ARM QUESTIONNAIRE - LOAN RISK

          ASSESSMENT WORKSHEET

          PLEASE NOTE:  ANY ITEMS WITH AN *

                      MUST BE COMPLETED

 

Referred By:

 

Need assistance completing this form, please call our Risk Assessment Hotline

1-800-786-6960, x3008

At any time during the recording, you may press 0 and ask to speak with a Risk Evaluation Expert

CUSTOMER NAME*: 

   

PROPERTY ADDRESS*: 

            

CITY*:              STATE*:                 ZIP CODE*:                   COUNTY:

DAY PHONE*:                  EVENING PHONE*:        

E-MAIL*: 

           

BEST TIME AND PLACE TO CALL*:             

 

You will need your Adjustable Rate Note and/or Adjustable Rate Note Rider to complete the items below!

Original Loan Amount?  $           Term Of The Loan   

Original Interest Rate:  %       Current Interest Rate:  %

Date of Note:  / /      Date 1st Payment Due:  / /

Original Monthly Payment (Principal and Interest):  $ .

Current Monthly Payment (Principal and Interest):  $ .

 

Initial fixed period for the interest rate on the loan?  i.e.  1 Month, 6 Months, 1 Year, 2 Year, 3 Year, 5 Year, etc.

     Comments: 

Index:    Comments: 

Initial Rate Cap:  %     First rate adjustment after initial fixed period

                  Periodic Cap:  %   Would represent subsequent annual, semi annual or quarterly rate adjustments                     

Lifetime Cap:  %    Represents Highest possible rate you could pay.

Does this loan have a Payment Cap in lieu of an interest rate cap:     

     If yes, what percent is the annual payment cap?  %  

Does this loan have a Negative Amortization or Deferred Interest Provision:      

                       Does this loan have a Recast Provision: 

If Yes, Loan will recast in  Months or sooner if the Loan Balance grows to % of Original Loan Amount. (Example 110%, 125%, 135% or 150%)

Does this loan contain a PRE-PAYMENT PENALTY:   

Is it a hard pre-pay or soft pre-pay

PRE-PAYMENT PENALTY TERMS

Select your pre-payment penalty below

How many years do you plan on staying in this home?  Years

CURRENT VALUE OF YOUR HOME?  $       

Estimated Appreciation Rate %

Do you pay mortgage Insurance?       If yes, amount monthly?  $

Current Balance on your loan?  $

Annual Real EstateTaxes:  $  

Annual Homeowners Insurance $

Do you have taxes and insurance included in your payments?       

Do you prefer the taxes and insurance in your payments?   

If you could handle tax and insurance payments on your own, would you? 

Thanks for completing the input screen.  A Risk Evaluation Expert will complete the test and e-mail you your results within 24-48 hours.

Please click on the button below to start this process.

 

 

 

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Disclaimer:  This consumer awareness site is brought to you courtesy of the lending professionals at Accu Rate Mortgage Express, Inc. and Illinois Residential Mortgage Licensee #4665.  Accu Rate Mortgage Express is located at 6547 W. Cermak Road, Berwyn, IL 60402.

Last Updated 2007