Fillable Non-QM Borrower Affirmation-Bank Statements

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Non-QM Borrower Affirmation-Bank Statements

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Borrower Affirmation-Bank
Statements 1/26/21 Page 1 of 2
Non-QM Borrower Affirmation-Bank Statements
Date: _________________ Loan Number: ________________
Borrower(s) Name(s):______________________
Property Address: __________________________________________
Recitals:
1.) I/We have requested the following loan type (please check):
Fixed Rate Mortgage (“FRM”): For ___ months (loan term)
FRM with Interest Only Feature (“IO FRM”): For ___months (loan term), with interest only
payments for ___ months (“Interest Only Period”)
Adjustable Rate Mortgage (“ARM”): For ___ months (loan term), with an initial fixed rate of
interest for ___ months (“Fixed Rate Period”)
ARM with Interest Only Feature (“IO ARM”): For ___months (loan term), with a Fixed Rate
Period of ___ months, and an Interest Only Period of ___ months
2.) My/Our initial principal and/or interest payment will be $______ per month. If I/we have elected an
ARM, I/we understand that at the end of the Fixed Rate Period, my/our interest rate may adjust
annually in accordance with the terms of the note that I am/we are signing. If I/we have elected an
IO FRM or IO ARM, I/we understand that at the end of the Interest Only Period, in addition to any
changes that may result from an adjustment to rate, my/our loan will convert to amortize the
existing principal balance over the remaining term of the loan in accordance with the terms of the
note and the payments may change as a result. The amortizing payment may adjust annually as
the rate adjusts.
3.) In addition to the principal and interest payment, I am/we are aware I/we have additional recurring
expenses associated with the property. If these payments are to be escrowed for, they will be
included with the monthly payment I am/we are to make. If not, I/we will make them separately.
The monthly payments are estimated to be as follows (strike any that do not apply):
a. Property Taxes: $______ per month
b. Hazard Insurance: $______ per month
c. Flood Insurance: $______ per month
d. Mortgage Insurance: $______ per month
e. Homeowner’s Association Dues: $______ per month
f. Other: $______ per month
Affirmation:
Now, therefore, I/we affirm the following:
1.) I/We reasonably believe I/we can afford to make the monthly payment(s) on the loan and for this
property along with any other debt service requirements that I/we have.
2.) I am/We are not aware of anything that will occur in the future that will affect my/our ability to make
payments for this loan, payments related to this property, or service any other debt for which I/we
are obligated.
Borrower Affirmation-Bank
Statements 1/26/21 Page 2 of 2
3.) I/We understand that I/we have supplied an alternative means of documenting my/our ability repay
this loan as compared with traditional documentation (tax returns, W-2s, K-1’s, etc.). I/We
understand that had I/we supplied traditional income documentation, I/we may have been able to
qualify for a loan program with more favorable terms.
4.) I/We certify that the above information and the information on the final Uniform Residential Loan
Application (Form 1003) is true and correct as of this day and that it represents an accurate picture
of my/our financial status.
Note:
If there is any discrepancy or conflict between the terms of the loan as contemplated in this document and
the terms listed in the promissory note, mortgage/deed of trust, and/or any riders or addenda annexed
thereto and made a part thereof, the latter set of documents shall prevail.
By executing this document, I/We confirm that we have read this document, understand the terms
contained therein, and intend to move forward with the transaction.
Signed this the ___ Day of ____________, 20__
_______________________________
Borrower name
_______________________________
Borrower name
_______________________________
Borrower name
_______________________________
Borrower name
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Non-QM Borrower Affirmation-Bank Statements

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Completed 28 January 2022

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