan documents,
disclosures, and the appraisal report. By providing your email address and your signature below,
you consent to receiving communications by email. Each borrower must provide this form even
if all borrowers may share the same email address.
How to Withdraw Consent. You may withdraw your consent to receiving communications
electronically, at no charge by calling (800) 522-4167.
How to Update Your Records. It is your responsibility to provide us with true, accurate, and
complete e-mail address, contact, and other information related to this disclosure and your
residential mortgage application, and to maintain and update promptly any changes in this
information. You can update information by calling (800) 522-4167 or emailing your designated
loan representative.
Hardware and Software Requirements. In order to access, view, and retain electronic
communications that we make available to you, you must have:
• A computer with Internet connectivity, sufficient storage space, and a supported Internet
browser capable of 128-bit encryption;
• A supported PDF viewer, such as the current version of Adobe® Reader®
(www.adobe.com/reader) and a browser that can print PDF documents;
• A valid e-mail address including an account with an e-mail service provider compatible with
your e-mail software.
Requesting Paper Copies. During the residential mortgage application process, you can obtain a
paper copy of the electronic communications by printing them yourself or by requesting that we
mail you a paper copy. To request a paper copy, please call us at (800) 522-4167 or email your
designated loan representative.
Name: _______________________________________________________________________
Email address: _________________________________________________________________
I consent to receiving Communications electronically from Columbia Bank’s Residential
Mortgage Department.
_______________________________________
Borrower’s Signature
__________________
Date
THREE-ONE (3/1) ADJUSTABLE RATE MORTGAGE DISCLOSURE
IMPORTANT INFORMATION ABOUT THE ADJUSTABLE RATE MORTGAGE
PLEASE READ CAREFULLY
This disclosure describes the features of this Adjustable Rate Mortgage (ARM) program you are considering. Information on other
ARM programs is available upon request.
GENERAL DESCRIPTION OF THE ARM PROGRAM
Your interest rate and payment can change annually after three years.
Your interest rate at each adjustment will be equal to the index plus a margin, rounded to the nearest 1/8 of 1%, subject to the
limitations ("caps") described below. The "margin" is the amount which will be added to the index to determine the interest
rate at each adjustment. Once the margin is established for your loan, the margin will not change throughout the term of the loan.
Ask us for our current interest rate and margin.
Your index will be the Weekly Average Yield on U.S. Treasury Securities Adjusted to a Constant Maturity of One Year
("index"). Information on the index is published weekly in The Wall Street Journal. The Federal Reserve Board's Statistical
Release H.15 is another source of information on the index. If this index is not available, a comparable index will be used.
HOW YOUR INITIAL INTEREST RATE AND INITIAL PAYMENT AMOUNT WILL BE DETERMINED
Your initial interest rate may or may not be based on the index and margin used to make later adjustments. Market conditions
will affect how this product is priced. There are three ways this product may be priced. The product may be priced at a discount,
at a premium, or at par. These terms are explained below.
The amount by which the initial interest rate is less than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Discount". Ask us for the amount of the initial interest rate discount which
is currently applied to our adjustable rate mortgages.
The amount by which the initial interest rate is greater than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Premium". Ask us for the amount of the initial interest rate premium which
is currently applied to our adjustable rate mortgages.
When the initial interest rate is equal to the rate that would be determined by adding the margin to the index (and then rounded),
this is called "PAR". Ask us for the current initial interest rate for the Three-One (3/1) Adjustable Rate Mortgage.
Your initial payment will be based on the initial interest rate, loan balance, and loan term. This initial payment will be determined
by calculating the amount required to repay the amount of the loan in substantially equal monthly payments over the term at the initial
interest rate.
HOW YOUR INTEREST RATE CAN CHANGE
Your interest rate can change yearly, beginning 35 months after the first payment is due.
The dates when the interest rate can change are called "interest rate change dates."
Your interest rate cannot increase or decrease more than 2.00 percentage points at each adjustment. This is sometimes referred to
as the "periodic interest rate cap."
Your interest rate cannot increase more than 6.00 percentage points over the term of the loan. This is sometimes referred to as the
"lifetime interest rate cap."
The interest rate which will be effective on the change date (new interest rate) will be based on the index plus the margin.
The new interest rate will be calculated by adding the margin to the most recent index figure available 45 days before the interest
rate change date. The result will be rounded to the nearest .125% and then adjusted, if necessary, according to the periodic and
lifetime interest rate caps.
HOW YOUR PAYMENT CAN CHANGE
Your payment can increase or decrease substantially based on annual changes in the interest rate. Such changes can begin
36 months after the first payment is due. If the interest rate changes on an interest rate change date, the payment change will become
effective starting with the payment due one month later.
The new payment will be based on the new interest rate, the loan balance on the change date, and the remaining loan term.
This new payment will be determined by calculating the amount required to repay the remaining loan balance in substantially
equal monthly payments over the remaining loan term at the new interest rate.
3/1 ARM (2/6 Caps) –01/13
1 of 3
THIS IS A THREE-PAGE DISCLOSURE. SEE BELOW FOR MORE INFORMATION.
PLEASE SIGN BELOW AND RETURN TO COLUMBIA BANK. PLEASE KEEP A COPY FOR YOUR RECORDS.
BY SIGNING BELOW I/WE ACKNOWLEDGE THAT I/WE HAVE READ BOTH SIDES OF THIS DOCUMENT, KEPT A COPY
FOR OUR RECORDS, AND VIEWED / RECEIVED THE “CONSUMER HANDBOOK ON ADJUSTABLE RATE MORTGAGES”
BOOKLET.
___________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
___________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
THE FOLLOWING ARE EXAMPLES OF THE MAXIMUM INTEREST RATE AND MAXIMUM PAYMENT WHICH
COULD BE REQUIRED. EXAMPLES ARE PROVIDED FOR THE THREE POSSIBLE PRICING SCENARIOS:
DISCOUNTED RATE
For example, on a $10,000 loan with an initial interest rate of 2.500 (2.875% less an initial discount of .375%) in effect in
December 2012, the maximum amount the interest rate can rise under this program is 6.00%, to an interest rate of 8.500% and
the monthly payment can rise from a first year payment to a maximum payment as shown below.
First year payment
Maximum payment
15 year term
$ 66.68
$ 89.96 in year six (6)
30 year term
$ 39.52
$ 72.33 in year six (6)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
6 x $66.68 = $400.08 per month
30 year term
6 x $39.52 = $237.12 per month
PREMIUM RATE
For example, on a $10,000 loan with an initial interest rate of 3.000% (2.875% plus an initial premium of .125%) in effect in
December 2012, the maximum amount the interest rate can rise under this program is 6.00%, to an interest rate of 9.000% and
the monthly payment can rise from a first year payment to a maximum payment as shown below. In December 2012, this product was
not priced at a premium. We have chosen a .125% premium for illustrative purposes.
First year payment
Maximum payment
15 year term
$ 69.06
$ 92.89 in year six (6)
30 year term
$ 42.17
$ 76.01 in year six (6)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly
payment by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
6 x $69.06 = $414.36 per month
30 year term
6 x $42.17 = $253.02 per month
PAR PRICING
For example, on a $10,000 loan with an initial interest rate of 2.875% (par) in effect in December 2012, the maximum amount
the interest rate can rise under this program is 6.000%, to an interest rate of 8.875% and the monthly payment can rise from
a first year payment to a maximum payment as shown below. In December 2012, this product was not priced at par.
First year payment
Maximum payment
15 year term
$ 68.46
$ 92.15 in year six (6)
30 year term
$ 41.49
$ 75.08 in year six (6)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
3/1 ARM (2/6 Caps) –01/13
15 year term
6 x $68.46 = $410.76 per month
2 of 3
30 year term
6 x $41.49 = $248.94 per month
NOTICE OF INTEREST RATE AND PAYMENT CHANGE
If your interest rate and payment change on any Change Date, you will be notified at least 25, but no more than 76, calendar days
before the due date of the payment at the new level. This notice will contain the following information.
1.
2.
3.
4.
5.
The change in the index.
The change in your interest rate.
The change in your payments.
The loan balance.
The title and telephone number of an employee who can answer your questions about the notice.
INITIAL INTEREST RATE
The initial interest rate which will be charged on this loan is set by Columbia Bank as outlined in the Interest Rate Lock-In
Policy Information and Agreement form. Please refer to that form for further details.
THIS DISCLOSURE IS INTENDED FOR REFERENCE PURPOSES ONLY. IT IS NOT A COMMITMENT. IMPORTANT
INFORMATION RELATING SPECIFICALLY TO YOUR LOAN WILL BE CONTAINED IN THE LOAN AGREEMENT (THE
NOTE, MORTGAGE OR ANY OTHER PERTINENT LEGAL DOCUMENT).
3/1 ARM (2/6 Caps) –01/13
3 of 3
FIVE-ONE (5/1) ADJUSTABLE RATE MORTGAGE DISCLOSURE
IMPORTANT INFORMATION ABOUT THE ADJUSTABLE RATE MORTGAGE
PLEASE READ CAREFULLY
This disclosure describes the features of this Adjustable Rate Mortgage (ARM) program you are considering. Information on other
ARM programs is available upon request.
GENERAL DESCRIPTION OF THE ARM PROGRAM
Your interest rate and payment can change annually after five years.
Your interest rate at each adjustment will be equal to the index plus a margin, rounded to the nearest 1/8 of 1%, subject to the
limitations ("caps") described below. The "margin" is the amount which will be added to the index to determine the interest
rate at each adjustment. Once the margin is established for your loan, the margin will not change throughout the term of the loan.
Ask us for our current interest rate and margin.
Your index will be the Weekly Average Yield on U.S. Treasury Securities Adjusted to a Constant Maturity of One Year
("index"). Information on the index is published weekly in The Wall Street Journal. The Federal Reserve Board's Statistical
Release H.15 is another source of information on the index. If this index is not available, a comparable index will be used.
HOW YOUR INITIAL INTEREST RATE AND INITIAL PAYMENT AMOUNT WILL BE DETERMINED
Your initial interest rate may or may not be based on the index and margin used to make later adjustments. Market conditions
will affect how this product is priced. There are three ways this product may be priced. The product may be priced at a discount,
at a premium, or at par. These terms are explained below.
The amount by which the initial interest rate is less than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Discount". Ask us for the amount of the initial interest rate discount which
is currently applied to our adjustable rate mortgages.
The amount by which the initial interest rate is greater than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Premium". Ask us for the amount of the initial interest rate premium which
is currently applied to our adjustable rate mortgages.
When the initial interest rate is equal to the rate that would be determined by adding the margin to the index (and then rounded),
this is called "PAR". Ask us for the current initial interest rate for the Five-One (5/1) Adjustable Rate Mortgage.
Your initial payment will be based on the initial interest rate, loan balance, and loan term. This initial payment will be determined
by calculating the amount required to repay the amount of the loan in substantially equal monthly payments over the term at the initial
interest rate.
HOW YOUR INTEREST RATE CAN CHANGE
Your interest rate can change yearly, beginning 59 months after the first payment is due.
The dates when the interest rate can change are called "interest rate change dates."
Your interest rate cannot increase or decrease more than 2.00 percentage points at each adjustment. This is sometimes referred to
as the "periodic interest rate cap."
Your interest rate cannot increase more than 5.00 percentage points over the term of the loan. This is sometimes referred to as the
"lifetime interest rate cap."
The interest rate which will be effective on the change date (new interest rate) will be based on the index plus the margin.
The new interest rate will be calculated by adding the margin to the most recent index figure available 45 days before the interest
rate change date. The result will be rounded to the nearest .125% and then adjusted, if necessary, according to the periodic and
lifetime interest rate caps.
HOW YOUR PAYMENT CAN CHANGE
Your payment can change increase or decrease substantially based annual changes in the interest rate. Such changes can begin
60 months after the first payment is due. If the interest rate changes on an interest rate change date, the payment change will become
effective starting with the payment due one month later.
The new payment will be based on the new interest rate, the loan balance on the change date, and the remaining loan term.
This new payment will be determined by calculating the amount required to repay the remaining loan balance in substantially
equal monthly payments over the remaining loan term at the new interest rate.
5/1 ARM (2/5 Caps) – 01/13
1 of 3
THIS IS A THREE-PAGE DISCLOSURE. SEE BELOW FOR MORE INFORMATION.
PLEASE SIGN BELOW AND RETURN TO COLUMBIA BANK. PLEASE KEEP A COPY FOR YOUR RECORDS.
BY SIGNING BELOW I/WE ACKNOWLEDGE THAT I/WE HAVE READ BOTH SIDES OF THIS DOCUMENT, KEPT A COPY
FOR OUR RECORDS, AND HAVE VIEWED / RECEIVED THE “CONSUMER HANDBOOK ON ADJUSTABLE RATE MORTGAGES”
BOOKLET.
__________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
__________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
THE FOLLOWING ARE EXAMPLES OF THE MAXIMUM INTEREST RATE AND MAXIMUM PAYMENT WHICH
COULD BE REQUIRED. EXAMPLES ARE PROVIDED FOR THE THREE POSSIBLE PRICING SCENARIOS:
DISCOUNTED RATE
For example, on a $10,000 loan with an initial interest rate of 2.500% (2.875% less an initial discount of .375%) in effect in
December 2012, the maximum amount the interest rate can rise under this program is 5.00%, to an interest rate of 7.500% and
the monthly payment can rise from a first year payment to a maximum payment as shown below.
First year payment
Maximum payment
15 year term
$ 66.68
$ 82.62 in year eight (8)
30 year term
$ 39.52
$ 64.40 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
30 year term
6 x $66.68 = $400.08 per month
6 x $39.52 = $237.12 per month
PREMIUM RATE
For example, on a $10,000 loan with an initial interest rate of 3.000% (2.875% plus an initial premium of .125%) in effect
in December 2012, the maximum amount the interest rate can rise under this program is 5.000%, to an interest rate of 8.000%
and the monthly payment can rise from a first year payment to a maximum payment as shown below. In December 2012, this product was
not priced at a premium. We have chosen a .125% premium for illustrative purposes.
First year payment
Maximum payment
15 year term
$ 69.06
$ 85.41 in year eight (8)
30 year term
$ 42.17
$ 67.94 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
6 x $69.06 = $414.36 per month
30 year term
6 x $42.17 = $253.02 per month
PAR PRICING
For example, on a $10,000 loan with an initial interest rate of 2.875% (par) in effect in December 2012, the maximum amount
the interest rate can rise under this program is 5.000%, to an interest rate of 7.875% and the monthly payment can rise from
a first year payment to a maximum payment as shown below. In December 2012, this product was not priced at par.
First year payment
Maximum payment
15 year term
$ 68.46
$ 84.71 in year eight (8)
30 year term
$ 41.49
$ 67.05 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
15 year term
5/1 ARM (2/5 Caps) – 01/13
30 year term
2 of 3
$60,000/$10,000 = 6
6 x $68.46 = $410.76 per month
6 x $41.49 = $248.94 per month
NOTICE OF INTEREST RATE AND PAYMENT CHANGE
If your interest rate and payment change on any Change Date, you will be notified at least 25, but no more than 76, calendar days
before the due date of the payment at the new level. This notice will contain the following information.
1.
2.
3.
4.
5.
The change in the index.
The change in your interest rate.
The change in your payments.
The loan balance.
The title and telephone number of an employee who can answer your questions about the notice.
INITIAL INTEREST RATE
The initial interest rate which will be charged on this loan is set by Columbia Bank as outlined in the Interest Rate Lock-In
Policy Information and Agreement form. Please refer to that form for further details.
THIS DISCLOSURE IS INTENDED FOR REFERENCE PURPOSES ONLY. IT IS NOT A COMMITMENT. IMPORTANT
INFORMATION RELATING SPECIFICALLY TO YOUR LOAN WILL BE CONTAINED IN THE LOAN AGREEMENT (THE
NOTE, MORTGAGE OR ANY OTHER PERTINENT LEGAL DOCUMENT).
5/1 ARM (2/5 Caps) – 01/13
3 of 3
SEVEN-ONE (7/1) ADJUSTABLE RATE MORTGAGE DISCLOSURE
IMPORTANT INFORMATION ABOUT THE ADJUSTABLE RATE MORTGAGE
PLEASE READ CAREFULLY
This disclosure describes the features of this Adjustable Rate Mortgage (ARM) program you are considering. Information on other
ARM programs is available upon request.
GENERAL DESCRIPTION OF THE ARM PROGRAM
Your interest rate and payment can change annually after seven years.
Your interest rate at each adjustment will be equal to the index plus a margin, rounded to the nearest 1/8 of 1%, subject to the
limitations ("caps") described below. The "margin" is the amount which will be added to the index to determine the interest
rate at each adjustment. Once the margin is established for your loan, the margin will not change throughout the term of the loan.
Ask us for our current interest rate and margin.
Your index will be the Weekly Average Yield on U.S. Treasury Securities Adjusted to a Constant Maturity of One Year
("index"). Information on the index is published weekly in The Wall Street Journal. The Federal Reserve Board's Statistical
Release H.15 is another source of information on the index. If this index is not available, a comparable index will be used.
HOW YOUR INITIAL INTEREST RATE AND INITIAL PAYMENT AMOUNT WILL BE DETERMINED
Your initial interest rate may or may not be based on the index and margin used to make later adjustments. Market conditions
will affect how this product is priced. There are three ways this product may be priced. The product may be priced at a discount,
at a premium, or at par. These terms are explained below.
The amount by which the initial interest rate is less than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Discount". Ask us for the amount of the initial interest rate discount which
is currently applied to our adjustable rate mortgages.
The amount by which the initial interest rate is greater than the rate that would be determined by adding the margin to the index
(and then rounded) is called the "Initial Interest Rate Premium". Ask us for the amount of the initial interest rate premium which
is currently applied to our adjustable rate mortgages.
When the initial interest rate is equal to the rate that would be determined by adding the margin to the index (and then rounded),
this is called "PAR". Ask us for the current initial interest rate for the Seven-One (7/1) Adjustable Rate Mortgage.
Your initial payment will be based on the initial interest rate, loan balance, and loan term. This initial payment will be determined
by calculating the amount required to repay the amount of the loan in substantially equal monthly payments over the term at the initial
interest rate.
HOW YOUR INTEREST RATE CAN CHANGE
Your interest rate can change yearly, beginning 83 months after the first payment is due.
The dates when the interest rate can change are called "interest rate change dates." Your interest rate cannot increase more
than 5.00 percentage points or decrease by more than 5.00 percentage points at the initial (first) adjustment period. This is sometimes
referred to as the “initial adjustment rate cap.”
Your interest rate cannot increase or decrease more than 2.00 percentage points at each adjustment after the initial (first)
adjustment period. This is sometimes referred to as the "periodic interest rate cap."
Your interest rate cannot increase more than 5.00 percentage points over the term of the loan. This is sometimes referred to as the
"lifetime interest rate cap."
The interest rate which will be effective on the change date (new interest rate) will be based on the index plus the margin.
The new interest rate will be calculated by adding the margin to the most recent index figure available 45 days before the interest
rate change date. The result will be rounded to the nearest .125% and then adjusted, if necessary, according to the initial adjustment rate
cap, the periodic interest rate cap, or the lifetime interest rate cap.
HOW YOUR PAYMENT CAN CHANGE
Your payment can increase or decrease substantially based on annual changes in the interest rate. Such changes can begin 84 months
after the first payment is due. If the interest rate changes on an interest rate change date, the payment change will become effective starting
with the payment due one month later.
7/1 ARM (5/2/5 Caps) –01/13
1 of 3
The new payment will be based on the new interest rate, the loan balance on the change date, and the remaining loan term.
This new payment will be determined by calculating the amount required to repay the remaining loan balance in substantially
equal monthly payments over the remaining loan term at the new interest rate.
THIS IS A THREE-PAGE DISCLOSURE. SEE BELOW FOR MORE INFORMATION.
PLEASE SIGN BELOW AND RETURN TO COLUMBIA BANK. PLEASE KEEP A COPY FOR YOUR RECORDS.
BY SIGNING BELOW I/WE ACKNOWLEDGE THAT I/WE HAVE READ BOTH SIDES OF THIS DOCUMENT, KEPT A COPY
FOR OUR RECORDS, AND VIEWED / RECEIVED THE “CONSUMER HANDBOOK ON ADJUSTABLE RATE MORTGAGES”
BOOKLET.
__________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
__________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
THE FOLLOWING ARE EXAMPLES OF THE MAXIMUM INTEREST RATE AND MAXIMUM PAYMENT WHICH
COULD BE REQUIRED. EXAMPLES ARE PROVIDED FOR THE THREE POSSIBLE PRICING SCENARIOS:
DISCOUNTED RATE
For example, on a $10,000 loan with an initial interest rate of 2.625 % (2.875% less an initial discount of .250%) in effect in
December 2012, the maximum amount the interest rate can rise under this program is 5.000%, to an interest rate of 7.625% and
the monthly payment can rise from a first year payment to a maximum payment as shown below.
First year payment
Maximum payment
15 year term
$ 67.27
$ 81.16 in year eight (8)
30 year term
$ 40.17
$ 63.98 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
6 x $67.27 = $403.62 per month
30 year term
6 x $40.17= $241.02 per month
PREMIUM RATE
For example, on a $10,000 loan with an initial interest rate of 3.000% (2.875% plus an initial premium of .125%) in effect
in December 2012, the maximum amount the interest rate can rise under this program is 5.000%, to an interest rate of 8.000% and
the monthly payment can rise from a first year payment to a maximum payment as shown below. In December 2012, this product was
not priced at a premium. We have chosen a .125% premium for illustrative purposes.
First year payment
Maximum payment
15 year term
$ 69.06
$ 83.23 in year eight (8)
30 year term
$ 42.17
$ 66.63 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
7/1 ARM (5/2/5 Caps) –01/13
15 year term
6 x $69.06 = $414.36 per month
2 of 3
30 year term
6 x $42.17 = $253.02 per month
PAR PRICING
For example, on a $10,000 loan with an initial interest rate of 2.875% (par) in effect in December 2012, the maximum amount
the interest rate can rise under this program is 5.000%, to an interest rate of 7.875% and the monthly payment can rise from
a first year payment to a maximum payment as shown below.
First year payment
Maximum payment
15 year term
$ 68.46
$ 82.54 in year eight (8)
30 year term
$ 41.49
$ 65.75 in year eight (8)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment
by that amount. For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000 = 6
15 year term
6 x $68.46 = $410.76 per month
30 year term
6 x $41.49 = $248.94 per month
NOTICE OF INTEREST RATE AND PAYMENT CHANGE
If your interest rate and payment change on any Change Date, you will be notified at least 25, but no more than 76, calendar days
before the due date of the payment at the new level. This notice will contain the following information.
1.
2.
3.
4.
5.
The change in the index.
The change in your interest rate.
The change in your payments.
The loan balance.
The title and telephone number of an employee who can answer your questions about the notice.
INITIAL INTEREST RATE
The initial interest rate which will be charged on this loan is set by Columbia Bank as outlined in the Interest Rate Lock-In
Policy Information and Agreement form. Please refer to that form for further details.
THIS DISCLOSURE IS INTENDED FOR REFERENCE PURPOSES ONLY. IT IS NOT A COMMITMENT. IMPORTANT
INFORMATION RELATING SPECIFICALLY TO YOUR LOAN WILL BE CONTAINED IN THE LOAN AGREEMENT (THE
NOTE, MORTGAGE OR ANY OTHER PERTINENT LEGAL DOCUMENT).
7/1 ARM (5/2/5 Caps) –01/13
3 of 3
ONE (1) YEAR ADJUSTABLE RATE MORTGAGE CONSTRUCTION/ PERMANENT DISCLOSURE
IMPORTANT INFORMATION ABOUT THE ADJUSTABLE RATE MORTGAGE - PLEASE READ CAREFULLY
This disclosure describes the features of this Adjustable Rate Mortgage (ARM) Construction program you are considering.
GENERAL DESCRIPTION OF THE ARM PROGRAM
This “Construction/Permanent” ARM provides for monthly “interest only” payments during the period of time known as the “construction
period” and monthly principal and interest payments during the “permanent period.” The “construction period” shall end in 12 months or
at the end of the month in which the final advance is made, whichever occurs first. The loan converts to the “permanent period” after the
“construction period.”
Your interest rate can change twelve months from the date the first interest payment is due and annually thereafter. Your “interest only”
payment can change each month during the construction period. If principal and interest payments begin before the interest rate change date,
that payment may adjust one month after the interest rate change date and annually thereafter.
Your interest rate at each adjustment will be equal to the index plus a margin, rounded to the nearest 1/8 of 1%, subject to the limitations
("caps") described below. The "margin" is the amount which will be added to the index to determine the interest rate at each adjustment. Once
the margin is established for your loan, the margin will not change throughout the term of the loan. Ask us for our current interest rate and margin.
Your index will be the Weekly Average Yield on U.S. Treasury Securities Adjusted to a Constant Maturity of One Year ("index").
Information on the index is published weekly in The Wall Street Journal. The Federal Reserve Board's Statistical Release H.15 is another
source of information on the index. If this index is not available, a comparable index will be used.
The construction period shall end in twelve months or at the end of the month in which the final advance is made, whichever occurs first.
During the construction period, interest will be billed and payable monthly based on the amount outstanding.
Your interest rate will not change during the first twelve months.
Funds will generally be advanced in four payments. Funds will be advanced only after the work has been completed for each phase of the
schedule. Ask us for a copy of our current construction schedule. You must request each advance in writing and submit a cost of labor performed
and materials used, along with an updated title search. Columbia will inspect the property and determine in its own discretion (a) whether the work
completed to the date of the inspection has been done satisfactorily and (b) the cost of the work completed since the date of the previous requisition
and (c) the dollar amount to be advanced (if any).
At the end of the 12 month construction period or after the end of the month in which the final advance is made, whichever occurs first, the loan
will convert to the permanent period. Upon conversion to the permanent period, the monthly principal and interest payment will be calculated on
the total amount advanced to amortize over 30 years less the number of months of the construction period. At the end of the construction period,
you will be permitted to modify to one of our other loan products at the “no point” rate in effect on the final advance date.
HOW YOUR INITIAL INTEREST RATE AND INITIAL PAYMENT AMOUNT WILL BE DETERMINED
Your initial interest rate may or may not be based on the index and margin used to make later adjustments. Market conditions will affect how
this product is priced. There are three ways this product may be priced. The product may be priced at a discount, at a premium, or at par. These
terms are explained below.
The amount by which the initial interest rate is less than the rate that would be determined by adding the margin to the index (and then
rounded) is called the "Initial Interest Rate Discount". Ask us for the amount of the initial interest rate discount which is currently applied
to our adjustable rate construction/permanent mortgage.
The amount by which the initial interest rate is greater than the rate that would be determined by adding the margin to the index (and then
rounded) is called the "Initial Interest Rate Premium". Ask us for the amount of the initial interest rate premium which is currently applied
to our adjustable rate mortgages construction/permanent mortgage.
When the initial interest rate is equal to the rate that would be determined by adding the margin to the index (and then rounded),
this is called "PAR". Ask us for the current initial interest rate for the adjustable rate construction/permanent mortgage.
Your initial “interest only” payment will be based on the initial interest rate and principal amount outstanding. Your initial principal and
interest payment will be based on the initial interest rate, loan balance and loan term if this payment is due on or before the date when your
interest rate can change. If your first principal and interest payment is due after the date your interest rate may change, the payment will be
based on the new interest rate, loan balance and loan term. The initial principal and interest payment will be determined by calculating the
amount required to repay the amount of the loan is substantially equal monthly payments over the term at the initial interest rate.
HOW YOUR INTEREST RATE CAN CHANGE
Your interest rate can change yearly, beginning 11 to 12 months after the first payment is due, depending upon the day of the month in
which your loan closes.
The dates when the interest rate can change are called "interest rate change dates."
Your interest rate cannot increase or decrease more than 2.00 percentage points at each adjustment. This is sometimes referred to
as the "periodic interest rate cap."
Your interest rate cannot increase more than 6.00 percentage points over the term of the loan. This is sometimes referred to as the
"lifetime interest rate cap."
The interest rate which will be effective on the change date (new interest rate) will be based on the index plus the margin. The new interest
rate will be calculated by adding the margin to the most recent index figure available 45 days before the interest rate change date. The result
will be rounded to the nearest .125% and then adjusted, if necessary, according to the periodic and lifetime interest rate caps.
THIS IS A TWO-PAGE DISCLOSURE. SEE THE NEXT PAGE FOR MORE INFORMATION. PLEASE SIGN BELOW AND
RETURN A COPY WITH YOUR APPLICATION.
BY SIGNING BELOW I/WE ACKNOWLEDGE THAT I/WE HAVE READ THIS DOCUMENT, KEPT A COPY
FOR OUR RECORDS, AND HAVE VIEWED THE “CONSUMER HANDBOOK ON ADJUSTABLE RATE MORTGAGES”
BOOKLET.
_________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
__________________________________________________
SIGNATURE
DATE
____________________________________________________
SIGNATURE
DATE
Construction/Perm (2/6 Caps) – 02/12
Page 1 of 2
HOW YOUR PAYMENT CAN CHANGE
Your “interest only” payment can change each month during the construction period based on the outstanding principal balance and the number
of days in the billing cycle. Your principal and interest payment can change one month after the first interest rate change date if the payments
began prior to the interest rate change date. The payment can change annually thereafter. If you take the full year for the construction period,
our initial principal and interest payment will change one year from the first month after the interest rate change date and annually thereafter.
If the interest rate changes on an interest rate change date, the payment change will become effective starting with the payment due one month later.
The new principal and interest payment due after an interest rate change date will be based on the new interest rate, the loan balance on the change
date, and the remaining loan term. This new payment will be determined by calculating the amount required to repay the remaining loan balance
in substantially equal monthly payments over the remaining loan term at the new interest rate.
THE FOLLOWING ARE EXAMPLES OF THE MAXIMUM INTEREST RATE AND MAXIMUM PAYMENT WHICH
COULD BE REQUIRED. EXAMPLES ARE PROVIDED FOR THE THREE POSSIBLE PRICING SCENARIOS:
DISCOUNTED RATE
For example, on a $10,000 loan with an initial interest rate of 2.750% (2.875% less an initial discount of .125%) in effect in
January 2012, the maximum amount the interest rate can rise under this program is 6.000%, to an interest rate of 8.750% and
the monthly payment can rise from a first year payment to a maximum payment as shown below. In January 2012, this product was not
priced at a discount. We have chosen a .125% discount for illustrative purposes only.
“Interest only” payment
2nd year principal + interest
Maximum payment
30 year term *
$ 22.92 **
$ 52.99
$ 78.26 in year four (4)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount.
For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000=6
6 x $ 22.92 = $137.52
6 x $ 52.99 = $317.94
Interest Only
Principal and Interest
PREMIUM RATE
For example, on a $10,000 loan with an initial interest rate of 6.00% (2.875% plus an initial premium of 3.125%) in effect
in January 2012, the maximum amount the interest rate can rise under this program is 6.00%, to an interest rate of 12.00%
and the monthly payment can rise from a first year payment to a maximum payment as shown below.
“Interest only” payment
2nd year principal + interest
Maximum payment
30 year term *
$ 50.00 **
$ 74.00
$102.49 in year four (4)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount.
For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000=6
6 x $ 50.00 = $300.00
6 x $ 74.00 = $444.00
Interest Only
Principal and Interest
PAR PRICING
For example, on a $10,000 loan with an initial interest rate of 2.875% (par) in effect in January 2012, the maximum amount
the interest rate can rise under this program is 6.000%, to an interest rate of 8.875% and the monthly payment can rise from a
first year payment to a maximum payment as shown below. In January 2012, this product was not priced at par.
“Interest only” payment
2nd year principal + interest
Maximum payment
30 year term *
$ 23.96 **
$ 53.74
$ 79.16 in year four (4)
To see what your monthly payments would be, divide your mortgage amount by $10,000, then multiply the monthly payment by that amount.
For example, the monthly payment for a loan amount of $60,000 would be:
$60,000/$10,000=6
6 x $ 23.96 = $143.76 Interest Only
6 x $ 53.74 = $322.44 Principal and Interest
* For purposes of this example, assume that the full 12 month construction period was needed and that principal and interest payments did not
begin until the month after the first interest rate change date. The payment can adjust annually based on changes in the interest rate.
** Monthly payment is “interest only” and based on the full $10,000 being advanced at time of closing.
NOTICE OF INTEREST RATE AND PAYMENT CHANGE
If your interest rate and payment change on any Change Date, you will be notified at least 25, but no more than 76, calendar days
before the due date of the payment at the new level. This notice will contain the following information.
1.
2.
3.
4.
5.
The change in the index.
The change in your interest rate.
The change in your payments.
The loan balance.
The title and telephone number of an employee who can answer your questions about the notice.
INITIAL INTEREST RATE
The initial interest rate which will be charged on this loan is set by Columbia Bank as outlined in the Interest Rate Lock-In
Policy Information and Agreement form. Please refer to that form for further details.
THIS DISCLOSURE IS INTENDED FOR REFERENCE PURPOSES ONLY. IT IS NOT A COMMITMENT. IMPORTANT
INFORMATION RELATING SPECIFICALLY TO YOUR LOAN WILL BE CONTAINED IN THE LOAN AGREEMENT (THE
NOTE, MORTGAGE OR ANY OTHER PERTINENT LEGAL DOCUMENT).
Construction/Perm (2/6 Caps) – 02/12
Page 2 of 2
INTEREST RATE LOCK-IN POLICY AND AGREEMENT
FOR CURRENT INTEREST RATES PLEASE CALL 1 800 522 4167
or visit www.columbiabankonline.com
This Agreement (also known as the “Interest Rate Lock-in Agreement” or “Agreement”) contains important information
about our lock-in policy and lock-in/commitment fee. Even if you do not wish to lock-in the interest rate, we still advise
that you read this information. This Agreement outlines how your interest rate will be determined on your mortgage loan.
If after reading the text of this Agreement, you wish to lock-in your rate, please complete the section at the end of
this document.
FEES REQUIRED AT LOCK-IN/COMMITMENT
If you wish to lock-in prior to commitment, you must pay Columbia Bank a $500.00 lock-in fee at the time of lock-in
together with the flood certification fee, the appraisal fee and the credit report fee (if not already paid). If you have not
locked-in by commitment, then you will have to pay Columbia Bank a $500.00 commitment fee plus all fees due by
commitment acceptance. The $500.00 fee will be collected at the earlier of lock-in or commitment. This $500.00 lock-in
fee or commitment fee will be refunded when your loan closes, or if your loan is denied. If your loan does not close,
this fee will not be refunded.
LOCK-IN POLICY INFORMATION
PLEASE CAREFULLY READ THIS LOCK IN AGREEMENT PRIOR TO SIGNING. THE LOCK-IN OPTION
IS AT YOUR EXPENSE AND RISK. INTEREST RATES CAN CHANGE FREQUENTLY. AS A RESULT,
LOCKING IN YOUR INTEREST RATE IS SPECULATIVE.
Columbia Bank (“Columbia”) will normally process, review and make a decision on a mortgage application in 45 days.
Circumstances beyond our control may affect the timely completion of the mortgage process. Columbia also requires the
submission of a complete application including a Contract of Sale (if applicable), and payment of the appropriate fees at the
time you lock-in.
For Pre-Approval Certificate Program applicants, an application will be considered finalized once a Contract of Sale,
Property Description Sheet, and Uniform Residential Loan Application Addendum are submitted. Columbia Bank will set
an interest rate on the date we receive your finalized application.
LOCKING-IN A RATE
Columbia Bank will set an interest rate on the date we receive your application for a mortgage or finalized application for
a Pre-approval Certificate Program (either hereinafter referred to as “Application”). During the first ten (10) business days
from the date we receive your Application, you can lock a rate once you have received and reviewed your Good Faith
Estimate and Truth-In-Lending disclosures. If you want to proceed with the transaction and lock your rate you must follow
the procedure below:
If you have not yet told us of your “intent to proceed” with the loan, either verbally or with the Intent to Proceed form, you
must let us know that you have reviewed your mortgage disclosures and now want to continue with the mortgage
transaction. You may do this by executing the Intent to Proceed form that you received with your disclosures and
returning it to Columbia Bank with this Agreement.
You must also execute this Agreement. Executing this Agreement is accomplished by completing the section entitled
”Please Complete this Section if you Wish to Lock-In Your Rate” on page three (3), signing where indicated and paying
the appropriate fees (see the section below entitled “Fees Required to Lock-In”). The lock-in rate will be determined as
follows:
1/13
If you choose to lock-in the rate within the first ten (10) business days of the date Columbia Bank receives your
application, the rate that will be locked-in will be the lowest rate in effect from the date we received your application
through the date that you choose to lock-in up to and including the 10th business day.
For example, if the rate at Application (day 1) was 3.25% , and the rate changed to 3.50% on day 4, and you choose to
lock-in on day 7, the lock-in rate would be 3.25%. In the same example, if on day 8 the rate changes to 3.125% and you
choose to lock-in on day 10, the lock-in rate would be 3.125%.
If you do not choose to lock in the rate by the tenth (10th) business day from the date we receive your Application, then
your interest rate will float. You may then lock-in the rate for a period of 75 days at any time prior to commitment by
executing this Agreement and the Intent to Proceed form (if not submitted previously) and submitting them along with the
required fees.
If you opt to float your interest rate (and not exercise your option to lock in your interest rate) we urge you to
regularly monitor our mortgage rates by visiting www.columbiabankonline.com. At no time can Columbia Bank's
employees predict future interest rate changes.
LOCKING IN PRIOR TO COMMITMENT
If you lock-in prior to commitment, your rate will be locked for 75 days. If you have locked-in and Columbia Bank issues
you a commitment after you have locked, the commitment will expire when your lock-in agreement expires.
RATE LOCKED IN AT COMMITMENT
If you do not choose to lock-in prior to commitment, then on the date the commitment is issued, the rate will be set at the
prevailing rate for the loan product requested. The commitment expiration date will be 75 days from the date the
commitment was issued.
IF YOUR COMMITMENT (AND LOCK-IN RATE) EXPIRES
If your commitment expires for any reason and you need an extension of the commitment, an extension may be granted as
follows:
Purchase Transactions – An extension, if granted, will be up to a 60 day period at the locked-in interest rate (stated on the
commitment) or the interest rate in effect on the date the extension request is received by Columbia, whichever is higher.
Refinance Transactions – An extension, if granted, will be up to a 30 day period at the locked-in interest rate (stated on
the commitment) or the interest rate in effect on the date the extension request is received by Columbia, whichever is
higher.
Only one extension will be granted. Extension may require updated documentation, for example, credit report,
income/asset verification, a current appraisal or any other such information as may be required by our program guidelines
and credit policies. Columbia Bank reserves the right not to grant an extension and/or to decline any prior approved
loan if the applicant(s) no longer qualifies due to a rise in interest rates, credit and documentation updates or loan
program eligibility guidelines.
EXECUTING THIS LOCK IN AGREEMENT
If you wish to execute this Lock In Agreement please:

Complete and sign the Agreement.

Complete and sign your Intent to Proceed form (if not already provided).

Return both of these agreements along with the following fees (if not already paid):




1/13
The Lock In Fee,
Flood Certification Fee,
Appraisal Fee,
Credit Report Fee
2 of 4
DELIVERY OPTIONS
You may submit the Lock In Agreement and Intent to Proceed form (if not executed previously) by:
1. Hand delivering it to any one of the following:
Columbia Bank
Attn: Mortgage Department
19-01 Route 208, Fair Lawn NJ 07410,
Columbia Bank
Corner of Echelon Road & White Horse Road
P.O. Box 1645
Voorhees, NJ 08043
Any Columbia Bank branch location.
You may find a list of our branches by visiting www.columbiabankonline.com.
2.
Scanning/Emailing the Agreement together with the Intent to Proceed form (if not executed previously) to your
or
designated
loan
representative
(if
known),
or
to
[email protected]
[email protected] or faxing the agreement to (201) 599-7090. However, please be sure to have the
original Agreement (and fees) delivered via overnight return receipt mail to either address above. Once received, we
will lock in your rate in accordance to the terms of the agreement. Please note that if the original Agreement (and
fees) is not received by the second business day after the Agreement was Scanned/Emailed (example Email
received on Monday, Agreement and check must be received by Wednesday), your Lock In Agreement will be
rescinded.
3.
Mailing the Agreement and the Intent to Proceed form (if not executed previously) together with the appropriate fees
via overnight mail to:
Columbia Bank
Attn: Mortgage Department
19-01 Route 208
Fair Lawn, NJ 07410
Once received, we will lock in your rate in accordance to the terms of the agreement.
ADDITIONAL INFORMATION
1.
2.
3.
4.
5.
6.
1/13
The actual rate that will be locked-in will be determined by the terms of this Agreement, our credit and underwriting
policies, and must be confirmed in writing by a representative of Columbia Bank who has signed and returned a fully
executed copy to you.
The lock-in granted is valid only for the loan program listed on this Agreement that corresponds to the data in the loan
application. If you want to change the loan program and lock-in prior to commitment, a new Interest Rate Lock-In
Agreement will need to be submitted. The new lock-in rate will be the rate in effect on the date the original interest
rate was locked-in by a Columbia Representative or the rate in effect when the new interest rate is to be locked-in by a
Columbia Representative for the new loan program, whichever is higher. A new lock-in period will apply.
The lock-in granted is valid only for the property address listed on this Agreement that corresponds to the data in the
loan application. If you want to change the property address, and lock-in prior to commitment, a new Interest Rate
Lock-In Agreement will need to be submitted. The new lock-in rate will be the rate in effect on the date the new
interest rate was locked-in by a Columbia Representative for the new property address. A new lock-in period will
apply.
Columbia will make a good faith effort to process your mortgage loan application and/or stand ready to fulfill the
terms of any commitment issued before the expiration date of the lock-in agreement and any subsequent extension.
If this is a purchase transaction and your contract of sale is canceled by the seller(s) or buyer(s) for any valid reason
stated in the contract, you will receive a full refund of any interest rate lock-in fee or commitment fee that you have
paid. Proof satisfactory to the Bank must be provided verifying the contract cancellation.
If your loan application is denied by Columbia, your $500.00 lock-in or commitment fee will be refunded.
3 of 4
THIS SECTION MUST BE COMPLETED BY THE APPLICANT(S) IF YOU WANT TO
LOCK-IN YOUR RATE
(COLUMBIA BANK WILL RETURN A COPY TO YOU)
LOAN
DATE: ____________________ LOAN AMOUNT: $_________________________ PRODUCT_______________________
BORROWER: ______________________________________________
Owner Occupied ______ Primary Residence
PROPERTY ADDRESS: ______________________________________
___________________________________________________________
______ Vacation Home
Non-Owner Occupied ______
RATE LOCK REQUEST
I (We) wish to lock-in an interest rate of ______________% with total points of ______________% for a period not to
exceed 75 days. I (we) understand that a $500.00 lock-in fee $________________) plus the flood certification fee, the
appraisal fee and the credit report fee totaling $_______________) are due now at my interest rate lock-in. These are the
fees that you would have normally collected from me at commitment. I (we) understand that the $500.00 lock-in fee or
commitment fee will be refunded when the loan closes. I(we) understand that if my final debt-to-income ratio (after you
have verified all of my financial data) exceeds 45.0%, Columbia may consider this to be a high debt-to-income ratio loan
and 1/8th of 1% will be added to the rate. I/we understand that this higher rate will also be outlined below (see “If final
debt-to-income ratio exceeds 45.00%” section) when the Interest Rate Lock-In Agreement is executed by the Bank.
I (We) have carefully read this agreement, fully understand its contents, and agree to all terms herein detailed. I (We) have
also reviewed the Good Faith Estimate and Truth-In-Lending disclosures and intend to proceed with this transaction. I
(We) also understand that this document is not a commitment or agreement to grant the mortgage loan requested. If my
(our) lock-in will expire prior to the anticipated closing date detailed in my/our contract of sale, I (we) acknowledges
that the lock-in is at my/our full expense and risk.
__________________________________________
(APPLICANT)
(DATE)
______________________________________________
(APPLICANT)
(DATE)
__________________________________________
(APPLICANT)
(DATE)
______________________________________________
(APPLICANT)
(DATE)
THIS SECTION IS TO BE COMPLETED BY COLUMBIA BANK PERSONNEL
LOAN PRODUCT: ________________________________________________________
INTEREST RATE LOCKED-IN: _________________% If final debt-to-income ratio is less than or equal to 45.0%.
INTEREST RATE LOCKED-IN: _________________% If final debt-to-income ratio exceeds 45.00%
TOTAL POINTS LOCKED-IN: __________________% (Due at closing)
FEES RECEIVED AT LOCK-IN $__________________
CHECK #______________________
$500.00 Lock-In Fee + Check also includes_____ _ Flood Certification Fee______ Appraisal Fee_____ Credit Report Fee
The $500.00 lock-in fee or commitment fee will be refunded when the loan closes.
INTEREST RATE LOCK-IN AGREEMENT EXPIRATION DATE:_________________________
__________________________________________________
COLUMBIA BANK, (AUTHORIZED SIGNATURE) DATE
1/13
4 of 4
FOR CURRENT INTEREST RATES PLEASE CALL 1-800-522-4167
Or Visit www.columbiabankonline.com
CONSTRUCTION LOAN INTEREST RATE LOCK-IN POLICY AND AGREEMENT
This Agreement (also known as the “Interest Rate Lock-in Agreement”) contains important information about our lock-in policy
and lock-in/commitment fee. Even if you do not wish to lock-in the interest rate, we still require that you read this information.
This Agreement outlines how your interest rate will be determined on your mortgage loan.
If after reading the text of this Agreement, you wish to lock-in your rate, please complete the section on page three.
FEES REQUIRED AT LOCK-IN/COMMITMENT
If you wish to lock-in prior to commitment, you must pay us a one point (1%) lock-in fee at the time of lock-in together with the
application fee, flood certification fee, the appraisal fee and the credit report fee, if not already paid. If you have not locked-in by
commitment, then you will have to pay us a one point (1%) commitment fee plus all fees due by commitment acceptance. The one point
(1%) fee will be collected one time at lock-in or commitment. This one point (1%) lock-in fee or commitment fee will be refunded
when your loan closes. If your loan does not close, this money will not be refunded.
LOCK-IN POLICY INFORMATION
IT IS VERY IMPORTANT THAT YOU READ AND UNDERSTAND OUR INTEREST RATE LOCK-IN POLICIES AS
EXPLAINED IN THIS DOCUMENT PRIOR TO EXECUTING AN INTEREST RATE LOCK-IN AGREEMENT. THE
LOCK-IN OPTION IS AT YOUR FULL EXPENSE AND RISK. LOCK-INS ARE SPECULATIVE IN NATURE.
Columbia Bank (“Columbia”) will normally process, review and make a decision on a mortgage application in 45 days. Circumstances
beyond our control may affect the timely completion of the mortgage process.
Columbia also requires the submission of a complete application including a Contract of Sale (if applicable), and payment of the
appropriate fees at the time you lock-in.
For Pre-Approval Certificate Program applicants, an application will be considered finalized once a Contract of Sale, Property
Description Sheet, and Uniform Residential Loan Application Addendum are submitted. Columbia Bank will set an interest rate on the
date we receive your finalized application.
LOCKING-IN A RATE
Columbia Bank will set an interest rate on the date we receive your application for a mortgage or finalized application for a Pre-approval
Certificate Program (either hereinafter referred to as “Application”). From the seventh (7th) business day (Saturday is considered a
business day) through the tenth (10th) business day from the date we receive your Application, you can lock a rate for a period of 60 days
for a refinance transaction or 90 days for a purchase transaction by executing this Agreement. Executing this Agreement is
accomplished by completing the section entitled ”Please Complete this Section if you Wish to Lock-In Your Rate” on page three (3),
signing where indicated and paying the appropriate fees (see the section below entitled “Fees Required to Lock-In”). The lock-in rate will
be determined as follows:
The rate that will be locked-in will be the lowest rate in effect from the date we received your Application through the date that you
(day
choose to lock-in (from the 7th business day through the 10th business day). For example, if the rate at Application
1) was 6.00%, and the rate changed to 6.25% on day 4, and you choose to lock-in on day 7, the lock-in rate would be 6.00%. In the same
example, if on day 8 the rate changes to 5.875% and you choose to lock-in on day 10, the lock-in rate would be 5.875%.
If you do not choose to lock in the rate by the tenth (10th) business day from the date we receive your Application, then your rate will
float. You may then lock-in the rate for a period of 60 days for a refinance or 90 days for a purchase at any time prior to commitment by
executing this Agreement. Executing this Agreement is accomplished when you have completed the section entitled, “Please Complete
this Section if you Wish to Lock-In Your Rate” on page three (3), signed where indicated, paid the appropriate fees (see the section
below entitled “Fees Required to Lock-In”), and the lock has been signed and dated by a Columbia Bank representative authorized to
Lock-In the rate.
If you elect not to lock-in your rate, we urge you to regularly evaluate interest rates by calling Columbia's TOLL FREE
CUSTOMER SERVICE NUMBER (the telephone number is at the top of this page). However, at no time will any of Columbia's
employees or representatives predict future interest rate changes.
LOCKING IN PRIOR TO COMMITMENT
If you lock-in prior to commitment, your rate will be locked for 60 days for a refinance or 90 days for a purchase. If you have locked-in
and we issue a commitment after you have locked, the commitment will expire when your lock-in agreement expires. You will have a
shorter period of time before you must close, since you will not have the full commitment period of 60 or 90 days (see below).
RATE LOCKED IN AT COMMITMENT
If you do not choose to lock-in prior to commitment, then on the date the commitment is issued, the rate will be set at the prevailing rate
for the loan product requested. The commitment expiration date will be 60 days for a refinance or 90 days for a purchase from the date
the commitment was issued.
5/11 DRC
IF YOUR COMMITMENT (AND LOCK-IN RATE) EXPIRES
If your commitment expires for any reason and you need an extension of the commitment, the extension may be granted as follows:
Purchase Transactions – An extension, if granted, will be UP TO a 60 DAY PERIOD at the locked-in interest rate (stated on the
commitment) or the interest rate in effect on the date the extension request is received by Columbia, whichever is higher.
Refinance Transactions – An extension, if granted, will be UP TO a 30 DAY PERIOD at the locked-in interest rate (stated on the
commitment) or the interest rate in effect on the date the extension request is received by Columbia, whichever is higher. Only one
extension will be granted.
All extensions will be subject as required to credit documentation updates as well as continued loan program eligibility guidelines.
Columbia Bank reserves the right not to grant an extension and/or to decline any prior approved loan if the applicant(s) no
longer qualifies(y) based on a rise in the interest rates, credit documentation updates, or loan program eligibility guidelines.
DELIVERY OPTIONS AVAILABLE TO OBTAIN A RATE LOCK-IN PRIOR TO COMMITMENT:
1. Hand deliver, during normal business hours on the 7th business day or after (from Columbia Bank’s receipt of your
application), this Agreement executed by you, and the one point (1%) lock-in fee together with the application fee, flood
certification fee, the appraisal fee, and the credit report fee, if not already paid, if you wish
to lock-in in accordance with the terms of this Agreement. (Pre-Approval Certificate Program Applicants are
ineligible until submission of the Contract of Sale and other required documentation. See your program
disclosure). Hand deliver to:
2.
3.
A. Columbia Bank, Corporate Headquarters, 19-01 Route 208, Fair Lawn NJ 07410, or
B. Columbia Bank at Echelon Road & White Horse Road, P.O. Box 1645, Voorhees, NJ 08043, or
C. Any Columbia Bank branch location.
OR
Send this Agreement executed by you and the one point (1%) lock-in fee together with the application fee, flood
certification fee, appraisal fee and the credit report fee, if not already paid, via overnight return receipt mail to either
address A or B above on the 6th business day or after (from Columbia Bank’s receipt of your application). Once received,
we will lock in your rate in accordance with the terms of this agreement. In order to expedite the processing of the Interest
Rate Lock-in Agreement, we recommend that it be hand delivered to Corporate Headquarters (see A above).
OR
Fax this Agreement and a copy of the check in the amount of the one point (1%) lock-in fee together with the application
fee, flood certification fee, the appraisal fee and the credit report fee, if not already paid to (201) 599-7090 on the 7th
business day or after (from Columbia Bank’s receipt of your application). We will lock in your rate in accordance with the
terms of this Agreement when Columbia receives the faxed copies of the Agreement and check in the required amount.
Send the original Agreement and check via overnight return receipt mail to Columbia Bank, 19-01 Route 208 N,
Fair Lawn NJ 07410 ATTENTION: Mortgage Department. The lock will be rescinded if the original Agreement
and check are not received by the second business day after the fax was received (example – fax received on
Monday, Agreement and check must be received by Wednesday).
ADDITIONAL INFORMATION
1.
The actual rate that will be locked-in will be determined by the terms of this Agreement, our credit and underwriting policies,
and must be confirmed in writing by a representative of Columbia who has signed and returned a fully executed copy to you.
2.
The lock-in granted is valid only for the loan program listed on this Agreement that corresponds to the data in the loan
application. If you want to change the loan program and lock-in prior to commitment, a new Interest Rate Lock-In Agreement
will need to be signed. The new lock-in rate will be the rate in effect on the date the original interest rate was locked-in by a
Columbia Representative or the rate in effect when the new interest rate is to be locked-in by a Columbia Representative for the
new loan program, whichever is higher. A new lock-in period will apply.
3.
The lock-in granted is valid only for the property address listed on this Agreement that corresponds to the data in the loan
application. If you want to change the property address, and lock-in prior to commitment, a new Interest Rate Lock-In
Agreement will need to be signed. The new lock-in rate will be the rate in effect on the date the new interest rate was locked-in
by a Columbia Representative for the new property address. A new lock-in period will apply.
4.
Columbia will make a good faith effort to process your mortgage loan application and/or stand ready to fulfill the terms of any
commitment issued before the expiration date of the lock-in agreement and any subsequent extension.
5.
If this is a purchase transaction and your contract of sale is canceled by the seller(s) or buyer(s) for any valid reason stated in
the contract, you will receive a full refund of any interest rate lock-in fee or commitment fee that you have paid. Proof
satisfactory to the Bank must be provided verifying the contract cancellation.
6.
If your loan application is denied by Columbia, your 1 point (1%) lock-in or commitment fee will be refunded.
5/11 DRC
2 of 3
PLEASE COMPLETE THIS SECTION IF YOU WISH TO LOCK-IN YOUR RATE
IF YOU ARE REQUESTING A LOCK-IN AT THIS TIME, PLEASE COMPLETE AND SIGN THIS PAGE
AND RETURN (SEE PAGE 2 FOR DELIVERY OPTIONS) ALONG WITH THE REQUIRED
LOCK-IN FEE, APPLICATION FEE, FLOOD CERTIFICATION FEE, APPRAISAL FEE, AND
CREDIT REPORT FEE, IF NOT ALREADY PAID.
A COPY WILL BE RETURNED TO YOU INDICATING YOUR APPROVED RATE AND
LOCK-IN PERIOD.
LOAN
DATE: ____________________ LOAN AMOUNT:$_________________________ PRODUCT_______________________
BORROWER: ______________________________________________
PROPERTY ADDRESS: ______________________________________
Owner Occupied Primary Residence
___________________________________________________________
RATE LOCK REQUEST
I (We) wish to lock-in an interest rate of ______________% with total points of ______________% for a period not to
exceed 60 days for a refinance or 90 days for a purchase. I (we) understand that a 1 point (1%) lock-in fee $________________) plus
the application fee, flood certification fee, the appraisal fee and the credit report fee totaling $_______________) are due now at my
interest rate lock-in. These are the fees that you would have normally collected from me at commitment. I(we) understand that the 1
point (1%) lock-in fee or commitment fee will be refunded when the loan closes. I(we) understand that if my final debt-to-income ratio
(after you have verified all of my financial data) exceeds 45.0%, Columbia may consider this to be a high debt-to-income ratio loan and
1/8th of 1% will be added to the rate. I/we understand that this higher rate will also be outlined below ( see “If final debt-to-income ratio
exceeds 45.00%” section) when the Interest Rate Lock-In Agreement is executed by the Bank.
I (We) have carefully read this agreement, fully understand its contents, and agree to all terms herein detailed. I (We) also
understand that this document is not a commitment or agreement to grant the mortgage loan requested. If my (our) lock-in
will expire prior to the anticipated closing date detailed in my/our contract of sale, I (we) acknowledges that the
lock-in is at my/our full expense and risk.
__________________________________________
(APPLICANT)
(DATE)
______________________________________________
(APPLICANT)
(DATE)
__________________________________________
(APPLICANT)
(DATE)
______________________________________________
(APPLICANT)
(DATE)
_________________________________________________________________________________________________________
TO BE COMPLETED BY AUTHORIZED BANK PERSONNEL
APPLICANT’S LAST NAME_______________________________________________
LOAN PRODUCT:________________________________________________________
INTEREST RATE LOCKED-IN: _________________% if final debt-to-income ratio
is less than or equal to 45.0%.
INTEREST RATE LOCKED-IN:_________________% If final debt-to-income ratio exceeds 45.00%
TOTAL POINTS LOCKED-IN: __________________% (Due at closing)
FEES RECEIVED AT LOCK-IN $__________________
CHECK #______________________
1% Lock-In Fee +
Check also includes_____ Application Fee______ Flood Certification Fee______ Appraisal Fee_____ Credit Report Fee
The 1% lock-in fee or commitment fee will be refunded when the loan closes.
INTEREST RATE LOCK-IN AGREEMENT EXPIRATION DATE:_________________________
_______________________________________________
COLUMBIA BANK
(DATE)
(AUTHORIZED SIGNATURE)
5/11 DRC
3 of 3
INTEREST RATE LOCK-IN POLICY AND AGREEMENT
ACKNOWLEDGEMENT
Included in your mortgage application package is Columbia Bank’s Interest Rate
Lock-in Policy and Agreement form. Whether you are interested in a rate lock-in or
not interested in a rate lock-in you are still required to read the information found
in this Agreement.
Please sign below acknowledging that you have read the “Interest Rate Lock-in
Policy and Agreement.”
Acknowledgement:
I (We) have carefully read the INTEREST RATE LOCK-IN POLICY AND
AGREEMENT form and fully understand its contents.
___________________________
Applicant
Date
_______________________________
Applicant
Date
___________________________
Applicant
Date
____________________________
Applicant
Date
Email address:_________________________________________________
8/10
APPRAISAL CERTIFICATION
(PLEASE RETAIN A COPY FOR YOUR RECORDS AND
RETURN THE ORIGINAL WITH YOUR APPLICATION)
I/we understand and agree that the appraisal of the property we are purchasing or
refinancing has been made solely for the purpose of determining the Bank’s position with
respect to protecting its interest and in no manner can be construed as an approval or
warranty as to the soundness of any of the properties, structural components, mechanical
structures, etc.
Certifications will be required, prior to closing, from a local health authority or private
engineer that the individual septic and/or water supply systems are functioning
satisfactorily and with proper maintenance are not likely to create an unsanitary
condition.
You have the right to a copy of the appraisal report used in connection with your
application upon receipt of payment of the appraisal fee. If you wish a copy, you must
make your request in writing and mail to:
Columbia Bank
Attn: Mortgage Department
19-01 Route 208 N
Fair Lawn, NJ 07410
We must hear from you no later than 90 days from the date we notify you about the
action taken on your credit application or from the date you withdraw your application.
In your letter please include the following information:
1.
2.
3.
4.
Applicant’s Name
The subject property address
A check to cover the appropriate appraisal fee (if not previously paid)
Original signatures of all applicants
I/we acknowledge receipt of this disclosure:
________________________________
Applicant
Date
______________________________
Applicant
Date
________________________________
Applicant
Date
______________________________
Applicant
Date
2/09
Property Description Sheet
ASSIGNED FHA APPRAISER_______________________________
FHA CASE #:______________________________CB LOAN#_________________________
BORROWER(S) NAME(S) ___________________________________________________________
PROPERTY ADDRESS ______________________________________________________________
CITY ___________________________________COUNTY _________________________________
STATE _________________________________ ZIP CODE ________________________________
NEAREST INTERSECTING STREET _________________________________________________
MORTGAGE REQUEST $__________________
LEGAL DESCRIPTION
LOT __________ BLOCK ___________ YEAR BUILT_____________________________________
PURCHASE PRICE (IF APPLICABLE) $ ________________
IF PURCHASE, CONTRACT DATE ____________________ (PLEASE SUBMIT COPY OF FULLY
EXECUTED CONTRACT)
ANNUAL REAL ESTATE TAXES $ _______________
IF CONDO OR PUD, LIST MONTHLY MAINTENANCE FEE $_____________________________
IF PROPERTY IS A CONDOMINIUM, LIST
PROJECT NAME:_________________________________________
CONDO ASSOCIATION CONTACT’S PHONE #_________________ FAX #__________________
The following information is of vital importance in obtaining an accurate and speedy appraisal.
PROPERTY DESCRIPTION
NUMBER of ROOMS ______ NUMBER of BEDROOMS ________ NUMBER OF BATHS ________
(Please Circle One)
CONDOMINIUM CAPE COD
COLONIAL BUNGALOW
BI-LEVEL
SPLIT-LEVEL
RANCH
OTHER ________________
IS PROPERTY A PUD (PLANNED UNIT DEVELOPMENT)?__________________
Is this home centrally heated?
YES _________
NO _________
Is the street surface paved?
YES _________
NO _________
Is the street town maintained?
YES _________
NO _________
UTILITIES:
Sanitary Sewer _________Septic System _________Other _________
Public Water ___________Private Well __________Other _________
INDIVIDUAL TO CONTACT FOR APPRAISAL APPOINTMENT __________________________
Contact Telephone # ________________ Contact Cell #____________________________________
Assigned Processor ________________
10/08
Date Ordered: ____________________
AUTHORIZATION TO RELEASE INFORMATION REGARDING YOUR APPLICATION
I authorize Columbia Bank to exchange any information with my attorney, title company, or realtor regarding the mortgage loan for
which I am applying. Signatures in this section are optional.
Applicant Signature
Date
Applicant Signature
Date
Applicant Signature
Date
Applicant Signature
Date
VERIFICATION AUTHORIZATION - PLEASE SIGN ALL FOUR SECTIONS BELOW
I have applied for an extension of credit from Columbia Bank (the lender) and authorize you to release any information regarding my
past and present employment earnings records, bank accounts, stock holdings, and any other asset balances that I might maintain with
your company or institution. I further authorize Columbia Bank to order a consumer credit report and verify other credit information,
including past and present mortgage and landlord references. If my loan is chosen for quality control, this will further serve as
authorization for you to re-verify the information.
It is understood that a photocopy of this form will also serve as authorization
Applicant Signature

Applicant Signature
I have applied for an extension of credit from Columbia Bank (the lender) and authorize you to release any information regarding my
past and present employment earnings records, bank accounts, stock holdings, and any other asset balances that I might maintain with
your company or institution. I further authorize Columbia Bank to order a consumer credit report and verify other credit information,
including past and present mortgage and landlord references. If my loan is chosen for quality control, this will further serve as
authorization for you to re-verify the information.
It is understood that a photocopy of this form will also serve as authorization
Applicant Signature

Applicant Signature
I have applied for an extension of credit from Columbia Bank (the lender) and authorize you to release any information regarding my
past and present employment earnings records, bank accounts, stock holdings, and any other asset balances that I might maintain with
your company or institution. I further authorize Columbia Bank to order a consumer credit report and verify other credit information,
including past and present mortgage and landlord references. If my loan is chosen for quality control, this will further serve as
authorization for you to re-verify the information.
It is understood that a photocopy of this form will also serve as authorization
Applicant Signature

Applicant Signature
I have applied for an extension of credit from Columbia Bank (the lender) and authorize you to release any information regarding my
past and present employment earnings records, bank accounts, stock holdings, and any other asset balances that I might maintain with
your company or institution. I further authorize Columbia Bank to order a consumer credit report and verify other credit information,
including past and present mortgage and landlord references. If my loan is chosen for quality control, this will further serve as
authorization for you to re-verify the information.
It is understood that a photocopy of this form will also serve as authorization
Applicant Signature
Applicant Signature
Rev 2/13
Form
4506-T
Request for Transcript of Tax Return
OMB No. 1545-1872
(Rev. January 2010)
Department of the Treasury
Internal Revenue Service
© Request
may be rejected if the form is incomplete or illegible.
Tip. Use Form 4506-T to order a transcript or other return information free of charge. See the product list below. You can also call 1-800-829-1040 to
order a transcript. If you need a copy of your return, use Form 4506, Request for Copy of Tax Return. There is a fee to get a copy of your return.
1a Name shown on tax return. If a joint return, enter the name shown first.
1b First social security number on tax return or
employer identification number (see instructions)
2a If a joint return, enter spouse’s name shown on tax return.
2b Second social security number if joint tax return
3 Current name, address (including apt., room, or suite no.), city, state, and ZIP code
4 Previous address shown on the last return filed if different from line 3
5 If the transcript or tax information is to be mailed to a third party (such as a mortgage company), enter the third party’s name, address,
and telephone number. The IRS has no control over what the third party does with the tax information.
Winsome Deer, Assistant Mortgage Production Manager
Columbia Bank
19-01 Route 208 North, Fair Lawn, NJ 07410
Caution. If the transcript is being mailed to a third party, ensure that you have filled in line 6 and line 9 before signing. Sign and date the form once you
have filled in these lines. Completing these steps helps to protect your privacy.
6
a
Transcript requested. Enter the tax form number here (1040, 1065, 1120, etc.) and check the appropriate box below. Enter only one tax form
number per request. ©
1040
Return Transcript, which includes most of the line items of a tax return as filed with the IRS. A tax return transcript does not reflect
changes made to the account after the return is processed. Transcripts are only available for the following returns: Form 1040 series,
Form 1065, Form 1120, Form 1120A, Form 1120H, Form 1120L, and Form 1120S. Return transcripts are available for the current year
and returns processed during the prior 3 processing years. Most requests will be processed within 10 business days . . . . . .
b
Account Transcript, which contains information on the financial status of the account, such as payments made on the account, penalty
assessments, and adjustments made by you or the IRS after the return was filed. Return information is limited to items such as tax liability
and estimated tax payments. Account transcripts are available for most returns. Most requests will be processed within 30 calendar days. .
c
Record of Account, which is a combination of line item information and later adjustments to the account. Available for current year and
3 prior tax years. Most requests will be processed within 30 calendar days . . . . . . . . . . . . . . . . . . .
7
8
Verification of Nonfiling, which is proof from the IRS that you did not file a return for the year. Current year requests are only available
after June 15th. There are no availability restrictions on prior year requests. Most requests will be processed within 10 business days . .
Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript. The IRS can provide a transcript that includes data from
these information returns. State or local information is not included with the Form W-2 information. The IRS may be able to provide this
transcript information for up to 10 years. Information for the current year is generally not available until the year after it is filed with the IRS.
For example, W-2 information for 2007, filed in 2008, will not be available from the IRS until 2009. If you need W-2 information for retirement
purposes, you should contact the Social Security Administration at 1-800-772-1213. Most requests will be processed within 45 days . . .
Caution. If you need a copy of Form W-2 or Form 1099, you should first contact the payer. To get a copy of the Form W-2 or Form 1099 filed
with your return, you must use Form 4506 and request a copy of your return, which includes all attachments.
9
Year or period requested. Enter the ending date of the year or period, using the mm/dd/yyyy format. If you are requesting more than four
years or periods, you must attach another Form 4506-T. For requests relating to quarterly tax returns, such as Form 941, you must enter
each quarter or tax period separately.
Signature of taxpayer(s). I declare that I am either the taxpayer whose name is shown on line 1a or 2a, or a person authorized to obtain the tax
information requested. If the request applies to a joint return, either husband or wife must sign. If signed by a corporate officer, partner, guardian, tax
matters partner, executor, receiver, administrator, trustee, or party other than the taxpayer, I certify that I have the authority to execute
Form 4506-T on behalf of the taxpayer. Note. For transcripts being sent to a third party, this form must be received within 120 days of signature date.
Telephone number of taxpayer on
line 1a or 2a
Sign
Here
©
©
©
Signature (see instructions)
Date
Title (if line 1a above is a corporation, partnership, estate, or trust)
Spouse’s signature
For Privacy Act and Paperwork Reduction Act Notice, see page 2.
Date
Cat. No. 37667N
Form
4506-T
(Rev. 1-2010)
Form 4506-T (Rev. 1-2010)
Page
General Instructions
Chart for all other transcripts
Purpose of form. Use Form 4506-T to
request tax return information. You can
also designate a third party to receive the
information. See line 5.
Tip. Use Form 4506, Request for Copy of
Tax Return, to request copies of tax
returns.
Where to file. Mail or fax Form 4506-T to
the address below for the state you lived in,
or the state your business was in, when
that return was filed. There are two address
charts: one for individual transcripts (Form
1040 series and Form W-2) and one for all
other transcripts.
If you are requesting more than one
transcript or other product and the chart
below shows two different RAIVS teams,
send your request to the team based on
the address of your most recent return.
Automated transcript request. You can
call 1-800-829-1040 to order a transcript
through the automated self-help system.
Follow prompts for “questions about your
tax account” to order a tax return
transcript.
If you lived in
or your business
was in:
Chart for individual
transcripts (Form 1040 series
and Form W-2)
If you filed an
individual return
and lived in:
Mail or fax to the
“Internal Revenue
Service” at:
Florida, Georgia,
North Carolina,
South Carolina
RAIVS Team
P.O. Box 47-421
Stop 91
Doraville, GA 30362
770-455-2335
Alabama, Kentucky,
Louisiana,
Mississippi,
Tennessee, Texas, a
foreign country, or
A.P.O. or F.P.O.
address
RAIVS Team
Stop 6716 AUSC
Austin, TX 73301
512-460-2272
Alaska, Arizona,
California, Colorado,
Hawaii, Idaho, Illinois,
Indiana, Iowa, Kansas,
Michigan, Minnesota,
Montana, Nebraska,
Nevada, New Mexico,
North Dakota,
Oklahoma, Oregon,
South Dakota, Utah,
Washington,
Wisconsin, Wyoming
RAIVS Team
Stop 37106
Fresno, CA 93888
Arkansas,
Connecticut, Delaware,
District of Columbia,
Maine, Maryland,
Massachusetts,
Missouri, New
Hampshire, New
Jersey, New York,
Ohio, Pennsylvania,
Rhode Island, Vermont,
Virginia, West Virginia
RAIVS Team
Stop 6705 P-6
Kansas City, MO
64999
559-456-5876
816-292-6102
Alabama, Alaska,
Arizona, Arkansas,
California, Colorado,
Florida, Hawaii, Idaho,
Iowa, Kansas,
Louisiana, Minnesota,
Mississippi,
Missouri, Montana,
Nebraska, Nevada,
New Mexico,
North Dakota,
Oklahoma, Oregon,
South Dakota,
Tennessee, Texas,
Utah, Washington,
Wyoming, a foreign
country, or A.P.O. or
F.P.O. address
Connecticut,
Delaware, District of
Columbia, Georgia,
Illinois, Indiana,
Kentucky, Maine,
Maryland,
Massachusetts,
Michigan, New
Hampshire, New
Jersey, New York,
North Carolina,
Ohio, Pennsylvania,
Rhode Island, South
Carolina, Vermont,
Virginia, West Virginia,
Wisconsin
Mail or fax to the
“Internal Revenue
Service” at:
RAIVS Team
P.O. Box 9941
Mail Stop 6734
Ogden, UT 84409
801-620-6922
RAIVS Team
P.O. Box 145500
Stop 2800 F
Cincinnati, OH 45250
859-669-3592
Line 1b. Enter your employer identification
number (EIN) if your request relates to a
business return. Otherwise, enter the first
social security number (SSN) shown on the
return. For example, if you are requesting
Form 1040 that includes Schedule C
(Form 1040), enter your SSN.
Line 6. Enter only one tax form number per
request.
Signature and date. Form 4506-T must be
signed and dated by the taxpayer listed on
line 1a or 2a. If you completed line 5
requesting the information be sent to a
third party, the IRS must receive Form
4506-T within 120 days of the date signed
by the taxpayer or it will be rejected.
Individuals. Transcripts of jointly filed
tax returns may be furnished to either
spouse. Only one signature is required.
Sign Form 4506-T exactly as your name
appeared on the original return. If you
changed your name, also sign your current
name.
Corporations. Generally, Form 4506-T
can be signed by: (1) an officer having legal
authority to bind the corporation, (2) any
person designated by the board of
directors or other governing body, or (3)
any officer or employee on written request
by any principal officer and attested to by
the secretary or other officer.
2
Partnerships. Generally, Form 4506-T
can be signed by any person who was a
member of the partnership during any part
of the tax period requested on line 9.
All others. See Internal Revenue Code
section 6103(e) if the taxpayer has died, is
insolvent, is a dissolved corporation, or if a
trustee, guardian, executor, receiver, or
administrator is acting for the taxpayer.
Documentation. For entities other than
individuals, you must attach the
authorization document. For example, this
could be the letter from the principal officer
authorizing an employee of the corporation
or the Letters Testamentary authorizing an
individual to act for an estate.
Privacy Act and Paperwork Reduction
Act Notice. We ask for the information on
this form to establish your right to gain
access to the requested tax information
under the Internal Revenue Code. We
need this information to properly identify
the tax information and respond to your
request. You are not required to request
any transcript; if you do request a
transcript, sections 6103 and 6109 and
their regulations require you to provide this
information, including your SSN or EIN. If
you do not provide this information, we
may not be able to process your request.
Providing false or fraudulent information
may subject you to penalties.
Routine uses of this information include
giving it to the Department of Justice for
civil and criminal litigation, and cities,
states, and the District of Columbia for use
in administering their tax laws. We may
also disclose this information to other
countries under a tax treaty, to federal and
state agencies to enforce federal nontax
criminal laws, or to federal law enforcement
and intelligence agencies to combat
terrorism.
You are not required to provide the
information requested on a form that is
subject to the Paperwork Reduction Act
unless the form displays a valid OMB
control number. Books or records relating
to a form or its instructions must be
retained as long as their contents may
become material in the administration of
any Internal Revenue law. Generally, tax
returns and return information are
confidential, as required by section 6103.
The time needed to complete and file
Form 4506-T will vary depending on
individual circumstances. The estimated
average time is: Learning about the law
or the form, 10 min.; Preparing the form,
12 min.; and Copying, assembling, and
sending the form to the IRS, 20 min.
If you have comments concerning the
accuracy of these time estimates or
suggestions for making Form 4506-T
simpler, we would be happy to hear from
you. You can write to the Internal Revenue
Service, Tax Products Coordinating
Committee, SE:W:CAR:MP:T:T:SP, 1111
Constitution Ave. NW, IR-6526,
Washington, DC 20224. Do not send the
form to this address. Instead, see Where to
file on this page.
NOTICE AND DISCLOSURE REGARDING ATTORNEY REPRESENTATION
(Please retain a copy for your records and return the original with your application)
In connection with your mortgage application and loan closing, Columbia Bank as the lender, will
be providing you, the borrower, with several legal documents that contain various disclosures
and set forth the terms of this transaction. In accordance with state law, we wish to advise
you that: (i) your interests are or may be different than ours and may conflict; (ii) our attorney
represents only us and not you; and therefore, (iii) we recommend that you retain an attorney of
your choice to represent your interests in this transaction.
Please retain a copy for your records and return the original with your application.
I/We acknowledge receipt of this disclosure.
_______________________________
Applicant
Date
_______________________________
Applicant
Date
_______________________________
_______________________________
Applicant
Date
Applicant
Date
________________________________________________________________________
PLEASE LIST YOUR CLOSING AGENT BELOW:
Closing Attorney (must be licensed or authorized to practice law in New Jersey) or Title Company:
______________________________________________________________
Name
______________________________________________________________
Address
___________________________
_________________________
Telephone #
Fax #
Please indicate mortgage product requested and circle NUMBER OF POINTS: 0, 1, 2, 3
___ 30 YR. FIXED
___ 25 YR. FIXED
___ 20 YR. FIXED
___ 15 YR. FIXED
___ 10 YR. FIXED
2/09
___ 30 YR.FIXED BIWEEKLY
___ 20 YR.FIXED BIWEEKLY
___ 15 YR.FIXED BIWEEKLY
ARMS HAVE 30 YEAR TERM
___ 1/1YR. ARM (construction)
___ 3/1 YR. ARM
___ 5/1 YR. ARM
___ 7/1 YR. ARM
___10/1 YR. ARM
SOURCE OF FUNDS STATEMENT
(Complete for purchase transactions)
I/we certify that the source for the initial down payment in the amount of $______________________
was derived from________________________________, ________________________ and the remaining funds
Name of Bank/Source
Account #
for the down payment and closing will be derived from_____________________________________,
Name of Bank/Source
____________________________.
Account #’s
I/we certify that these funds are not borrowed in any way.
_______________
Date
___________________________________
Applicant
___________________________________
Applicant
Rev 01/08
_________________________________
Applicant
__________________________________
Applicant