Application Checklist

Prequal

Loan prequalification is a process that pre-qualifies a homebuyer for a specific loan amount for purchasing a home. A prequalification letter is a document the the homebuyer receives from a lending institution as to the amount available to them in purchasing a home.

The loan prequalification process rather easy. A loan officer asks the homebuyer several questions in determining DTI "debt to income" ratio, some documentation may be required. The homebuyer will need to provide proof of income and show all debt. In order to determine this ratio, the loan officer needs to know the homebuyer's: debt, assets, credit, and employment status.

After the information is evaluated, the loan officer is able to provide the homebuyer with an estimated budget for the purchase of a new home. With a loan prequalification letter from a lending institution, a buyer has a greater chance of getting the house he or she wants, particularly if there are other buyers interested in the home who have not been preapproved. In addition to helping the homebuyer determine the amount of money that can be spent toward the purchase of a new home, a loan prequalification give a general idea as to how much the monthly payments will be. The homebuyer can also decide how much of a down payment is necessary.

As valuable as loan prequalification letters can be, they are not a guarantee of a loan. The actual loan approval process is a long and sometimes tedious process, even for A paper borrowers.

Terms of Agreement

Please read this Terms of Use Agreement ("Agreement") carefully. By accessing this Web site and any pages hereof, you agree to be bound by the terms and conditions below. This Agreement contains an agreement to arbitrate all Claims and disclaimers of warranties and liability. These provisions form an essential basis of our bargain. If you do not agree to these terms and conditions, do not access this Web site.
United Pacific Lending, operates this Web site. For purposes of this Agreement, "UPL" means United Pacific Lending, the loan services made available on this site are provided by UPL, and all references on this site to UPL shall collect your loan request and provide technical services.
SECURITY POLICY
UPL uses extensive and sophisticated secure technology to protect your data and transmissions between you, UPL, banks, lenders and loan brokers participating in this Web site (we refer to all of these as "Lenders"), and real estate professionals participating in this web site (the "real estate professionals"). Here are the highlights:
Transmission between browsers and our web server is implemented using Secure Sockets Layer (SSL) technology. This technology requires an SSL-capable browser such as MS Internet Explorer 3.0 (or later) or Netscape Navigator 2.0 (or later).
Transmissions between UPL and participating Lenders or UPL and real estate professionals are encrypted using public key cryptography algorithms with a minimum key size of 128 bits.
Our database is physically separated from our web server and is protected by a physical firewall.
Although UPL has taken these reasonable and appropriate measures to ensure that your personal information is delivered and disclosed only in accordance with your instructions, UPL cannot and does not guarantee that the personal information you provide will not be intercepted by others and decrypted.
LOAN ORIGINATION SERVICES
Terms Applicable to All Loan Services
UPL is not a lender and does not make loans or credit decisions in connection with loans. UPL does not endorse or recommend the products of any particular Lender on any of its websites. UPL is not an agent of either you, the User, or any participating Lender. UPL services are administrative and consultative only. You should rely on your own judgment in deciding which available loan product best suits your needs and financial means. The Lender is solely responsible for its services to you, and you agree that UPL shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of such services. You understand that Lenders may keep your loan request form, whether or not you are qualified for a loan with them.
This Web site and the services provided by UPL are available only in connection with (a) mortgage loans made on real property located in the fifty states and the District of Columbia unless otherwise specified, and (b) non-mortgage loans made to citizens and residents of the United States. Loans may only be made to residents of, or secured by real property located in, states where participating Lenders are licensed or authorized to make such loans, as indicated herein under the section titled "Lenders." Lenders are not attempting to make loans outside of their authorized states or country by participating in and offering their products on this Web site. UPL and/or participating Lenders expressly reserve the right to discontinue, suspend or terminate the offering of any loan product in any specific state through this Web site.
UPL does not guarantee acceptance into any particular loan program or specific loan terms or conditions with any participating Lender; loan approval standards are established and maintained solely by individual Lenders. Likewise, UPL does not guarantee that the loan terms or rates offered and made available by participating Lenders through this Web site are the best terms or lowest rates available in the market. Unless expressly stated in writing, nothing contained herein shall constitute an offer or promise for a loan commitment or interest rate lock-in agreement.
UPL does not charge you, the User, a fee to use our service. UPL is paid a fee by participating Lenders for the goods, facilities and services provided. Your use of this Web site and/or UPL services constitutes your agreement with this compensation arrangement.
By hitting submit or requesting to be matched with Lenders under either of the programs, you understand and agree that you are submitting an inquiry as to a lending product with UPL and each of the Lenders to whom your loan request is transmitted. By submitting the loan request containing your electronic signature, you are extending an express invitation to each of the Lenders making you loan offers to contact you by telephone at the numbers you have provided so they may assist you with your transaction, and you hereby consent to any such calls even if your phone number is on any Do Not Call list. By saving your information with UPL and/or submitting a loan request, you give UPL permission to make recorded calls to remind you of any deadlines or issues in connection with your loan request.
Your loan request may be matched to UPL Loans, which is licensed as a mortgage broker/Lender. By law, we are required to disclose that UPL Loans and we are required to provide you with this Affiliated Business Disclosure. By submitting your loan request, you acknowledge receipt of the Affiliated Business Disclosure. UPL Loans will provide you with up to four loan offers from its investor loan sources and act as your single point of contact for evaluating these options. You will not be matched with other lenders.
REAL ESTATE SERVICES
All of the information you have provided in this referral form is true and complete. You authorize UPL to forward your information to its network of real estate professionals. You further understand and agree that by selecting a real estate company or professional, you are extending an express invitation for them to contact you by telephone at the numbers you have provided, and you hereby consent to any such calls even if your phone number is on the Do Not Call list. In addition, by completing and submitting a request for more information regarding a real estate listing or requesting contact with a real estate professional, you understand and agree that you are extending an express invitation to real estate professionals to call you by telephone at the numbers you have provided, and you hereby consent to any such calls even if your phone number is on the Do Not Call list. You understand that these real estate professionals may keep the information you submit whether or not you communicate with them regarding a real estate listing and whether or not you complete a real estate transaction with them. Real estate programs are administered by UPL , a licensed real estate broker. In certain geographic areas, UPL lists and sells homes. However, in connection with its Find a REALTOR® program, UPL does not list or sell homes. Instead, real estate brokerage activities are performed by local licensed real estate brokers. In connection with its Find a REALTOR® program UPL acts as a referring broker by referring you to a local real estate broker, and for its services, UPL receives a real estate brokerage referral fee of up to 35% of the local broker's commission. Your use of this Web site and/or UPL services constitutes your agreement with this compensation arrangement. Cash, gift certificates, points or mileage incentives are only available to customers who use a UPL Network real estate professional to buy or sell their home. Customers must have been connected with the real estate professional through UPL Find a REALTOR® program to be eligible for incentives. Certain states require that incentives be given as either a credit at closing or as a reduction of your real estate commission. The programs may be available on modified terms, or may be prohibited, in certain jurisdictions. Other restrictions may apply.
Real Estate Create an Account/Registration
By creating an account or otherwise registering with this site, you hereby understand and agree that you have established a business relationship between you and UPL, which is the owner of this site. As such, you agree that UPL may contact you using information you provided with information and offers of services available through UPL and any of its websites. You hereby consent to any such communication or phone calls even if your phone number is on any Do Not Call list.
DISCLAIMERS AND LIMITATIONS
UPL intends that the information contained in its Web site be accurate and reliable; however, errors sometimes occurs. In addition, changes and improvements to the information provided herein may be made by UPL at any time. THIS WEB SITE AND THE INFORMATION, SOFTWARE, PRODUCTS AND SERVICES ASSOCIATED WITH IT ARE PROVIDED "AS IS." UPL AND/OR ITS SUPPLIERS, PARTICIPATING LENDERS, OR REAL ESTATE PROFESSIONALS DISCLAIM ANY WARRANTY OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER RELATING TO THIS WEB SITE AND ANY INFORMATION, SOFTWARE, PRODUCTS AND SERVICES PROVIDED HEREIN, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, title, AND NONINFRINGEMENT. USE OF THIS WEB SITE AND/OR UPL SERVICES IS AT YOUR OWN RISK. UPL AND/OR ITS SUPPLIERS, PARTICIPATING LENDERS, OR REAL ESTATE PROFESSIONALS ARE NOT LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR OTHER INJURY ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF THIS WEB SITE AND/OR UPL'S SERVICES OR WITH THE DELAY OR INABILITY TO USE THIS WEB SITE, OR FOR ANY INFORMATION, SOFTWARE, PRODUCTS AND SERVICES OBTAINED THROUGH THIS WEB SITE, OR OTHERWISE ARISING OUT OF THE USE OF THIS WEB SITE, WHETHER RESULTING IN WHOLE OR IN PART, FROM BREACH OF CONTRACT, TORTUOUS BEHAVIOR, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, EVEN IF UPL AND/OR ITS SUPPLIERS HAD BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
INDEMNITY
As a condition of use of this Web site and/or UPL'S services, you agree to indemnify UPL and its suppliers, participating Lenders, or real estate professionals from and against any and all liabilities, expenses (including attorneys' fees) and damages arising out of claims resulting from your use of this Web site, including without limitation any claims alleging facts that if true would constitute a breach by you of this Agreement.
LINKS TO THIRD PARTIES
This Web site may contain links to Web sites maintained by third parties. Such links are provided for your convenience and reference only. UPL does not operate or control in any respect any information, software, products or services available on such Web sites. UPL'S inclusion of a link to a Web site does not imply any endorsement of the services or the site, its contents, or its sponsoring organization.
ERRORS AND DELAYS
UPL is not responsible for any errors or delays in responding to a qualification form or referral form caused by an incorrect e-mail address provided by you or other technical problems beyond our reasonable control.
DISPUTE RESOLUTION
Any claim or controversy arising out of or relating to the use of this Web site, to the goods or services provided by UPL , or to any acts or omissions for which you may contend UPL is liable, including but not limited to any claim or controversy as to arbitration ("Dispute"), shall be finally, and exclusively, settled by arbitration. The arbitration shall be held before one arbitrator under the commercial arbitration rules of the American Arbitration Association ("AAA") in force at that time. The arbitration shall be venued in Los Angeles County, California. The arbitrator shall be selected pursuant to the AAA rules. Should no AAA rule regarding the selection of an arbitrator be in effect, the consumer shall select an arbitrator from a panel of arbitrators acceptable to UPL . In any arbitration, UPL will pay the filing fee, plus the costs associated with the first day of arbitration, with the remaining costs of arbitration paid by the non-prevailing party, provided, however, that in Maine any cost to the consumer shall be limited to the cost of filing a court case. To begin the arbitration process, a party must make a written demand therefore.
Any judgment upon the award rendered by the arbitrators may be entered in any court of competent jurisdiction in Mecklenburg County, North Carolina. The arbitrators shall not have the power to award damages in connection with any Dispute in excess of actual compensatory damages and shall not multiply actual damages or award consequential, punitive or exemplary damages, and each party irrevocably waives any claim thereto, except in Maine where state law will control all rights and remedies in the arbitration. The agreement to arbitrate shall not be construed as an agreement to the consolidation of an arbitration under this agreement with an arbitration of disputes or claims of any non-party, regardless of the nature of the issues or disputes involved.
THIS AGREEMENT PROVIDES THAT ALL DISPUTES BETWEEN YOU AND UPL WILL BE RESOLVED BY BINDING ARBITRATION. YOU THUS GIVE UP YOUR RIGHT TO GO TO COURT TO ASSERT OR DEFEND YOUR RIGHTS. YOU ALSO GIVE UP YOUR RIGHT TO PARTICIPATE IN OR BRING CLASS ACTIONS. YOUR RIGHTS WILL BE DETERMINED BY NEUTRAL ARBITRATORS AND NOT A JUDGE OR JURY. You are entitled to a fair hearing, but the arbitration procedures are simpler and more limited than rules applicable in court. Arbitrator decisions are enforceable as any court order and are subject to very limited review by a court. By using UPL'S goods and services you consent to these restrictions.
Should a Dispute arise and should the arbitration provisions herein become inapplicable or unenforceable, or in any instance of any lawsuit between you and UPL , the parties agree that jurisdiction over and venue of any suit shall be exclusively in the state and federal courts sitting in Mecklenburg County, North Carolina. If either party employs attorneys to enforce any right in connection with any Dispute or lawsuit the prevailing party shall be entitled to recover reasonable attorneys' fees.
OTHER TERMS
This Agreement constitutes the entire agreement between you and UPL and it supersedes all prior or contemporaneous communications, promises and proposals, whether oral, written or electronic, between you and UPL with respect to this Web site and information, software, products and services associated with it. This Agreement shall be subject to and construed in accordance with the laws of the State of North Carolina, excluding its conflict of laws principles. If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid enforceable provision that most closely matches the intent of the original provision, and the remainder of the Agreement shall continue in effect. A printed version of this Agreement and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to this Agreement to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. All rights not expressly granted herein are reserved.
PLEASE PRINT AND RETAIN A COPY OF THIS AGREEMENT FOR YOUR RECORDS.

Fraud

It is important for you to understand that you are required to provide complete and accurate information when applying for a mortgage loan. Please do not do any of the following:

Do not withhold disclosure of any loans and debts (including money that may have been borrowed to make the down payment if you are purchasing a home)

Do not accept funds to be used for your down payment from any other party (seller, real estate salesperson, builder, etc.)

Do not falsely certify that a property will be used for your primary residence when you are actually going to use it as a rental property.

Do not act as a "strawbuyer" (somebody who purchases a property for another person and then transfers title of the property to that person), nor should you give that person personal or credit information for them to use in any such scheme.

Do not apply for a loan by assuming the identity of another person.

Penalties for Loan Fraud:

Federal law provides severe penalties for fraud, misrepresentation, or conspiracy to influence wrongly the issuance of mortgage insurance by HUD. You can be subject to a possible prison term and fine of up to $10,000 for providing false information. Additionally, you could be prohibited from obtaining a HUD-insured loan for an indefinite period. Report Loan Fraud: If you are aware of any fraud in HUD programs or if an individual tries to persuade you to make false statements on a loan application, you should report the matter by calling your nearest HUD office or the HUD Regional Inspector General, or call the HUD Hotline on 1(800) 347-3735.

Warning: It is a crime to knowingly make false statements to the United States Government on this or any similar form. Penalties upon conviction can include a fine and imprisonment. For details see: title 18 U.S. Code Section 1001 and Section 1010.

Privacy

Your Privacy is Important to Us. At UPL, your privacy is our chief concern. We understand that you entrust us with your private financial information to help us match you with a bank, lender or loan broker (we refer to all of these as "Lenders") or real estate professional who can meet your needs. In exchange for your trust, you expect and deserve our commitment to treat your information with respect. Rest assured that we protect your privacy. Under no circumstances will UPL sell or share any personal information about you to or with any person or organization except: as authorized by you, to participating lenders, real estate professionals or other parties involved in your transaction, or as may be required by law or court order. The Privacy Policy below describes the standards we adhere to in handling information about you and your loan request. We want you to be aware of: Who we are Information we may collect on a UPL Web site How your information is used Altering the information you submit through a UPL Web site How our Privacy Policy is monitored 2. Information We Collect. There are several areas on a UPL site where you may be asked to enter both personal and non-personal information. We DO NOT sell or share any personal information about you to or with any person or organization except: as authorized by you, to participating Lenders, real estate professionals or other parties involved in your transaction, or as may be required by law or court order. Information we receive from you on loan or realty requests. When you come to a UPL site to complete a qualification form you'll need to provide personal and financial information such as your name, phone number, Social Security Number, e-mail address, income and other financial information depending upon your expressed loan or real estate referral preference. Technical information we collect. In order for us to ensure that we are providing the best possible consumer experience on a UPL Web site, we collect and track certain user information. Information gathered from Lenders. The "Lenders" section of our Web sites contain information for Lenders who wish to join The UPL Network. How your information is used. We use the information you provide on your loan or realty request to match you with participating Lenders, real estate professionals or authorized agents. We may also send your information to other third parties relevant to your transaction. Lenders will also receive your credit history when they review your request. UPL may also share certain aggregated data with our Lenders and other third parties for general marketing and demographic purposes; however, this data DOES NOT include any of your personal identifying information. Sharing information with our participating Lenders and real estate professionals. At your direction (when you click on the "Submit" button), the information that you provide to us on the loan or realty request will be sent through the UPL system and presented to up to five participating Lenders who offer the types of loan products you have identified (provided, however, that if one of the Lenders is unable to make an offer, UPL may submit your information to additional Lenders until such time as you have received five loan offers (up to a maximum of 9 total Lenders)), other parties relevant to your transaction and/or participating real estate professionals. Lenders will also receive your credit history when they review your request. If you complete the first page of the loan request form (by hitting the "Continue" button on "Page 1: Tell Us About Your Loan") but leave portions of the form incomplete, UPL will transmit your loan request form to up to 5 of its lenders who can help you complete your loan request and possibly extend you loan offers. By completing the first page of the loan request form, you authorize UPL to transmit your loan request form to the lenders as described above. If you select either of the non-traditional options available (UPL’s program or using UPL’s network to supplement your loan request), your loan request may be sent to lenders on UPL’s network ( is an internal division of UPL). If you select the option, your loan request will be sent to up to 5 lenders on the network. If you select to have supplement your UPL loan request, your loan request will be sent to lenders only if you did not receive 5 offers from UPL lenders, and you may receive up to 5 matches from in addition to any UPL lenders making offers. Each process is described in more detail in UPL’s Terms of Use and only happens when authorized by you. No credit check will be performed on behalf of UPL until you authorize us to do so by submitting a completed loan request. As our Lenders and real estate professionals may keep and use your information whether or not you qualify for a loan with them or use their services, we recommend that you contact them directly for more information about their specific privacy policies. Sharing information with third parties. We may also act as an agent for our participating Lenders and real estate professionals, sharing information on their behalf and pursuant to their instructions with providers of services related to your transaction. In addition, UPL may notify you about a special offer from one of our promotional partners. We do not reveal your name, address or any other identifying information to that promotional partner unless you request us to do so. Sharing information with authorized agents. At your direction (when you click on the "Submit" button or on the "Continue" button on "Page 1: Tell Us About Your Loan" on the loan request form), the information you provide to us on the loan or realty request will be sent through the UPL system and may be presented to our authorized agents. Our authorized agents do not sell or share your personal information with any person or organization. Altering Information You Submit Through a UPL Web Site. UPL puts you in control of your experience on our Web sites. You'll find our sites easy to navigate to find all the information you need to complete your transaction. Changing your information. You may be able to review and change personal information in an active loan or realty request that you completed through UPL online. If you are unable to complete this online, you may contact us for assistance. Deleting your information. Federal and state regulations require that we store completed loan and real estate requests for various periods of time. In order to comply with these regulations, we cannot delete information from our databases. Security. UPL sites have security measures in place to protect the loss, misuse and alteration of the information under our control. PLEASE PRINT AND RETAIN A COPY OF THIS AGREEMENT FOR YOUR RECORDS.