smartpdfforms.com
Homepage ⇒ Blank Freddie Mac 65 PDF Template
Navigation

Navigating the process of applying for a mortgage can often seem daunting, especially with the myriad forms and documents that are required. Among these, the Freddie Mac Form 65, also known as the Uniform Residential Loan Application, stands out as a critical piece of documentation. This extensive form is designed to collect detailed information from individuals seeking to secure a loan for residential real estate. It covers a wide range of areas, from personal and employment information to financial data, assets, liabilities, and details about the property in question. Importantly, it seeks to understand the applicant's income sources, not just from employment but also from other areas such as retirement funds or alimony, which could influence the ability to qualify for the loan. Additionally, it delves into the financial obligations of the applicant, including current housing expenses and any debts, which play a significant role in determining the loan eligibility. The form further expands to cover the specifics of the loan and property, including the purpose of the loan and detailed information about the property being purchased or refinanced. Through its comprehensive nature, the Freddie Mac 65 form serves as a foundational document that lenders use to assess an applicant's loan qualification, embodying the meticulous scrutiny involved in the mortgage application process.

Preview - Freddie Mac 65 Form

To be completed by the Lender:

 

Lender Loan No./Universal Loan Identifier

Agency Case No.

Uniform Residential Loan Application

Verify and complete the information on this application. If you are applying for this loan with others, each additional Borrower must provide information as directed by your Lender.

Section 1: Borrower Information.This section asks about your personal information and your income from employment and other sources, such as retirement, that you want considered to qualify for this loan.

1a. Personal Information

Name (First, Middle, Last, Suffix)

Alternate Names – List any names by which you are known or any names under which credit was previously received (First, Middle, Last, Suffix)

Social Security Number

 

–

–

 

 

 

 

 

 

 

 

 

 

 

 

 

(or Individual Taxpayer Identification Number)

Date of Birth

 

 

 

Citizenship

 

 

 

(mm/dd/yyyy)

 

 

 

U.S. Citizen

 

 

 

/

 

/

 

 

Permanent Resident Alien

 

 

 

 

 

 

 

Non-Permanent Resident Alien

Type of Credit

I am applying for individual credit.

I am applying for joint credit. Total Number of Borrowers: Each Borrower intends to apply for joint credit. Your initials:

List Name(s) of Other Borrower(s) Applying for this Loan (First, Middle, Last, Suffix) – Use a separator between names

Marital Status

Dependents (not listed by another Borrower)

 

Contact Information

 

 

 

 

 

 

 

 

 

 

 

Married

Number

 

 

 

 

 

 

Home Phone

(

 

)

 

 

 

–

 

 

 

 

 

 

 

Separated

Ages

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cell Phone

(

 

)

 

 

 

–

 

 

 

 

 

 

 

Unmarried

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Work Phone

(

 

)

 

 

 

–

Ext.

(Single, Divorced, Widowed, Civil Union, Domestic Partnership, Registered

 

 

 

 

 

 

Email

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reciprocal Beneficiary Relationship)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

City

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State

 

 

 

 

ZIP

 

 

 

Country

 

 

How Long at Current Address?

 

Years

 

 

Months

Housing

No primary housing expense

 

 

Own

 

Rent ($

 

 

 

/month)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If at Current Address for LESS than 2 years, list Former Address

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

City

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State

 

 

 

 

ZIP

 

 

 

Country

 

 

How Long at Former Address?

 

Years

 

 

Months

Housing

No primary housing expense

 

 

Own

 

Rent ($

 

 

 

/month)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mailing Address – if different from Current Address

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State

 

 

 

ZIP

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1b. Current Employment/Self-Employment and Income

Does not apply

Employer or Business Name

 

 

 

 

 

 

 

 

 

 

Phone

(

 

 

)

 

 

–

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

 

 

 

 

 

 

 

 

 

 

 

State

 

ZIP

 

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Position or Title

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if this statement applies:

Start Date

 

 

/

 

/

 

 

 

 

(mm/dd/yyyy)

 

I am employed by a family member,

 

 

 

 

 

property seller, real estate agent, or other

How long in this line of work?

Years

 

Months

 

 

 

party to the transaction.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if you are the Business

I have an ownership share of less than 25%.

Monthly Income (or Loss)

Owner or Self-Employed

I have an ownership share of 25% or more.

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Monthly Income

Base

$

 

/month

Overtime

$

 

/month

Bonus

$

 

/month

Commission $

 

/month

Military

 

 

 

Entitlements $

 

/month

Other

$

 

/month

TOTAL $

 

 

/month

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

 

1c. IF APPLICABLE, Complete Information for Additional Employment/Self-Employment and Income

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employer or Business Name

 

 

 

 

 

 

 

 

 

 

Phone (

 

)

 

 

–

 

 

Gross Monthly Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

Base

$

 

/month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overtime

$

 

/month

City

 

 

 

 

 

 

 

 

 

 

 

State

 

ZIP

 

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonus

$

 

/month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Position or Title

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if this statement applies:

Commission $

/month

Start Date

 

 

/

 

/

 

 

 

 

(mm/dd/yyyy)

 

I am employed by a family member,

Military

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

property seller, real estate agent, or other

 

 

 

How long in this line of work?

Years

 

Months

 

Entitlements $

/month

 

 

party to the transaction.

 

 

 

 

 

 

 

 

 

 

Other

$

 

/month

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if you are the Business

I have an ownership share of less than 25%.

Monthly Income (or Loss)

 

TOTAL $

 

 

/month

 

Owner or Self-Employed

I have an ownership share of 25% or more.

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1d. IF APPLICABLE, Complete Information for Previous Employment/Self-Employment and Income

 

Does not apply

 

 

 

 

 

 

Provide at least 2 years of current and previous employment and income.

Employer or Business Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

City

 

 

 

 

 

 

 

State

 

ZIP

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Position or Title

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check if you were the Business

Start Date

/

/

 

 

(mm/dd/yyyy)

 

 

 

 

Owner or Self-Employed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End Date

/

/

 

 

(mm/dd/yyyy)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Previous Gross Monthly

Income $

 

/month

1e. Income from Other Sources

Does not apply

Include income from other sources below. Under Income Source, choose from the sources listed here:

• Alimony

• Child Support

• Interest and Dividends

• Notes Receivable

• Royalty Payments

• Unemployment

• Automobile Allowance

• Disability

• Mortgage Credit Certificate

• Public Assistance

• Separate Maintenance

Benefits

• Boarder Income

• Foster Care

• Mortgage Differential

• Retirement

• Social Security

• VA Compensation

• Capital Gains

• Housing or Parsonage

Payments

(e.g., Pension, IRA)

• Trust

• Other

NOTE: Reveal alimony, child support, separate maintenance, or other income ONLY IF you want it considered in determining your qualification for this loan.

Income Source – use list above

Monthly Income

 

 

 

$

 

 

 

$

 

 

 

$

 

 

Provide TOTAL Amount Here

$

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 2: Financial Information — Assets and Liabilities.This section asks about things you own that

are worth money and that you want considered to qualify for this loan. It then asks about your liabilities (or debts) that you pay each month, such as credit cards, alimony, or other expenses.

2a. Assets – Bank Accounts, Retirement, and Other Accounts You Have

Include all accounts below. Under Account Type, choose from the types listed here:

 

• Checking

• Certificate of Deposit

• Stock Options

 

 

 

• Bridge Loan Proceeds

 

• Trust Account

 

 

• Savings

• Mutual Fund

• Bonds

 

 

 

• Individual Development

• Cash Value of Life Insurance

 

• Money Market

• Stocks

 

 

• Retirement (e.g., 401k, IRA)

Account

 

(used for the transaction)

 

 

 

 

 

 

 

 

 

 

 

Account Type – use list above

Financial Institution

 

 

Account Number

 

 

 

Cash or Market Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provide TOTAL Amount Here

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2b. Other Assets and Credits You Have

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Include all other assets and credits below. Under Asset or Credit Type, choose from the types listed here:

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

Credits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

• Proceeds from Real Estate

• Proceeds from Sale of

• Unsecured Borrowed Funds

• Earnest Money

• Relocation Funds

• Sweat Equity

 

Property to be sold on or

Non-Real Estate Asset

• Other

 

 

 

• Employer Assistance

• Rent Credit

 

 

• Trade Equity

 

before closing

• Secured Borrowed Funds

 

 

 

• Lot Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset or Credit Type – use list above

 

 

 

 

 

 

 

 

 

 

 

Cash or Market Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provide TOTAL Amount Here

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2c. Liabilities – Credit Cards, Other Debts, and Leases that You Owe

 

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

List all liabilities below (except real estate) and include deferred payments. Under Account Type, choose from the types listed here:

• Revolving (e.g., credit cards)

• Installment (e.g., car, student, personal loans)

• Open 30-Day (balance paid monthly) • Lease (not real estate) • Other

 

 

 

 

 

 

 

Account Type –

 

 

 

 

To be paid off at

 

use list above

Company Name

Account Number

Unpaid Balance

or before closing

Monthly Payment

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

2d. Other Liabilities and Expenses

Does not apply

Include all other liabilities and expenses below. Choose from the types listed here:

• Alimony

• Child Support • Separate Maintenance • Job Related Expenses

• Other

Monthly Payment

$

$

$

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 3: Financial Information — Real Estate. This section asks you to list all properties you currently own

 

and what you owe on them.

I do not own any real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3a. Property You Own

 

If you are refinancing, list the property you are refinancing FIRST.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

City

 

 

 

 

 

 

 

 

State

 

 

ZIP

 

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Status: Sold,

Intended Occupancy:

Monthly Insurance,Taxes,

 

For 2-4 Unit Primary or Investment Property

 

 

 

 

 

Investment, Primary

Association Dues, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pending Sale,

 

Monthly Rental

 

For LENDER to calculate:

 

 

 

 

 

Residence, Second

if not included in Monthly

 

 

 

Property Value

or Retained

 

Income

 

Net Monthly Rental Income

 

Home, Other

 

Mortgage Payment

 

 

$

 

 

 

 

 

 

 

 

$

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loans on this Property

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly

 

 

 

 

 

 

 

 

 

Type: FHA, VA,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

 

 

To be paid off at

 

Conventional,

Credit Limit

Creditor Name

 

Account Number

Payment

Unpaid Balance

or before closing

 

USDA-RD, Other

(if applicable)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3b. IF APPLICABLE, Complete Information for Additional Property

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

 

 

 

 

 

 

 

 

State

 

 

ZIP

 

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Status: Sold,

Intended Occupancy:

Monthly Insurance, Taxes,

 

For 2-4 Unit Primary or Investment Property

 

 

 

 

 

Investment, Primary

Association Dues, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pending Sale,

 

Monthly Rental

 

For LENDER to calculate:

 

 

 

 

 

Residence, Second

if not included in Monthly

 

 

 

Property Value

or Retained

 

Income

 

Net Monthly Rental Income

 

Home, Other

 

Mortgage Payment

 

 

$

 

 

 

 

 

 

 

 

$

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loans on this Property

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly

 

 

 

 

 

 

 

 

 

Type: FHA, VA,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage

 

 

 

To be paid off at

 

Conventional,

Credit Limit

Creditor Name

 

Account Number

Payment

Unpaid Balance

or before closing

 

USDA-RD, Other

(if applicable)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3c. IF APPLICABLE, Complete Information for Additional Property

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

Street

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

 

 

 

 

 

 

 

 

State

 

 

ZIP

 

 

 

Country

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Status: Sold,

Intended Occupancy:

Monthly Insurance, Taxes,

 

For 2-4 Unit Primary or Investment Property

 

 

 

 

 

Investment, Primary

Association Dues, etc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pending Sale,

 

Monthly Rental

 

For LENDER to calculate:

 

Property Value

Residence, Second

if not included in Monthly

 

 

 

or Retained

Home, Other

 

Mortgage Payment

 

Income

 

Net Monthly Rental Income

 

$

 

 

 

 

 

 

 

 

$

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Loans on this Property

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly

 

 

 

 

 

 

 

 

 

Type: FHA, VA,

 

 

 

 

 

 

 

 

 

 

 

Account Number

Mortgage

 

 

 

To be paid off at

 

Conventional,

Credit Limit

Creditor Name

 

Payment

Unpaid Balance

or before closing

 

USDA-RD, Other

(if applicable)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 4: Loan and Property Information. This section asks about the loan’s purpose and the property you want to purchase or refinance.

4a. Loan and Property Information

Loan Amount $

 

 

Loan Purpose

Purchase

Refinance

Other (specify)

 

 

 

 

 

Property Address Street

 

 

 

 

 

 

 

 

 

 

 

Unit #

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City

 

 

 

 

 

State

 

ZIP

 

 

County

 

 

 

Number of Units

 

Property Value $

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupancy

Primary Residence

Second Home

Investment Property

FHA Secondary Residence

 

 

 

 

1. Mixed-Use Property. If you will occupy the property, will you set aside space within the property to operate

NO

YES

your own business? (e.g., daycare facility, medical office, beauty/barber shop)

 

 

 

 

 

 

2. Manufactured Home. Is the property a manufactured home? (e.g., a factory built dwelling built on a permanent chassis)

NO

YES

 

 

 

 

 

 

 

4b. Other New Mortgage Loans on the Property You are Buying or Refinancing

Does not apply

 

 

 

 

 

 

 

 

 

 

 

Loan Amount/

Credit Limit

 

Creditor Name

 

Lien Type

 

 

 

Monthly Payment

 

Amount to be Drawn

(if applicable)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Lien

Subordinate Lien

$

 

 

 

$

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Lien

Subordinate Lien

$

 

 

 

$

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4c. Rental Income on the Property You Want to Purchase

 

For Purchase Only

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Complete if the property is a 2-4 Unit Primary Residence or an Investment Property

 

 

Amount

 

 

 

 

 

 

 

 

 

 

 

 

Expected Monthly Rental Income

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For LENDER to calculate: Expected Net Monthly Rental Income

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

4d. Gifts or Grants You Have Been Given or Will Receive for this Loan

 

Does not apply

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Include all gifts and grants below. Under Source, choose from the sources listed here:

 

 

 

 

 

• Community Nonprofit

• Federal Agency

• Relative

 

 

 

• State Agency

 

• Lender

 

 

 

• Employer

• Local Agency

• Religious Nonprofit

 

• Unmarried Partner

• Other

 

 

 

 

 

 

 

 

 

 

 

Asset Type: Cash Gift, Gift of Equity, Grant

Deposited/Not Deposited

Source – use list above

Cash or Market Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposited

 

Not Deposited

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposited

 

Not Deposited

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 5: Declarations. This section asks you specific questions about the property, your funding, and your past financial history.

5a. About this Property and Your Money for this Loan

A. Will you occupy the property as your primary residence?

NO

YES

If YES, have you had an ownership interest in another property in the last three years?

NO

YES

If YES, complete (1) and (2) below:

 

 

(1)What type of property did you own: primary residence (PR), FHA secondary residence (SR), second home (SH), or investment property (IP)?

(2)How did you hold title to the property: by yourself (S), jointly with your spouse (SP), or jointly with another person (O)?

B. If this is a Purchase Transaction: Do you have a family relationship or business affiliation with the seller of the property?

NO

YES

C.Are you borrowing any money for this real estate transaction (e.g., money for your closing costs or down payment) or

 

 

obtaining any money from another party, such as the seller or realtor, that you have not disclosed on this loan application?

 

NO

YES

 

 

If YES, what is the amount of this money?

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

D. 1. Have you or will you be applying for a mortgage loan on another property (not the property securing this loan) on or

 

NO

YES

 

 

before closing this transaction that is not disclosed on this loan application?

 

 

 

 

 

 

 

 

 

 

 

 

 

2. Have you or will you be applying for any new credit (e.g., installment loan, credit card, etc.) on or before closing this loan that

 

NO

YES

 

 

is not disclosed on this application?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E.

Will this property be subject to a lien that could take priority over the first mortgage lien, such as a clean energy lien paid

 

NO

YES

 

 

through your property taxes (e.g., the Property Assessed Clean Energy Program)?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5b. About Your Finances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

F.

Are you a co-signer or guarantor on any debt or loan that is not disclosed on this application?

 

 

NO

YES

 

 

 

 

 

 

 

 

 

 

 

G.

Are there any outstanding judgments against you?

 

 

 

 

NO

YES

 

 

 

 

 

 

 

 

 

 

 

H.

Are you currently delinquent or in default on a Federal debt?

 

 

 

 

NO

YES

 

 

 

 

 

 

 

 

 

I.

Are you a party to a lawsuit in which you potentially have any personal financial liability?

 

 

NO

YES

 

 

 

 

 

 

 

 

 

J.

Have you conveyed title to any property in lieu of foreclosure in the past 7 years?

 

 

NO

YES

 

 

 

 

 

 

 

K. Within the past 7 years, have you completed a pre-foreclosure sale or short sale, whereby the property was sold to a

 

NO

YES

 

 

third party and the Lender agreed to accept less than the outstanding mortgage balance due?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

L.

Have you had property foreclosed upon in the last 7 years?

 

 

 

 

NO

YES

 

 

 

 

 

 

 

 

 

 

M. Have you declared bankruptcy within the past 7 years?

 

 

 

 

NO

YES

 

 

If YES, identify the type(s) of bankruptcy:

Chapter 7

Chapter 11

Chapter 12

Chapter 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 6: Acknowledgments and Agreements. This section tells you about your legal obligations when you sign this application.

Acknowledgments and Agreements

Definitions:

• If this application is created as (or converted into) an “electronic

• "Lender" includes the Lender’s agents, service providers, and any of

application”, I consent to the use of “electronic records” and

their successors and assigns.

“electronic signatures” as the terms are defined in and governed by

• "Other Loan Participants" includes (i) any actual or potential owners of

applicable Federal and/or state electronic transactions laws.

a loan resulting from this application (the “Loan”), (ii) acquirers of

• I intend to sign and have signed this application either using my:

any beneficial or other interest in the Loan, (iii) any mortgage insurer,

(a) electronic signature; or

(iv) any guarantor, (v) any servicer of the Loan, and (vi) any of these

(b) a written signature and agree that if a paper version of this

parties' service providers, successors or assigns.

application is converted into an electronic application, the

I agree to, acknowledge, and represent the following:

application will be an electronic record, and the representation

of my written signature on this application will be my binding

(1) The Complete Information for this Application

electronic signature.

• The information I have provided in this application is true, accurate,

• I agree that the application, if delivered or transmitted to the Lender

and complete as of the date I signed this application.

or Other Loan Participants as an electronic record with my electronic

• If the information I submitted changes or I have new information

signature, will be as effective and enforceable as a paper application

before closing of the Loan, I must change and supplement this

signed by me in writing.

application, including providing any updated/supplemented real

(5) Delinquency

estate sales contract.

• The Lender and Other Loan Participants may report information about

• For purchase transactions: The terms and conditions of any real

my account to credit bureaus. Late payments, missed payments, or

estate sales contract signed by me in connection with this application

other defaults on my account may be reflected in my credit report and

are true, accurate, and complete to the best of my knowledge and

will likely affect my credit score.

belief. I have not entered into any other agreement, written or oral, in

• If I have trouble making my payments I understand that I may contact

connection with this real estate transaction.

a HUD-approved housing counseling organization for advice about

• The Lender and Other Loan Participants may rely on the information

actions I can take to meet my mortgage obligations.

contained in the application before and after closing of the Loan.

 

• Any intentional or negligent misrepresentation of information may

(6) Authorization for Use and Sharing of Information

result in the imposition of:

By signing below, in addition to the representations and agreements

(a) civil liability on me, including monetary damages, if a

made above, I expressly authorize the Lender and Other Loan

person suffers any loss because the person relied on any

Participants to obtain, use, and share with each other (i) the loan

misrepresentation that I have made on this application, and/or

application and related loan information and documentation, (ii) a

(b) criminal penalties on me including, but not limited to, fine or

consumer credit report on me, and (iii) my tax return information, as

imprisonment or both under the provisions of Federal law

necessary to perform the actions listed below, for so long as they have

(18 U.S.C. §§ 1001 et seq.).

an interest in my loan or its servicing:

(2) The Property’s Security

(a) process and underwrite my loan;

(b) verify any data contained in my consumer credit report, my

The Loan I have applied for in this application will be secured by

loan application and other information supporting my loan

a mortgage or deed of trust which provides the Lender a security

application;

interest in the property described in this application.

(c) inform credit and investment decisions by the Lender

(3) The Property’s Appraisal, Value, and Condition

and Other Loan Participants;

• Any appraisal or value of the property obtained by the Lender is

(d) perform audit, quality control, and legal compliance analysis

for use by the Lender and Other Loan Participants.

and reviews;

• The Lender and Other Loan Participants have not made any

(e) perform analysis and modeling for risk assessments;

representation or warranty, express or implied, to me about the

(f) monitor the account for this loan for potential delinquencies and

property, its condition, or its value.

determine any assistance that may be available to me; and

 

(4) Electronic Records and Signatures

(g) other actions permissible under applicable law.

• The Lender and Other Loan Participants may keep any paper record

 

and/or electronic record of this application, whether or not the Loan

 

is approved.

 

Borrower Signature

 

Date (mm/dd/yyyy)

/

/

 

 

 

 

 

 

 

Additional Borrower Signature

 

Date (mm/dd/yyyy)

/

/

 

 

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

– Print name of enrolled

Section 7: Military Service. This section asks questions about your (or your deceased spouse's) military service.

Military Service of Borrower

Military Service – Did you (or your deceased spouse) ever serve, or are you currently serving, in the United States Armed Forces? NO YES

If YES, check all that apply:

Currently serving on active duty with projected expiration date of service/tour

/

/

(mm/dd/yyyy)

Currently retired, discharged, or separated from service

Only period of service was as a non-activated member of the Reserve or National Guard

Surviving spouse

Section 8: Demographic Information. This section asks about your ethnicity, sex, and race.

Demographic Information of Borrower

The purpose of collecting this information is to help ensure that all applicants are treated fairly and that the housing needs of communities and neighborhoods are being fulfilled. For residential mortgage lending, Federal law requires that we ask applicants for their demographic information (ethnicity, sex, and race) in order to monitor our compliance with equal credit opportunity, fair housing, and home mortgage disclosure laws. You are not required to provide this information, but are encouraged to do so. You may select one or more designations for "Ethnicity" and one or more designations for "Race." The law provides that we may not discriminate on the basis of this information, or on whether you choose to provide it. However, if you choose not to provide the information and you have made this application in person, Federal regulations require us to note your ethnicity, sex, and race on the basis of visual observation or surname. The law also provides that we may not discriminate on the basis of age or marital status information you provide in this application. If you do not wish to provide some or all of this information, please check below.

Ethnicity: Check one or more

Hispanic or Latino

Mexican Puerto Rican Cuban

Other Hispanic or Latino – Print origin:

For example: Argentinean, Colombian, Dominican, Nicaraguan, Salvadoran, Spaniard, and so on.

Not Hispanic or Latino

I do not wish to provide this information

Sex

Female

Male

I do not wish to provide this information

Race: Check one or more

American Indian or Alaska Native or principal tribe :

Asian

 

 

Asian Indian

Chinese

Filipino

Japanese

Korean

Vietnamese

Other Asian – Print race:

 

For example: Hmong, Laotian, Thai, Pakistani, Cambodian, and so on.

Black or African American

 

 

Native Hawaiian or Other Pacific Islander

 

Native Hawaiian

Guamanian or Chamorro

Samoan

Other Pacific Islander – Print race:

For example: Fijian, Tongan, and so on.

White

I do not wish to provide this information

To Be Completed by Financial Institution (for application taken in person):

Was the ethnicity of the Borrower collected on the basis of visual observation or surname?

NO

YES

 

Was the sex of the Borrower collected on the basis of visual observation or surname?

NO

YES

 

Was the race of the Borrower collected on the basis of visual observation or surname?

NO

YES

 

 

 

 

 

 

The Demographic Information was provided through:

 

 

 

 

 

 

 

 

Face-to-Face Interview (includes Electronic Media w/ Video Component)

Telephone Interview

Fax or Mail

Email or Internet

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Section 9: Loan Originator Information. To be completed by your Loan Originator.

Loan Originator Information

Loan Originator Organization Name

Address

Loan Originator Organization NMLSR ID#

 

State License ID#

 

 

 

 

 

 

 

Loan Originator Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Originator NMLSR ID#

 

 

State License ID#

 

 

 

 

 

 

 

 

Email

 

 

 

Phone (

)

 

 

 

–

 

Signature

 

 

Date (mm/dd/yyyy)

/

 

/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower Name:

Uniform Residential Loan Application

Freddie Mac Form 65 • Fannie Mae Form 1003

Effective 1/2021

Download Freddie Mac 65 PDF Form

Form Data

Fact Detail
Form Name and Number Freddie Mac Form 65, also known as Fannie Mae Form 1003
Effective Date Effective 1/2021
Purpose Uniform Residential Loan Application
Borrower Information Asks about personal information, income, employment, and other sources of income to qualify for the loan.
Financial Information Details assets, liabilities, real estate owned, and other debts or expenses.
Loan and Property Information Covers the purpose of the loan, property details, new mortgage loans, rental income, and gifts or grants received.

Instructions on Utilizing Freddie Mac 65

Filling out the Freddie Mac 65 form, also known as the Uniform Residential Loan Application, is a necessary step in applying for a mortgage. This comprehensive form collects detailed information about the borrower's personal and financial situation, which lenders use to make decisions on lending. It's important to fill out the form accurately and thoroughly to improve your chances of being approved for the loan. The following steps provide guidance on how to complete this form correctly.

  1. Start with Section 1: Borrower Information. Fill in your full legal name, including any alternate names used previously. Provide your Social Security Number or Individual Taxpayer Identification Number, date of birth, citizenship status, and type of credit you are applying for (individual or joint).
  2. Enter the total number of borrowers and if applying for joint credit, include the names of other borrowers.
  3. Detail your marital status and if you have any dependents not listed by another borrower, including their ages.
  4. Provide your contact information, including home, cell, and work phone numbers, and your email address.
  5. Fill in your current residential address, how long you have lived there, and your housing situation (own or rent).
  6. If you have lived at your current address for less than 2 years, provide details of your former address.
  7. For Section 1b, detail your current employment, including employer name, your position, start date, and your gross monthly income from various sources like base salary, overtime, and bonuses.
  8. If applicable, complete Section 1c and 1d for additional employment or previous employment, following the same format as Section 1b.
  9. In Section 1e, list any income from other sources you wish to be considered for this loan, like alimony or child support. Specify the source and monthly income.
  10. Move to Section 2: Financial Information — Assets and Liabilities. List all bank accounts, retirement accounts, and any other financial assets under 2a. Include the account type, institution, number, and value.
  11. Under 2b, mention other assets or credits, detailing the type and cash or market value.
  12. In 2c, list all liabilities excluding real estate. Include type, company name, account number, unpaid balance, and monthly payment.
  13. Include any additional liabilities and expenses under 2d.
  14. For homeowners, Section 3: Financial Information — Real Estate requires listing properties owned. Provide details such as address, status, occupancy, monthly costs, mortgage loans, and rental income if applicable.
  15. In Section 4: Loan and Property Information, describe the loan's purpose, the property address, the expected loan amount, property value, and occupancy details. Highlight if the property is mixed-use or manufactured and any expected rental income.
  16. Detail any gifts or grants under 4d, specifying the source and amount.

Once all sections are completed accurately, review the information to ensure its correctness. Incorrect or incomplete information can delay the processing of your loan application. Submit the form as directed by your lender.

Obtain Answers on Freddie Mac 65

When navigating the home-buying process, understanding the paperwork is crucial, and the Freddie Mac Form 65, also known as the Uniform Residential Loan Application (URLA), is a key part of this. Here are some common questions that arise about this form:

  1. What is the purpose of Freddie Mac Form 65?

The Freddie Mac Form 65, or URLA, is designed to collect detailed information from potential borrowers to determine their eligibility for a mortgage. This form gathers personal information, income details, and financial information about assets and liabilities, as well as information about the property being purchased or refinanced. It's a standard form used across the industry to ensure lenders have the necessary information to make informed decisions about loan approvals.

  1. Who needs to complete the Freddie Mac Form 65?

Anyone applying for a mortgage loan is required to complete the Freddie Mac Form 65. If there are co-borrowers on the loan, such as a spouse or partner, they must also provide their information on the application. This ensures that the lender has a complete picture of the financial situation of all parties involved in the loan.

  1. What sections are included in the Freddie Mac Form 65?

The form is divided into several sections, each focusing on different aspects of the borrower's information:

  • Section 1: Borrower Information - Collects personal details, employment history, and income sources.
  • Section 2: Financial Information - Details assets, liabilities, and any other financial obligations or assets.
  • Section 3: Real Estate - For listing properties owned by the borrower and related financial details.
  • Section 4: Loan and Property Information - Specifics about the loan being applied for and details about the property.

Each section is designed to provide the lender with a comprehensive understanding of the borrower's financial health and the specifics of the loan request.

  1. Are there any tips for completing the Freddie Mac Form 65?

When filling out this form, accuracy and completeness are key. Here are some tips:

  • Double-check that all personal information is correct, including your name, Social Security number, and contact information.
  • Be thorough when listing your assets and liabilities. Overlooking details can affect your loan qualification.
  • Ensure that your employment and income information is accurate and up-to-date to reflect your ability to repay the loan.
  • If you're unsure about any section, consult with your lender or a mortgage advisor to avoid errors or omissions.

Completing the Freddie Mac Form 65 carefully and accurately is essential in the mortgage application process, helping lenders assess your loan eligibility and offering a clear picture of your financial status.

Common mistakes

Filling out the Freddie Mac Form 65, also known as the Uniform Residential Loan Application, is a critical step in the mortgage application process. However, errors can occur that may affect the outcome of the loan application. Here are six common mistakes to avoid:

  1. Incorrect Personal Information: Being inaccurate with personal details such as your name, Social Security Number, or date of birth can lead to significant delays. It’s crucial to double-check these details for accuracy to ensure your identity can be verified without any issues.
  2. Omitting Previous Addresses: If you’ve lived at your current address for less than two years, you must provide information about your former addresses. Forgetting to include this information can create gaps in your residential history, raising concerns for lenders.
  3. Inaccurate Financial Information: When detailing your income, assets, and liabilities, accuracy is imperative. Underreporting income, forgetting to list certain assets, or omitting liabilities can misrepresent your financial situation. Such inaccuracies can either lead to a rejection of the application or approve you for a loan amount that isn't aligned with your actual financial capacity.
  4. Failure to Report Additional Employment: If you have more than one source of income from employment or self-employment, every job must be listed. Not doing so can result in a lower income calculation, potentially affecting the loan amount for which you qualify.
  5. Overlooking Other Income Sources: Forgetting to include income from other sources like alimony, child support, or retirement benefits can also lead to an underestimation of your total income. Remember, you can choose to reveal such incomes only if you want them considered for your loan qualification.
  6. Not Specifying the Type of Loan and Property Information Accurately: The loan application asks for specifics about the type of loan you're applying for and details about the property. Misunderstandings or incorrect selections in this section can mislead lenders about your intentions or the property's intended use, leading to incorrect processing of your application.

Making sure all sections of the Freddie Mac Form 65 are filled accurately and completely is essential for a smooth loan application process. Taking the time to review your application carefully before submission can help avoid these common pitfalls.

Documents used along the form

When completing the Freddie Mac Form 65, also known as the Uniform Residential Loan Application, applicants might find themselves navigating a sea of paperwork, each document playing a critical role in the mortgage process. Understanding these accompanying forms can simplify the process, ensuring you're well-prepared for the journey ahead. Below are five other forms and documents often used in tandem with the Freddie Mac Form 65, providing a comprehensive view of your financial landscape to potential lenders.

  • IRS Form 4506-T: This form is used to request tax return transcripts from the Internal Revenue Service (IRS). Lenders use it to verify the income information provided by applicants on their loan application. It ensures the financial details offered are accurate and truthful.
  • Credit Report Authorization Form: Before a lender can pull your credit report, you must give them permission. This authorization form allows the lender to retrieve your credit history from the major credit bureaus, helping them assess your creditworthiness and interest rates.
  • Loan Estimate and Closing Disclosure Forms: Once you've applied for a mortgage, lenders are required to provide a Loan Estimate form, which outlines the estimated costs, including interest rates and closing costs, associated with your loan. The Closing Disclosure form, received closer to the finalization of the loan, offers the final details of your mortgage terms.
  • Appraisal Report: This report is generated after a professional appraiser evaluates the property you wish to purchase. It assures the lender that the property's value supports the loan amount requested. The appraisal report is crucial for loan approval and determining loan-to-value ratios.
  • Title Report: Before issuing a loan, lenders need to ensure there are no legal issues regarding the property’s ownership. The Title Report offers a detailed history of the property, including any existing liens, to ensure a clear transfer of ownership.

Gathering these documents alongside your Freddie Mac Form 65 can appear daunting at first glance. However, each plays a vital role in providing a clear picture of your financial and credit status, ultimately assisting lenders in making informed decisions regarding your loan application. Being prepared with these documents can streamline the application process, bringing you one step closer to securing your new home.

Similar forms

  • The Fannie Mae Form 1003 is strikingly similar to the Freddie Mac 65, serving the same primary purpose: to gather comprehensive information from a borrower applying for a mortgage. Both forms collect detailed personal, employment, and financial data, including income, assets, and liabilities, to assess the borrower's creditworthiness and eligibility for a loan.

  • The Uniform Residential Loan Application (URLA) aligns closely with the content and structure of the Freddie Mac 65. Designed to standardize the mortgage application process across the industry, it includes sections on borrower information, residential and employment history, financial assets and liabilities, and the specifics of the loan and property. This form is a cornerstone in the mortgage application process, facilitating a uniform approach to evaluating applicants.

  • The VA Form 26-1802a, used for loans guaranteed by the Department of Veterans Affairs, shares similarities in the type of information collected from applicants. It requests personal data, employment and income details, and information on owned real estate, which is necessary to determine the service member's entitlement and qualification for a VA loan. Though tailored to veterans, the underlying purpose mirrors that of the Freddie Mac 65: to gather exhaustive information to make lending decisions.

  • The USDA Form RD 410-4, required for loans supported by the USDA Rural Development program, similarly collects detailed applicant information including personal, financial, and property details. This form is specific to assessing eligibility and financial capacity for rural housing loans, demonstrating the same foundational goal of collecting extensive data to evaluate the borrower’s qualifications.

  • The FHA Loan Application encapsulates detailed borrower information very much like the Freddie Mac 65 does for conventional loans. It seeks specifics on the borrower's financial standing, employment history, and personal details to establish eligibility for an FHA loan, focusing particularly on borrowers with moderate to lower income or those who might not qualify for conventional financing.

  • The HELOC (Home Equity Line of Credit) Application, while oriented towards existing homeowners seeking to tap into their home's equity, also requires a comprehensive set of information similar to what the Freddie Mac 65 form collects. Applicants must provide personal information, financial standing, and details about their property to secure a line of credit against their home’s value.

Dos and Don'ts

Filling out the Freddie Mac Form 65, also known as the Uniform Residential Loan Application, is a critical step in the mortgage application process. It requires your full attention to detail. Below are some dos and don’ts to help guide you through accurately completing the form.

Things you should do:
  • Review the form thoroughly before you start filling it out. This preparatory step ensures you understand what information is required and can gather necessary documents.
  • Provide complete and accurate personal information. Section 1 asks for personal details including your employment and income. Ensuring this information is accurate is crucial for the assessment of your loan application.
  • Disclose all financial information. Section 2 and Section 3 cover assets, liabilities, and real estate owned. Failing to disclose any part of your financial situation could affect your loan approval and terms.
  • Specify the type of credit you are applying for whether it's an individual or joint credit. This affects the evaluation of your application and what additional information may be necessary.
  • Sign and date the application. An unsigned or undated application is incomplete and can delay the processing of your mortgage application.
Things you shouldn't do:
  • Avoid guessing on financial details. Estimates can lead to inaccuracies in your application. Use actual figures from your financial documents wherever possible.
  • Don’t leave sections blank if they apply to you. Incomplete information can lead to delays or even rejection of your application.
  • Refrain from providing incomplete employment history. Section 1d requires at least two years of employment history. Skipping or partially filling in this information could negatively impact your application.
  • Don't forget to include all sources of income in Section 1e. Failing to report any secondary sources of income can misrepresent your financial situation.
  • Avoid omitting any liabilities or debts in Section 2c and 2d. This includes credit cards, loans, alimony, child support, etc. Accurate disclosure is imperative for a fair assessment of your financial standing.

By adhering to these guidelines, you’ll be better prepared to complete the Freddie Mac Form 65 and move forward in the loan application process with confidence.

Misconceptions

Understanding the Freddie Mac Form 65, also known as the Uniform Residential Loan Application, can sometimes be confusing. There are several misconceptions about this form that need to be clarified to help both borrowers and lenders navigate the mortgage application process more effectively.

  • It's only for Freddie Mac loans: A common misconception is that Form 65 is exclusive to Freddie Mac loans. In reality, this form is used widely across the industry, including for Fannie Mae loans, not just for Freddie Mac.

  • Joint credit applications require multiple forms: Some believe that when applying for joint credit, each borrower must fill out a separate Form 65. Actually, the form is designed to accommodate joint borrowers, and there are sections specifically for each applicant's information.

  • It's only for purchasing a home: While purchasing a property is a common reason to use the form, Form 65 also covers refinancing and home improvement loans. This versatility is often overlooked.

  • Personal information isn't important: Every section of Form 65 is essential, including personal information. The form not only assesses financial health but also verifies identity, citizenship status, and much more, all crucial for loan approval.

  • Income from all sources isn’t necessary: Another misconception is that only traditional employment income matters. The form actually requests income from all sources, including retirement, alimony, or rental income, to provide a comprehensive view of the borrower's financial situation.

  • Assets and liabilities sections are just for show: Far from being trivial, these sections are critical. Lenders use this information to assess a borrower's net worth and ability to repay the loan, affecting loan approval and conditions.

  • Real estate owned section is not crucial if you own no property: Whether or not you currently own real estate, this section helps lenders understand your experience with property and credit, especially if you’re buying or refinancing a home.

  • Sections on gifts or grants are optional: Disclosing any gifts or grants for the loan is actually mandatory when relevant. This information helps lenders evaluate the true source of your down payment or financial reserves.

Clearing up these misconceptions about the Freddie Mac Form 65 can lead to a smoother loan application process, ensuring both borrowers and lenders are on the same page. Always provide complete and accurate information to increase the chances of loan approval.

Key takeaways

Filling out the Freddie Mac 65 form, also recognized as the Uniform Residential Loan Application, is a critical step in the mortgage application process. Here are key takeaways to ensure accuracy and completeness.

  • Detailed Personal and Employment Information Is Required: The form asks for comprehensive details about the borrower's personal information, including current and prior employment, income sources, and any affiliations with real estate transactions. Each borrower must thoroughly complete this section to aid the lender's assessment process.
  • Indicate All Sources of Income: Besides regular employment, the form allows borrowers to list various other income sources, such as retirement, alimony, child support, and others. Disclosing all applicable income sources can positively impact the loan qualification process.
  • Assets and Liabilities Must Be Disclosed: The form requires a detailed listing of the borrower's assets and liabilities. This includes bank accounts, stocks, real estate, credit cards, and other debts. Accurate disclosure of financial standing gives lenders a clearer picture of a borrower's financial health.
  • Real Estate Owned: For those who already own property, the form asks for detailed information regarding these assets. It is vital to list all properties owned, including their status, mortgage details, and potential rental income, which can impact the loan decision.
  • Loan and Property Information: The section dedicated to the specifics of the loan and property being applied for is crucial for lenders to understand the borrower's intentions. Whether it's for purchasing, refinancing, or securing a loan for investment purposes, specifying the desired outcome helps in aligning the loan product with the borrower's needs.

In essence, the Freddie Mac 65 form is a vital document that requires careful and thorough completion by potential borrowers. It plays a significant role in the lender's decision-making process, making it imperative to approach this task with diligence and accuracy.

Please rate Blank Freddie Mac 65 PDF Template Form
5
Incredible
15 Votes

Popular PDF Forms

1702 - This form is critical for calculating the correct amount of income tax to be withheld from an employee's salary.

Ohio Safe - Enhances buyers' confidence in the purchasing process by providing verified mileage information.