Loan Application | Pelican Realty Capital

Loan Application For Investment Property Loans

First name

Last name

Phone

Birthday

Month

Day

Year

Multi-line address

Country/Region

Address

City

Zip / Postal code

Social Security Number

Martial Status

Married

Separated

Unmarried

Names of Co-Borrowers

How long have you been at your current address?

Rent or Own?

Rent

Own

Current Home Rent or Mortgage Payment

I am employed by a family member, property seller, real estate agent, or other party to the transaction.

Yes

If this is a Purchase Transaction: Do you have a family relationship or business affiliation with the seller of the property?

Yes

Have you or will you be applying for a mortgage loan on another property (not the property securing this loan) on or before closing this transaction that is not disclosed on this loan application?

Yes

Have you or will you be applying for any new credit (e.g., installment loan, credit card, etc.) on or before closing this loan that is not disclosed on this application?

Yes

Will this property be subject to a lien that could take priority over the first mortgage lien, such as a clean energy lien paid through your property taxes (e.g., the Property Assessed Clean Energy Program)?

Yes

Are you a co-signer or guarantor on any debt or loan that is not disclosed on this application?

Yes

Are there any outstanding judgments against you?

Yes

Are you currently delinquent or in default on a Federal debt?

Yes

Are you a party to a lawsuit in which you potentially have any personal financial liability?

Yes

Have you conveyed title to any property in lieu of foreclosure in the past 7 years?

Yes

Within the past 7 years, have you completed a pre-foreclosure sale or short sale, whereby the property was sold to a third party and the Lender agreed to accept less than the outstanding mortgage balance due?

Yes

Have you had property foreclosed upon in the last 7 years?

Yes

Have you declared bankruptcy within the past 7 years?

Yes

Are you a Veteran?

Yes

Do you have a co-Borrower? Please list there names, Social Security Numbers, residential address and Date of Birth.

You understand that by clicking Submit immediately following this notice, you are providing 'written instructions' under the Fair Credit Reporting Act, authorizing Pelican Realty Capital LLC to obtain information from your personal credit profile and other information from Equifax, TransUnion, and/or Experian to conduct a pre-qualification for credit. This process will not affect my credit score. I also give my permission for my contact information to be given to a third party lender, if applica

I certify I have read and agree to the Electronic Disclosures communications https://app.isoftpull.com/site/usage_terms#e-consent

Signature Borrower

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Signature Co Borrower

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Signature Co Borrower

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Signature Co Borrower

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Acknowledgments and Agreements.

This section tells you about your legal obligations when you sign this application.

Definitions:

• "Lender" includes the Lender’s agents, service providers, and any of their successors and assigns.

• "Other Loan Participants" includes (i) any actual or potential owners of a loan resulting from this application (the “Loan”), (ii) acquirers of any beneficial or other interest in the Loan, (iii) any mortgage insurer, (iv) any guarantor, (v) any servicer of the Loan, and (vi) any of these parties' service providers, successors or assigns.

I agree to, acknowledge, and represent the following:

(1) The Complete Information for this Application

• The information I have provided in this application is true, accurate, and complete as of the date I signed this application.

• If the information I submitted changes or I have new information before closing of the Loan, I must change and supplement this application, including providing any updated/supplemented real estate sales contract.

• For purchase transactions: The terms and conditions of any real estate sales contract signed by me in connection with this application are true, accurate, and complete to the best of my knowledge and belief. I have not entered into any other agreement, written or oral, in connection with this real estate transaction.

• The Lender and Other Loan Participants may rely on the information contained in the application before and after closing of the Loan.

• Any intentional or negligent misrepresentation of information may result in the imposition of:

(a) civil liability on me, including monetary damages, if a person suffers any loss because the person relied on any misrepresentation that I have made on this application, and/or

(b) criminal penalties on me including, but not limited to, fine or imprisonment or both under the provisions of Federal law (18 U.S.C. §§ 1001 et seq.).

(2) The Property’s Security

The Loan I have applied for in this application will be secured by a mortgage or deed of trust which provides the Lender a security interest in the property described in this application.

(3) The Property’s Appraisal, Value, and Condition

• Any appraisal or value of the property obtained by the Lender is for use by the Lender and Other Loan Participants.

• The Lender and Other Loan Participants have not made any representation or warranty, express or implied, to me about the property, its condition, or its value.

(4) Electronic Records and Signatures

• The Lender and Other Loan Participants may keep any paper record and/or electronic record

If this application is created as (or converted into) an “electronic application”, I consent to the use of “electronic records” and “electronic signatures” as the terms are defined in and governed by applicable Federal and/or state electronic transactions laws.

• I intend to sign and have signed this application either using my:

(a) electronic signature; or

(b) a written signature and agree that if a paper version of this application is converted into an electronic application, the application will be an electronic record, and the representation of my written signature on this application will be my binding electronic signature.

• I agree that the application, if delivered or transmitted to the Lender or Other Loan Participants as an electronic record with my electronic signature, will be as effective and enforceable as a paper application signed by me in writing.

(5) Delinquency

• The Lender and Other Loan Participants may report information about my account to credit bureaus. Late payments, missed payments, or other defaults on my account may be reflected in my credit report and will likely affect my credit score.

• If I have trouble making my payments I understand that I may contact a HUD-approved housing counseling organization for advice about actions I can take to meet my mortgage obligations.

(6) Authorization for Use and Sharing of Information

By signing below, in addition to the representations and agreements made above, I expressly authorize the Lender and Other Loan Participants to obtain, use, and share with each other (i) the loan application and related loan information and documentation, (ii) a consumer credit report on me, and (iii) my tax return information, as necessary to perform the actions listed below, for so long as they have an interest in my loan or its servicing:

(a )process and underwrite my loan;

(b) verify any data contained in my consumer credit report, my loan application and other information supporting my loan application; borrower acknowledges that by signing this application lender/broker may pull borrowers credit reports through either a soft or hard pull through the three major credit bureaus. Borrower agrees to allow lender/broker or its affiliates to contact them through text, email or phone including using automated pre recorded messages (AI).

(d) perform audit, quality control, and legal compliance analysis and reviews;

(e) perform analysis and modeling for risk assessments;

(f) monitor the account for this loan for potential delinquencies and determine any assistance that may be available to me; and

(g) other actions permissible under applicable law.

The following disclosure is required by the Federal Electronic Signatures in Global and National Commerce Act (E-SIGN Act). Please read this E-SIGN Disclosure carefully and keep a copy for your records.

By following the “Consent” instructions below, you are consenting to receive any disclosures, notices, terms and conditions or other documents electronically that are related to your current mortgage loan transaction. You are also consenting to receive any other electronic communications that may include important information that you would otherwise receive from us through the mail (such as, but not restricted to, notices regarding the servicing of your loan, our decisions on your loan, loan privacy notices, changes in terms, statements regarding amounts due on your loan and periodic statements, as are required under applicable law). If you do not consent; we will mail these documents to you.

Change in How We May Contact You Electronically It is your responsibility to provide us with a true, accurate and complete e-mail address, contact and other information related to your mortgage loan transaction, and to maintain and update promptly any changes in this information. Any changes can be made by contacting us at the number or email address listed under contact information.

Requesting Paper Copies Even after consent, you have the right to receive a paper copy of the disclosures, notices, terms and conditions or other documents related to your current mortgage transaction. If you would like to receive a paper copy at no charge, please contact Lender/broker/ACRA Lending at the number or email address listed at the bottom of this page. Please include your name and mailing address and be sure to state that you are requesting a copy of the disclosures, notices, terms and conditions or other documents related to your current mortgage transaction.

Withdrawal of Consent of Electronic Acceptance of Disclosures and Notices If after consenting, you wish to withdraw your consent you can do so by contacting Lender/broker/ ACRA Lending at the number or email address listed at the bottom of this page. We may treat your provision of an invalid email address or the subsequent malfunction of a previously valid address as a withdrawal of your consent to the electronic delivery of the disclosures, agreements, change notices, terms and conditions, and any other documents.

Hardware and Software Requirements

In order to access, view, and retain your account information electronically, you must have:

•A personal computer or other device which is capable of accessing the Internet.

•An Internet web browser with capabilities to support a minimum 128-bitencryption.

•Software which permits you to receive, access, print and save Portable Document format “PDF” files, such as Adobe Acrobat Reader® version 8.0 and above.

•An e-mail account with an Internet Service Provider and e-mail software in order to participate in our electronic communications program.

In addition, your computer hardware must be able to reliably run the software indicated above. You are also responsible for maintaining your own connection to the Internet. Furthermore, we recommend that you also have a printer connected to the computer so you may print and save disclosures and other information you receive electronically. You understand that you are responsible for installation, maintenance and operation of your computer, computer peripherals, and software. You assume full responsibility of ensuring these requirements are met should any changes be made to your existing computer system. Lender/broker/ACRA Lending is not responsible for any errors of failures of your computer or its software. Termination/Changes We reserve the right, in our sole discretion, to discontinue providing your account information electronically, or to terminate or change the terms and conditions on which we provide account information electronically. We will provide you with notice of any such termination or change as required by law. Consenting To consent to the above terms, please print and sign this disclosure and return with your loan application or to the address noted below. By giving your consent to electronically receive disclosures, notices, terms and conditions or other documents you can significantly shorten the length of time on the federally mandated waiting period.

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