Inter-Lake Mortgage Company, LLC

Loan Application for a Mortgage
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Michigan

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Inter-Lake Mortgage Company, LLC
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Mortgage Application Page 2

Rent Letter: The content of the rent letter should request:

  • That the owner/manger state the length of time that the borrower has rented.
  • The amount of rent paid monthly.
  • The payment history of the borrower, whether it is satisfactory or unsatisfactory.
  • If the borrower has been living in the current residence for less than two years, you should estimate a history of previous address.
  • Co-Borrower Section: Repeat the above section.
  1. Employment Information
  • Name & Address of Employer: Name of Employer and Their Address
  • Check Box: If the borrower is Self-employed
  • Yrs. On this job (or business): Number of years on job or business
  • Yrs. Employed in this line of work/profession: Total number of yrs. In this type of Career or Business
  • Position/Title/Type of Business: Name of your position of the borrower.
  • Business Phone: The number to get a hold of the borrower, sample: (000) 000-0000
  • Former Employer: If current position is less than two years, repeat above steps.
  • Former Employer: If former and current position is less than two years, repeat above steps.
  • Co-Borrower employment section: Repeat Borrower’s employment section.

Minimum 2 years in the same line of work

  1. Monthly Income and Combined Housing Expense Information
  • Income Section: See Income for Borrower and Co-Borrower
  • Combined Monthly Housing Expense: Present Address, Total breakdown owed each month, include all parts.
  • Proposed Monthly Housing Expense: New amounts of the Total breakdown, Purpose is to save the borrower money. Should show a reduction of debt load.
  • Described Other Income: This section is used to not reveal for repaying this loan.
    • First Part, whether it’s the borrower or Co-borrower.
    • The Item Description
    • The Monthly Amount
  1. Assets and Liabilities

Check Box: Check the box must appropriate.

  1. Assets Section:
  • Cash used for down payment., where held, and the amount
  • Checking and/or saving accounts: Name, Address, Account Number and Current Balance.
  • Stocks and Bonds; Address, Account Number and Current Balance.
  • Life Insurance; Face value, Insurance amount purchased.
  • Total of Liquid Assets: Total amount of above section.
  • Other Assets: Real Estate Owned (Current and Others).
  • Vested interest in retirement fund: Name and Current Amount.
  • Net Worth of Business: Please attach financial statements.
  • Automobiles Owned (make and year): Current Value of each.
  • Other Assets: General Description of each Type: Furniture, Boat, RV, Antiques.
  • Total Assets: The total gross worth of all assets.
  1. Liability Section
  • Name and Address of Company: Company you owe money.
  • Account No.: The number used to make payments.
  • Monthly Payment/Months to payoff account: Installment and mortgage accounts will have a total of month’s left to payoff loan.
  • Current Balance: Current outstanding balance of each account.
  • Total Monthly payment: A total of all monthly payments.
  • total Liability Amount: A total amount of all outstanding debts.
  • Net Worth: A total of all monthly payments - A total amount of all outstanding debts.


Apply Purchase Interest Rates

Current Rates

30 Yr Fixed 6.000%
15 Yr Fixed 6.250%
30 Yr Fixed Jumbo 7.375%
15 Yr Fixed Jumbo 7.125%
Interest Only 6.875%
15 Year Land Loan 6.300%
2/1 ARM 6.500%
3/1 ARM 6.500%
5/1 ARM 6.500%
Prime Rate 5.000%
Commercial 6.990%
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Interest, program terms and conditions are subject to change without notice. Loans are subject to credit review and approval. Properties securing all loans must be located in Michigan. Other restrictions and limitations may apply