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Reset Form 1610 E. St. Andrew Place Suite B-150 Santa Ana, CA 92705 Toll Free (877) 945-9500 FHA PURCHASE SUBMISSION FORM Entire form must be completed to avoid delays. Effective: 02/05/13 Version

How to fill out fha purchase submission form

How to Fill Out FHA Purchase Submission Form:

1. Start by collecting all necessary documents: Before filling out the FHA purchase submission form, gather all required documents such as identification, income proof, bank statements, employment history, and details of the property you intend to purchase.
2. Complete personal information: Provide accurate personal details such as your name, address, phone number, email address, and social security number. This information is essential for identification purposes.
3. Fill in employment and income details: Provide information about your current employment, including your employer's name and address, your job title, and how long you have been employed. Additionally, detail your income sources, including salary, bonuses, commissions, and any additional sources of income.
4. Provide financial information: Include details about your assets, savings, and investments. This may include bank account statements, retirement account information, and any other financial accounts you own. Accurate and up-to-date financial information is necessary for assessing your financial stability.
5. Disclose any outstanding debts: List all your current debts, including credit card balances, student loans, car loans, and mortgages. It is important to provide accurate details about your outstanding debts as this information helps the lender evaluate your overall financial health.
6. Specify the property details: Indicate the property you intend to purchase, including its address, purchase price, and any additional expenses such as closing costs or repairs. Providing accurate information about the property ensures a smooth approval process.
7. Include co-borrower information if applicable: If you are applying for an FHA loan with a co-borrower, provide their personal and financial details as well. This includes their name, address, employment information, and income details.
8. Submit the form: Once you have completed all the required sections, review the form for accuracy and make any necessary corrections. After ensuring the information is accurate, sign and date the form before submitting it to your lender for processing.

Who needs FHA Purchase Submission Form?

1. First-time homebuyers: Individuals who are purchasing their first home may require an FHA purchase submission form. The Federal Housing Administration (FHA) provides loans specifically designed to help first-time homebuyers with more flexible down payment requirements and lower credit score thresholds.
2. Buyers with lower credit scores: Borrowers with lower credit scores may find it easier to qualify for an FHA loan rather than a conventional loan. As a result, they will need to fill out the FHA purchase submission form to provide the necessary information for loan approval.
3. Borrowers with limited funds for a down payment: FHA loans typically require a lower down payment compared to conventional loans. Buyers who have limited funds available for a down payment may opt for an FHA loan and must complete the FHA purchase submission form to initiate the loan process.
4. Individuals seeking government-backed loans: The FHA purchase submission form is necessary for those seeking a loan backed by the government. FHA loans are insured by the government, protecting lenders in case of borrower default.

By following these steps and understanding who needs the FHA purchase submission form, you can successfully complete the form and initiate the loan application process.

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What is fha purchase submission form?

The FHA purchase submission form is a document used to report the purchase of a property financed with an FHA loan.

Who is required to file fha purchase submission form?

Borrowers who have obtained an FHA loan to purchase a property are required to file the FHA purchase submission form.

How to fill out fha purchase submission form?

The FHA purchase submission form can be filled out by providing information about the property purchase, loan amount, borrower details, and other required information.

What is the purpose of fha purchase submission form?

The purpose of the FHA purchase submission form is to report the details of a property purchase financed with an FHA loan.

What information must be reported on fha purchase submission form?

The FHA purchase submission form must include details about the property purchase, loan amount, borrower information, and other relevant details.