Credit Evaluation School - May 2023

Internal Use Only

Consumer Loans – Residential Home Primary Documents Required: • Signed Residential Mortgage Credit Application (Form 1003) • Promissory Note • Appraisal or Evaluation • Title Insurance Commitment/ Preliminary Lien Search • Agreement to Provide Homeowner’s Insurance/Flood Insurance • Credit Report • Mortgage or Deed of Trust • Appraisal Review • Title Insurance Policy/Title Opinion • Income Information

Internal Use Only

Consumer Loans – Residential Construction

What is it: A consumer loan to an individual for personal reasons. Typically, to purchase and construct a residential home.