MCC COUNTY ACQUISITION LIMITS FOR NEW CONSTRUCTION AND EXISTING PROPERTIES: TARGETED AREAS: $289,705 NON-TARGETED AREAS: $237,031

Transcription

1 Exhibit B MCC COUNTY ACQUISITION LIMITS FOR NEW CONSTRUCTION AND EXISTING PROPERTIES: TARGETED AREAS: $289,705 NON-TARGETED AREAS: $237,031 Revision 4/10/08

2 MCC ATTORNEY INFORMATION FORM MCC RESERVATION NO.: LENDER: PHONE: APPLICANT: FILES SUBMITTED WITHOUT THIS FORM WILL NOT BE REVIEWED NAME OF ATTORNEY: NAME OF LAW FIRM: ADDRESS (NO P.O. BOX): _ PHONE #: CONTACT: FINAL CLOSING DATE: FINAL LOAN AMOUNT: $ ATTACH COMPLETED AIRBILL: FedEx UPS AIRBILL ACCOUNT #: Note: Applicable only when combining with the Down Payment Assistance (DPA) Loan and if so, the loan will not be processed unless the completed air bill is attached. MCC 010 Rev. 07/09

3 MORTGAGE CREDIT CERTIFICATE PROGRAM BORROWERS CLOSING AFFIDAVIT STATE OF MISSISSIPPI ) SS COUNTY OF ) I, the undersigned, as part of my application for a Mortgage Credit Certificate ("MCC") from the Mississippi Home Corporation ("MHC"), issuer of such certificates under the Mortgage Credit Certificate Program, and as a material inducement to MHC to issue an MCC to the undersigned in connection with the financing (the mortgage loan), through a lender of the undersigned's choosing of the purchase of a single family residence being duly sworn state the following: I executed a Commitment Application and Affidavit (MCC002) as part of my application for a Mortgage Credit Certificate on, 20. (Check and complete Section (a) or (b) whichever applies.) (a) I have reviewed the aforementioned Application and Affidavit and declare there has been no change in the statements therein and said statements remain true and accurate as of the date hereof. (b) I have reviewed the aforementioned Application and Affidavit and declare that the following changes have occurred from the statements therein. I acknowledge and understand that this Affidavit will be relied upon for purposes of determining my eligibility for an MCC. I further acknowledge that this MCC has been issued in reliance upon certifications contained in the Commitment Application and Affidavit, Seller Affidavit and Lender's Participation Agreement stating that the requirements necessary for issuance of a qualified Mortgage Credit Certificate have been met. I acknowledge and understand that any material misstatement negligently made in this Affidavit or any other statement made by me in connection with my application for a MCC will constitute a federal violation punishable by a fine of $1,000 and that a material misstatement fraudulently made by me in connection with my application for an MCC will constitute a federal violation punishable by a fine of $10,000 and revocation of the MCC and any other criminal penalty imposed by law. Borrower: Co-Borrower: Subscribed and sworn to before me this day of, 20. Seal Notary Signature Commission Expiration Date MCC 005 Rev. 01/00

4 EXHIBIT O MISSISSIPPI HOME CORPORATION MORTGAGE CREDIT CERTIFICATE TRANSMITTAL CHECKLIST MCC Reservation # Borrower: Co-Borrower: STEP 1 -- RESERVATION PACKAGE: Transmittal Checklist (Exhibit O) Original MCC Reservation Form (MCC 000) $ MCC Non-refundable Reservation Fee payable to MHC (No Personal checks) (No additional charge for DPA, if applicable) Copy of executed Loan Application Copy of executed Sales Contract Original executed Potential Recapture Disclosure Form (Exhibit P) Copy of Homebuyer Education Certificate (Fannie Mae Community Homebuyer Products Only) MHC must receive the reservation package within 3 business days from the reservation date. Step 2 -- CONDITIONAL COMMITMENT PACKAGE: Transmittal Checklist (Exhibit O) FHA Transmittal or VA Loan Analysis or Fannie Mae 1008 Original executed MCC Disclosure (MCC 001) Original executed Commitment Application and Affidavit (MCC 002, Parts I and II) Federal Tax returns-previous 3 Yr. s (Non-Target only, with original signatures) All applicable Household Members Verification of Employment & current pay stub(s) Income Calculation Worksheet (MCC 008) Appraisal (URAR & Conditional/CRV)[Conventional Single Family] Copy of Deed and Invoice (Manufactured Housing, if applicable) Mortgage Credit Certificate Worksheet (MCC 004) Original executed DPA Application (DPA 001, if applicable) Two (2) current checking/savings statements (DPA only) Attorney Information Form (MCC 010) & Completed Air Bill (DPA Only) Notification of Change Form (MCC 009) MHC must receive the commitment package within 45 business days for new/existing properties or 120 days for construction from date of reservation. STEP 3 -- CLOSING PACKAGE: Original Transmittal Check List (Exhibit O) Original executed Mortgage Credit Certificate Program Data Summary (MCC 007) Original executed Borrower's Closing Affidavit (MCC 005) Original executed Seller Affidavit (MCC 003), Original Executed Seller Affidavit (MCC 003 MH) or Original Manufactured Home Dealer Affidavit (MCC 003 MH), whichever is applicable Original executed Lender's Closing Certificate (MCC 006) Copy of executed Note Copy of executed Mortgage Copy of executed HUD-1 DPA Original executed Note (if applicable) DPA Original recorded Deed of Trust/Rider (if applicable) DPA Original executed Truth in Lending (if applicable) DPA Original executed Disclosure (if applicable) Copy of Homeowners Insurance Declaration Page (only if DPA w/mcc loan) MHC must receive documents within 30 days from loan closing date. Rev. 4/23/09

5 MORTGAGE CREDIT CERTIFICATE PROGRAM COMMITMENT APPLICATION AND AFFIDAVIT The undersigned hereby states and certifies as part of the application for a Mortgage Credit Certificate ("MCC") from Mississippi Home Corporation ("MHC") issuer, of such certificates under the Mortgage Credit Certificate Program, and as a material inducement to MHC to issue such MCC to the undersigned in connection with the financing, through a lender of the Undersigned's choosing, the purchase of a Single Family Home as follows: My (our) legal name(s): Current address/phone: PURCHASER OF SINGLE FAMILY RESIDENCE CERTIFICATION I will be the purchaser and mortgagor of a single family which is a new ( ) or existing ( ) residence located at: Street Address: City/County/Zip: I will use the proceeds of the mortgage loan to purchase a home which is ( ) is not ( ) located in a targeted area. The home is a private family dwelling and will be occupied by me and my family. Neither the home nor the land will be used to provide a source of income. PRINCIPAL RESIDENCE CERTIFICATION I intend to occupy the home within no more than sixty (60) days from the date of the mortgage loan closing date as my principal residence and continue to occupy the home as my principal residence as long as I own the property. I have no intention to sell, lease, rent, assign or otherwise transfer or dispose of the home. I will notify Mississippi Home Corporation immediately in writing if the home ceases to be my principal residence. I understand that any MCC issued in connection with the home will be revoked if the home ceases to be my principal residence. NEW MORTGAGE CERTIFICATION No part of the mortgage proceeds will be used to acquire or replace an existing mortgage and I did not have a mortgage (whether or not paid off) on the home at any time prior to the execution of this mortgage (this does not include a construction loan, bridge loan, or other temporary financing with a term of 24 months or less). ACQUISITION COST CERTIFICATION The acquisition cost of the home, excluding any personal property separately purchased at fair market value, but including fixtures, is $. Such acquisition cost reflects all amounts paid or to be paid to the Manufactured Home Dealer in order to acquire the home, plus reasonable costs of completing construction, if the home is incomplete, plus the capitalized value of ground rent, if the home is subject to a ground rent. The purchase price of the home is as stated in the purchase agreement. The purchase agreement, and any other contracts and agreements in connection with the purchase and occupancy of the home between myself and anyone acting directly or indirectly on my behalf and the seller, or anyone acting directly or indirectly on behalf of the seller are attached to this Affidavit. I have not entered into any other contract or agreement, either express or implied, to obtain additional construction on the home. I understand that the applicable maximum purchase price allowable for the home is $. MCC OO2 PART 1 02/01

6 FIRST TIME HOME BUYER TERMS Unless the home is located in a targeted area, I have not had a present ownership interest in a principal residence at any time during the three (3) year period prior to the date of application for the mortgage on the home, and to the best of my knowledge, the same is true with respect to each person (if any) purchasing and mortgaging the home with me. I understand that for the purpose of the foregoing, examples of interest which constitute present ownership interest (and thus would result in my not meeting such requirements) are as follows: 1. A fee simple interest; 2. A joint tenancy, a tenancy in common, a tenancy by the entirety, or a community property interest; 3. The interest of a tenant shareholder in a cooperative; 4. A life estate; 5. A land contract or contract for deed (i.e., a contract pursuant to which possession and benefits of ownership are transferred although legal title is not transferred until some time later); 6. An interest held in trust for the mortgagor that would constitute a present ownership interest if held directly by the mortgagor; 7. A lease with option to purchase for a nominal sum; and 8. An interest in a home that is permanently affixed to the land, on land owned, or if homestead exemption or an interest on tax returns is claimed on the manufactured home. TAX RETURNS True and correct copies of all federal tax returns which I have filed in the past three (3) years are attached to this Affidavit. INCOME CERTIFICATION I understand that annual family income includes total income from all sources (before taxes or withholding) of all adult persons residing or intending to reside in the Single Family Residence to be financed with the proceeds of the mortgage loan. I certify that My (Our) total gross family income is $ NO PARTICULAR LENDER I understand that I may seek financing from any lender of my choosing provided that the Lender has signed the Lender Participation agreement required by Mississippi Home Corporation. TRANSFER OF THE MCC I understand that I cannot transfer any MCC issued in connection with this home to any person who assumes my obligations under the mortgage (and related mortgage note) without the express written approval of the MHC. A new MCC may be issued by the MHC to such person following completion of all necessary documents evidencing such persons qualification as an eligible mortgagor under the MCC program. CONSEQUENCE OF FALSE STATEMENTS I acknowledge and understand that this Affidavit will be relied upon for purposes of determining my eligibility for an MCC. I acknowledge that a material misstatement negligently made by me in this application will constitute a federal violation punishable by a fine of $1,000 and that a material misstatement fraudulently made by me in this Affidavit or in any other statement in connection with application for the MCC will constitute a federal violation punishable by a fine of $10,000. Any misstatement will result in denial of my application for an MCC, or, if the MCC has been issued prior to the discovery of the false statement, immediate revocation of the MCC will occur. I further acknowledge that if any information or certification I provide contains a material misstatement which is due to fraud, then any MCC issued will automatically become null and void without any need for further action on the part of the MHC. I,, certify the information contained in this Affidavit to be true and correct to the best of my knowledge. Borrower: Co-Borrower: Date: Date: MCC 002 PART 2 02/01

7 MORTGAGE CREDIT CERTIFICATE WORKSHEET $ MORTGAGE AMOUNT X INTEREST RATE = YEARS MORTGAGE INTEREST X 40% MCC PERCENTAGE = REDUCED TAX LIABILITY (Note: IRS limits the tax liability to $2,000 each year so any overage amount must be carried forward into the next tax year.) * 12 MONTHS (Divide by 12) = MONTHLY SAVINGS The MCC percentage is 40% for conventional housing and manufactured housing. To receive immediate benefit from the MCC Program, file a revised W-4 Withholding Form with your employer. This will reduce your yearly tax contribution and increase your monthly take home pay. MCC /07/14

8 MORTGAGE CREDIT CERTIFICATE PROGRAM MANUFACTURED HOME DEALER AFFIDAVIT State of Mississippi ) County of ) I, the undersigned, as an essential participant in the application for a Mortgage Certificate ("MCC") being submitted by ("the Buyer"), which MCC may be issued by the Mississippi Home Corporation ("MHC") pursuant to the Mortgage Credit Certificate Program in connection with the Buyers purchase from the undersigned Manufactured Home Dealer hereby state the following: 1. I certify that I am the Dealer involved with the sale of the Manufactured Home. 2. I certify that the total amount to be paid to me, or anyone acting on my behalf, in connection with the purchase of the manufactured home is $, excluding all usual and reasonable settlement or financing costs. The manufactured home is to be located in the State of Mississippi, County of at the following permanent address: _ I Certify that: The manufactured home will be or is purchased by the buyer subject to a ground rent, and the capitalized value of the ground rent is $, Not applicable. I have entered into no contract or agreement either express or implied, with the Buyer of the manufactured home to perform additional construction on the residence or to transfer any additional property for additional cost other than the personal property contained in the residence which is listed by item and amount in the sheet(s) attached and made part of this Affidavit. I acknowledge and understand that this Affidavit will be relied upon for the purposes of determining the Buyer's eligibility for an MCC. I acknowledge that a material misstatement negligently made in this Affidavit or in any statement made by me in connection with the Buyer's application for a MCC will constitute a federal violation punishable by a fine of $1,000 and that a material misstatement fraudulently made by me in this Affidavit or any other statement in connection with the Buyer's application for an MCC will constitute a federal violation punishable by a fine of $10,000, revocation of the MCC and any other criminal penalty imposed by law. Name of Dealership: Manufactured Home Dealer Signature: Subscribed and sworn to before me this day of 20. Seal Notary Signature Commission Expiration Date MCC 003 MH 01/00

9 MORTGAGE CREDIT CERTIFICATE DISCLOSURE STATE OF MISSISSIPPI ) MCC CONTROL NUMBER: COUNTY OF ) 1. I understand and agree that the Mortgage Credit Certificate (MCC) will be automatically revoked and I will no longer be entitled to claim the credit if I sell the single family residence or if I no longer use it as my principal residence. 2. I understand and agree that the MCC will be issued in connection with the replacement of or acquisition of an existing mortgage held by me on my principal residence. 3. I have been advised that the value of the MCC varies according to my tax liability and acknowledge that I have been advised to consult my tax accountant for advice. I understand that neither Mississippi Home Corporation (MHC) nor the lender make any representations regarding the value of the credit to me. I understand that the MCC WILL REDUCE my mortgage interest deduction for federal tax purposes. 4. I understand and agree that changed conditions in acquisition cost, income, and other program requirements may disqualify me at closing from receiving an MCC although at the time of application I was eligible to receive a certificate. 5. I understand and agree that the lender will decide upon my eligibility to receive the loan and set all loan terms and that MHC will not be involved in the credit process. I understand and agree that that MHC will not inspect the property for defects nor underwrite the loan. I therefore agree to hold MHC harmless from any action or inaction on the part of the lender, seller, contractors or other involved parties. 6. I understand and agree that any material misstatement contained in this application and any other MCC program documents negligently made by me constitutes a federal violation punishable by a $1,000 fine and that a material misstatement fraudulently made constitutes a Federal violation punishable by a $10,000 fine and any other criminal penalty imposed by law. If such misstatement is discovered prior to the issuance of the MCC, my application will be denied. If such misstatement is discovered following issuance of the MCC, the MCC will be revoked. I acknowledge that I have read and understand the terms stated above and that all information given is true and correct to the best of my knowledge. Date Date Borrower Signature Co-Borrower Signature Notary Public's Signature Date Notary Expiration: Seal MCC 001 Rev. 10/07

10 INCOME CALCULATION WORKSHEET Borrower County Co-Borrower Income Limit 1. MONTHLY EMPLOYMENT INCOME Primary Wage Earner Base Pay: Overtime: Bonus: Subtotal: Secondary Wage Earner: _ Base Pay: _ Overtime: _ Bonus: _ Subtotal: 2. OTHER INCOME Part-time income: Child Support: Alimony: Unemployment Income: Social Security: Tips: Net Rental Income: Dividend Income: Interest Income: Royalties: Pensions: Estates\Trusts: VA Compensation: Public Assistance: VHA\Cola Subtotal: _ 3. SELF EMPLOYMENT INCOME Schedule C, F, or E of Form 1040: Add Depreciation: Subtotal: _ 4-A. TOTAL MONTHLY FAMILY INCOME _ 4-B Line 4-A X 12 = TOTAL ANNUAL FAMILY INCOME 5. IF THE TOTAL INCOME SHOWN ON LINE 4-B EXCEEDS THE COUNTY INCOME LIMIT of $ THE APPLICANT IS NOT ELIGIBLE FOR THE PROGRAMS OFFERED BY MHC. *************************************************************************************** NOTE: THIS FORM MUST BE COMPLETED SHOWING ALL GROSS FAMILY INCOME AND SUBMITTED WITH THE COMPLIANCE PACKAGE. ***************************************************************************************** Income Rev. 01/98

11 MORTGAGE CREDIT CERTIFICATE PROGRAM LENDER CLOSING CERTIFICATE ("the Lender") states the following: The Lender has received a Commitment Application and Affidavit submitted by: Name ("Mortgagor") Name ("Co-Mortgagor") SS# SS# The commitment Application and Affidavit was submitted in connection with application for financing ("the mortgage loan") of the purchase of a single family residence located at:(state street, city, county and zip). The Lender has also received and reviewed the Seller Affidavit submitted by the seller of the property shown above and finds no reason to question the truth or completeness of this Affidavit. (Check Statement (a) or (b) regarding Federal Tax Returns) (a) (b) The Lender has obtained true, complete, signed copies of the Mortgagors Federal Income Tax Returns for three (3) year period prior to (date of the loan application) or such other verification acceptable pursuant to the MCC Program. Said tax returns or other verification have been previously submitted to MHC. There is no requirement to obtain the Mortgagor's Federal Income Tax Returns as the Residence is located in a targeted area. The Lender is not aware of any facts or circumstances that would cause it to question the truth or completeness of any portion of such Commitment Application and Affidavit. In the course of processing the documents concerning the Mortgagor's Application prior to executing the mortgage, nothing has come to the Lender's attention which would lead it to believe that any information supplied by the Mortgagor or any other party is false or misleading. After completion of all underwriting, investigation, and verification the Lender has approved the mortgage loan in the amount of $ Dollars ($ ), which is Certified Indebtedness amount. The residence is a,(insert?new, never occupied? or?existing, previously occupied?) single family residence located in the State of Mississippi and is reasonably expected to become the Mortgagor's principal residence within sixty (60) days after the mortgage loan closing. AFTER REASONABLE INVESTIGATION THE LENDER HEREBY CERTIFIES THAT: The financing which the Mortgagor has received has not been used to acquire or replace an existing mortgage or land contract on the residence, unless the previously existing mortgage or land contract was a construction loan, bridge loan, or other temporary financing, none of which had an initial term in excess of twenty four (24) months. The Mortgagor did not receive any portion of the financing of this mortgage loan from a qualified bond program. To the best knowledge of the Lender, based upon reasonable investigation, neither the Lender, the Mortgagor, nor the Seller of the residence have made any negligent or fraudulent, material misstatements in connection with the Mortgagor's Application for a Mortgage Credit Certificate. The Lender has fully completed the attached MCC 007 (" Mortgage Credit Certificate Program Data Summary") and believes the information to be true and accurate. BY: Title: Date: MCC /99

12 Sample MCC Tax Credit Worksheet Loan Amount Financed $150, Interest Rate: X 4.50% Annual Mortgage Interest 6, MCC Percentage X 40% = $2,700.00* *Limited by the IRS to $2000 per year. Remaining $700 can be carried forward to the next year.

13 MORTGAGE CREDIT CERTIFICATE NOTIFICATION OF CHANGE FORM Date: MCC Reservation Number: Mortgagor(s) Name: Property Address: We request that the following action be taken on the above referenced Mortgagor: 1. Extend the MCC Reservation. A check in the amount of $50.00 for the extension fee payable to MHC is attached. 2. Extend MCC Conditional Commitment. A check in the amount of $50.00 for the extension fee payable to MHC is attached. 3. Decrease loan amount from $ to $ 4. Increase loan amount from $ to $ 5. Interest rate change from % to % 6. Change property address to: 7. Transfer loan to the following lender: 8. Cancel MCC Reservation: The reason for cancellation: I understand the $ MCC Reservation fee is non-refundable. _ Signature of Lender MCC 009 Rev. 7/17/09

14 MORTGAGE CREDIT CERTIFICATE PROGRAM DATA SUMMARY SINGLE FAMILY HOME Mortgage Credit Certificate Number: Lender name: Address: Borrower's Name: Social Security # Co-Borrower's Name: Social Security # Marital Status: Married ( ) Single ( ) Race: Borrower's Age: Co-Borrower's Age: Borrower's Gross Annual Income: $ Total Number of People in Household: Adults: Children under age 18: Target Area ( )Yes ( )No Status of Past Home Ownership: Percentage of Certificate: ( ) 25% Single Family Residence Never owned a residence Owned a residence before but more than three years before application Total acquisition cost of residence: $ Amount of Mortgage at closing: $_ Term of Mortgage: Mortgage Loan Interest Rate: Type of Mortgage Loan: ( )Fixed ( )Variable ( )FHA ( )VA ( )Conventional Date of Loan Closing: Monthly Payment: $ Age of Residence: Square Footage: # of Bedrooms: # of Bathrooms: Purchase Price: $ Appraised Value:$ Housing Type: Conventional built Single Family Residence Condominium/Town Home Co-operative Unit Lender Signature: Title: MCC /01

15 EXHIBIT P NOTICE TO MORTGAGOR REGARDING POTENTIAL RECAPTURE TAX This notice applies only to mortgage loans closed on or after January 1, In 1990, Congress passed a law which states that homeowners who receive a loan financed from the sale of mortgage revenue bonds, may be required to repay a portion of the gain, if any, on the sale or disposition of the property. Because of this law, homeowners may be required to pay a "recapture tax" on the gain, from the sale of the property. The "recapture" amount paid would be used in calculating the homeowner's federal tax liability and would be payable with the homeowner's federal tax in accordance with the Internal Revenue Code of The "recapture tax" is based on the gain, from the sale or disposition of the property. There is no "recapture tax" if there is no gain on the sale of the property, or if the property is sold nine (9) or more years after the date the loan is closed. There is no recapture tax, if at the time you sell the property your income is below federal qualifying limits. These limits are adjusted for inflation and family size. The maximum recapture amount is equal to 6.25% of the original principal amount of the loan. Principal Mortgage Amount X 6.25 % = Maximum Recapture Amount Year 1 20% = Year 2 40% = Year 3 60% = Year 4 80% = Year 5 100% = Year 6 80% = Year 7 60% = Year 8 40% = Year 9 20% = In no event may the amount of the recapture exceed fifty (50%) percent of the gain on the sale or disposition of the property. If the recapture amount calculated above exceeds fifty (50%) percent of the gain on the sale of the property, the mortgagor's liability is automatically reduced to fifty (50%) of such gain. The maximum recapture amount is adjusted to reflect the holding period of the residence financed. If the sale occurs within the nine (9) year period, beginning on the date of the loan closing, the recapture amount is equal to the product of the maximum recapture and above percentages. Other special rules may apply in particular circumstances, including, without limitations, if your refinance your home. You may wish to consult with a tax advisor or the local office of the Internal Revenue Service when refinance, sell or otherwise dispose of your home to determine the amount, if any, of your actual recapture tax. See Section 43(m) of the Internal Revenue Code generally. The recapture amount may also be reduced or eliminated based on a comparison of the Mortgagor's "modified adjusted gross income" for the year in which the sale takes place. The modified adjusted gross income is equal to the federal adjusted gross income increased by any earned tax exempt interest and decreased by the gain on the sale of the residence. The adjusted qualifying income for each year is set forth below. If the mortgagor's modified adjusted gross income in one year of the sale of the residence falls below the adjusted qualifying, the recapture amount is eliminated. COUNTY Number of full years Family Size after loan closing Original Limit [ 2 or less in family] [3 or more in family] County Limit $ I have completed the portions of this Notice relating to the maximum recapture amount. I understand and acknowledge the potential for recapture as explained above. Authorized Officer of the Mortgage Lender or Servicer Mortgagor Date REVISION 04/97

16 MORTGAGE CREDIT CERTIFICATE RESERVATION FORM INSTRUCTIONS TO ORIGINATOR: This form must be completed prior to faxing to MHC (601) for the MCC reservation. The following documents must be submitted within three (3) business days of receiving your reservation number. 1. Non-Refundable $300 Reservation fee payable to MHC (No additional charge for DPA, if applicable) 2. Original Reservation Form (MCC000) 3. MCC Transmittal Checklist (Exhibit O) 4. Copy of executed Sales Contract 5. Copy of executed Loan Application (1003) 6. Original executed Potential Recapture Tax Penalty Disclosure Form (Exhibit P) 7. Copy of Homebuyer Education Certificate (Fannie Mae Community Homebuyer Products Only) MCC RESERVATION NUMBER: COMPANY NAME: BRANCH ADDRESS: COMPLETED BY: DATE: PHONE NUMBER: FAX NUMBER: LOAN INFORMATION: BORROWER'S NAME: PROPERTY ADDRESS: APPLICATION DATE: ESTIMATED CLOSING DATE: SALES PRICE: COUNTY NAME: TARGET ( ) NON TARGET ( ) LOAN TYPE: ( ) FHA ( ) VA ( ) RD ( ) Fannie Mae ( ) Freddie Mac INTEREST RATE: % LOAN AMOUNT: $ (INCLUDING MIP, VA FUNDING FEE or PMI) PROJECTED GROSS ANNUAL INCOME: $ COUNTY INCOME LIMIT: $ PROPERTY TYPE: PROPERTY STATUS: SINGLE FAMILY DETACHED PROPOSED CONSTRUCTION SINGLE FAMILY ATTACHED NEW (LESS THAN 1 YEAR OLD) CONDOMINIUM OR PUD EXISTING "DE MINIMIS PUD" MANUFACTURED HOUSING _ Down Payment Assistance (DPA) - 3% of Full Loan Amount w/7.000% Interest Rate: $ (if applicable) (Required for DPA loan, if applicable) - CLOSING ATTORNEY (Name, Address & Phone#): CONTACT PERSON: FOR MHC USE ONLY: RECEIVED BY: DATE: EXPIRATION DATE: MCC 000 REV. 10/11/10

17 MORTGAGE CREDIT CERTIFICATE PROGRAM SELLER AFFIDAVIT (TO BE EXECUTED AT CLOSING) State of Mississippi ) County of ) I, the undersigned, as an essential participant in the application for a Mortgage Certificate ("MCC") being submitted by ("the Buyer"), which MCC may be issued by the Mississippi Home Corporation ("MHC") pursuant to the Mortgage Credit Certificate Program in connection with the Buyers purchase from the undersigned Single Family Residence hereby state the following: 1. I certify that I am the Seller involved of the residence. 2. I certify that the total amount to be paid to me, or anyone acting on my behalf, in connection with the purchase of the residence is $, excluding all usual and reasonable settlement or financing costs. The residence is located in the State of Mississippi, County of at the following address: I Certify that: (a) As of the date of this affidavit, the residence has not been completely constructed, and my estimate of the reasonable cost of completing the residence is $ Not Applicable. I acknowledge and understand that this Affidavit will be relied upon for the purposes of determining the Buyer's eligibility for an MCC. I acknowledge that a material misstatement negligently made in this Affidavit or in any statement made by me in connection with the Buyer's application for a MCC will constitute a federal violation punishable by a fine of $1,000 and that a material misstatement fraudulently made by me in this Affidavit or any other statement in connection with the Buyer's application for an MCC will constitute a federal violation punishable by a fine of $10,000, revocation of the MCC and any other criminal penalty imposed by law. Seller s Signature: Seller s Signature: Subscribed and sworn to before me this day of, 20. Seal Notary Signature Commission Expiration Date MCC 003 Rev. 02/06