HUD184 Native American Mortgage Program Tab Parr NMLS #450294 602-363-6796 tparr@boemortgage.com www.184loans.com      Bank of England dba ENG Lending NMLS 418481 Member FDIC

Benefits No Income Limit PRIMARY RESIDENCE ONLY Low Down Payment (1.25% or 2.25% of purchase price) Down Payment Assistance may come from tribe, non profit or family member. Your home may be on or off the reservation Purchase, refinance, new construction, remodel, cash out refinance Low monthly MIP of .15%, one time guarantee fee of 1.5% Seller may contribute up to 6% towards your closing costs Loans are assumable

Comparison FHA HUD184 Fico score minimum 620 Down payment 3.5% of purchase price ($100k x 3.5% = $3,500) Monthly PMI/MIP .85 of base loan amount (as of 1-26-15) PMI/MIP for life of loan Interest rate based on credit score Not Fico driven (investor requires 600 minimum) Down payment 2.25% of purchase price ($100k x 2.25% = $2,250) Monthly PMI/MIP .15 of base loan amount PMI/MIP removed once 22% equity has been reached Prime interest rate regardless of credit score.

Credit Guidelines Debt to Income ratio not to exceed 41% No outstanding collections, judgements or chargeoffs. Items must be paid prior to application. Must have a minimum of 12 months of on time payment history. Bankruptcy must be discharged for 2 years, foreclosure must have 3 years lapse since finalized. May utilize alternative forms of credit to enhance credit profile. This is for those with limited positive credit history. Need a minimum of 3 trades: ie utilities, cable, auto insurance, etc. INCOME Income must come from a verifiable source ie: payroll, percapita, social security, pension, etc. CASH is not a verifiable source of income. Self employed applicants must provide 2 years tax return with all schedules to determine qualification.

DO NOT apply for any additional credit or change employers while in the mortgage process If you need to make any changes contact your lender first and have a discussion to come up with the best plan for you.

Credit Bureau resource Annual Credit Report.com https://www.annualcreditreport.com AnnualCreditReport.com is the only official site explicitly directed by Federal law to provide them. FREE Credit Reports. Federal law allows you to: Get a free copy of your credit report every 12 months from each credit reporting company. Ensure that the information on all of your credit reports is correct and up to date.

Documentation Checklist If your home is within a reservation boundary, please provide: Residential Homesite Lease Certified Title Status Report Land Status Form Environmental Assessment form Letter from Indian Health Services if they are to install water/sewer. Letter from electric company to provide power. Additional items may be needed. This will be determined during your one on one interview. Tribal Membership ID or CDIB Document must have enrollment # Social Security Card Most recent 2 years Federal tax return w/W2 or 1099 (all pages) Most current paystubs covering last 30 days. LOX if gap in employment during the last 2 years Most recent Social Security or Pension award letter. (if applicable) Certified copy of school transcripts (if applicable) 2 most recent bank, investment, or trust statements. (all pages) LOX for non direct deposit credits If another party is joint owner of account and is not on the loan, a joint access letter will be required. Terms and conditions of withdrawal from retirement account(s) Verification of gift funds/sign & dated gift letter Additional items may be needed. This will be determined during your one on one interview. LOX – Letter of explanation

Bank of England dba ENG Lending http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/ih HUD WEBSITE ADDRESS Tab Parr NMLS #450294 602-363-6796 866-778-1105 efax tparr@boemortgage.com www.184loans.com   Bank of England dba ENG Lending NMLS 418481 Member FDIC