of the STATE of MISSISSIPPI 3466 Hwy 80 East, Pearl, MS O F

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1 Members of the Board Clifton Marshall, Chairman Hattiesburg Robert J. (Bob) Bailey, Vice Chairman Yazoo City Joe Bryan Starkville Henry Watts Natchez Jim White - Meridian Veterans Home Purchase Board T.K. Moffett Tupelo of the STATE of MISSISSIPPI 3466 Hwy 80 East, Pearl, MS O F Executive Director Lonnie Carlton A Dear Sir/Madam: Enclosed is your home mortgage loan package. Please complete the attached documents as per the attached instruction sheet. They should be returned to this office with the following fees: 1-60 for Credit Report (Check or Money Order made payable to VHPB) 2-10 for Verification of Employment (Separate Check made payable to VHPB) The application cannot be processed without the Credit Report & Verification Fees. Loan packages are processed in the order they are received. It may take 4 to 6 weeks for the loan to Close. Please inform all parties involved with this timeframe. The application and ALL other required documents should be in our office no later than the cut off date in order to be process for the Board Review at the end of any particular month. You must return pages 0-21 of this loan application AND all documents requested on pages 4, in order for us to begin loan processing. If you have any questions please contact our office for assistance. Sincerely, Lonnie C. Carlton Executive Director LC:sr

2 'B' INSTRUCTIONS FOR COMPLETING LOAN THE PACKAGE COMPLETE ALL PAGES ALL DOCUMENTS REQUESTED AND THE 60 CREDIT REPORT FEE MUST BE SUBMITTED AND Verification of Employment 10 per Borrower Make out a Separate Check for the Verification - 10 to VHPB

3 Estimate of Closing Costs WIDOW / WIDOWER PACKAGE The closing costs quoted below are estimates only. The actual cost may be either higher or lower and will depend on how much the various providers (attorney, termite inspector, etc.) charge for each service. C Typically, these Closing Costs are Negotiated between your Real Estate Agent, and the Sellers Real Estate Agent (or) between you and the seller if no Real Estate Agent is involved. Sellers can pay UP TO 4% of the Purchase price towards YOUR closing cost. (Example: 100,000 x 4%= 4,000) All costs are negotiated between the buyer and the seller: EXCEPT: 1- TERMITE REPORT, 2- COURIER FEES, 3- TITLE INSURANCE BINDER FEE, 4- CLOSING PROTECTION LETTER AND 5- REAL ESTATE COMMISSIONS, WHICH MUST BE PAID BY THE SELLER. All costs listed below with an * are vendors that you may choose and negotiate the fee charged. This Agency is not allowed to provide a list of these providers. Credit Report Fee (paid at application) Appraisal Fee (paid at application) Attorney Fee estimate * Mortgage Title Insurance (3.00 per thousand of loan amount plus 100 binder fee) * Tax Service Fee Hazard Insurance Tracking Fee Flood Certification VHPB Document Prep Fee (MRG Closing Package) Recording Fees VA Funding Fee (can be financed into Loan Amount)... Based on C.O.E. The Veteran Cannot Pay the Following Items: 1-Termite Inspection (estimate) * 2-Courier (express mail) fee Title Binder Fee Closing Protection Letter from Title Company * 5-Real Estate Commission...??? The following fees may apply: Discount Points... None Origination Fee... None Appraisal Final Inspection Fee (if repairs are needed).. (100 per Occurrence) Septic Tank Approvals (required on all septic systems- if it applies)... (50-100*) Water Well Approvals (required on all private water wells-if it applies).. (50-100*) Survey Required if NEW CONSTRUCTION. (100 to 1000 based on acreage*) Verification of Employment Work # Please call on the following items if you have questions, we will be glad to help! In addition to the above closing costs, other cost items are required to close as follows: A hazard insurance policy* for at least one (1) year must be paid at closing either to attorney or to the insurance agent, if paid to agent a paid receipt is required at closing. Also, you are required to pay Two (2) months of hazard insurance to establish your insurance escrow. Property taxes are prorated between buyer and seller at closing for the current year and deposited into your tax escrow account at VHPB. Seller pays from January 1 to date of closing. Borrower pays Two (2) months taxes. Prepaid interest will be collected from the date of loan closing to the end of the month. Example: Prepaid interest on a 250,000 loan may range between 20 to 35 per day, depending on the interest rate at that time. You will need to have Cash Funds Equal to or Greater than TWO MONTHS HOUSE PAYMENTS (OVER AND ABOVE YOUR CLOSING COSTS) in your checking or savings account prior to closing. We will verify 3 days before closing that you have these funds on deposit. Funds cannot be borrowed, or a cash advance on a credit card. Please note: Closing Costs CANNOT be financed into the Loan Amount. Exception: VA Funding Fee - May be financed (or paid in cash.) To determine the amount of the fee, see attached funding fee letter, page 10. The funding fee is calculated on the loan amount. TERMS to be Aware of and the Meaning of each and how they apply to your loan: Down Payment- VA loans do not require a down payment. Example: 100,000 sales price = 100,000 Loan Amount. VA Funding Fee All Veterans pay a Funding Fee unless Exempt on your COE. (See Chart on Page 10.) (The Funding Fee can be financed into the loan amount.) Closing Costs This is different than Down Payment or Funding Fee, and must be paid by either you or the seller. NOTE: The Veterans Home Purchase Board does NOT require that you use any specific Real Estate or Closing Agent. (Keep this page for your Records)

4 Veterans Home Purchase Board 0 State of Mississippi 3466 Highway 80 East, Pearl, MS P. O. Box 54411, Pearl, MS Office: Fax: The information on this form is required for all loan applications. ATTORNEY Attorney Name: Address:, MS Phone: FAX: Contact Name: INSURANCE AGENT Ins Company: Address:, MS Phone: FAX: Contact Name: I have chosen the above Attorney and Insurance Agent on my Home Purchase. Borrower Date

5 Estimate of Closing Costs 1 WIDOW/ER PACKAGE The closing costs quoted below are estimates only. The actual cost may be either higher or lower and will depend on how much the various providers (attorney, termite inspector, etc.) charge for each service. Typically, these Closing Costs are Negotiated between your Real Estate Agent, and the Sellers Real Estate Agent (or) between you and the seller if no Real Estate Agent is involved. Sellers can pay UP TO 4% of the Purchase price towards YOUR closing cost. (Example: 100,000 x 4%= 4,000) All costs are negotiated between the buyer and the seller: EXCEPT: 1- TERMITE REPORT, 2- COURIER FEES, 3- TITLE INSURANCE BINDER FEE, 4- CLOSING PROTECTION LETTER AND 5- REAL ESTATE COMMISSIONS, WHICH MUST BE PAID BY THE SELLER. All costs listed below with an * are vendors that you may choose and negotiate the fee charged. This Agency is not allowed to provide a list of these providers. Credit Report Fee (paid at application) Appraisal Fee (paid at application) Attorney Fee estimate * Mortgage Title Insurance (3.00 per thousand of loan amount plus 100 binder fee) * Tax Service Fee Hazard Insurance Tracking Fee Flood Certification VHPB Document Prep Fee (MRG Closing Package) Recording Fees VA Funding Fee (can be financed into Loan Amount)... Based on C.O.E. The Veteran Cannot Pay the Following Items: 1-Termite Inspection (estimate) * 2-Courier (express mail) fee Title Binder Fee Closing Protection Letter from Title Company * 5-Real Estate Commission...??? The following fees may apply: Discount Points... None Origination Fee... None Appraisal Final Inspection Fee (if repairs are needed).. (100 per Occurrence) Septic Tank Approvals (required on all septic systems- if it applies)... (50-100*) Water Well Approvals (required on all private water wells-if it applies).. (50-100*) Survey Required if NEW CONSTRUCTION. (100 to 1000 based on acreage*) Verification of Employment Work #.. 10 Please call on the following items if you have questions, we will be glad to help! In addition to the above closing costs, other cost items are required to close as follows: A hazard insurance policy* for at least one (1) year must be paid at closing either to attorney or to the insurance agent, if paid to agent a paid receipt is required at closing. Also, you are required to pay Two (2) months of hazard insurance to establish your insurance escrow. Property taxes are prorated between buyer and seller at closing for the current year and deposited into your tax escrow account at VHPB. Seller pays from January 1 to date of closing. Borrower pays Two (2) months taxes. Prepaid interest will be collected from the date of loan closing to the end of the month. Example: Prepaid interest on a 250,000 loan may range between 20 to 35 per day, depending on the interest rate at that time. You will need to have Cash Funds Equal to or Greater than TWO MONTHS HOUSE PAYMENTS (OVER AND ABOVE YOUR CLOSING COSTS) in your checking or savings account prior to closing. We will verify 3 days before closing that you have these funds on deposit. Funds cannot be borrowed, or a cash advance on a credit card. Please note: Closing Costs CANNOT be financed into the Loan Amount. Exception: VA Funding Fee - May be financed (or paid in cash.) To determine the amount of the fee, see attached funding fee letter, page 10. The funding fee is calculated on the loan amount. TERMS to be Aware of and the Meaning of each and how they apply to your loan: Down Payment- VA loans do not require a down payment. Example: 100,000 sales price = 100,000 Loan Amount. VA Funding Fee All Veterans pay a Funding Fee unless Exempt on your COE. (See Chart on Page 10.) (The Funding Fee can be financed into the loan amount.) Closing Costs This is different than Down Payment or Funding Fee, and must be paid by either you or the seller. NOTE: The Veterans Home Purchase Board does NOT require that you use any specific Real Estate or Closing Agent. Borrower Signature Date

6 FOR YOUR INFORMATION PLEASE READ CAREFULLY 2 ABOUT THE VETERANS HOME PURCHASE BOARD The Veterans Home Purchase Board (VHPB) was established by an Act of the Mississippi State Legislature to provide a benefit in the form of a mortgage loan to Mississippi veterans in appreciation for their service to our country. A direct loan from the VHPB program provides affordable home ownership opportunities and improves the quality of life for many Mississippi veterans. Although not designated as a low income housing agency, VHPB is able to assist many veterans who would not normally qualify for another mortgage loan. Mississippi is on the forefront of this veteran benefit. VETERANS HOME PURCHASE BOARD ELIGIBILITY AN UNMARRIED SURVIVING SPOUSE OF AN ELIGIBLE VETERAN WHO DIED AS A RESULT OF SERVICE-CONNECTED INJURIES MAY QUALIFY FOR THIS PROGRAM. SEE PAGE 17 VETERANS HOME PURCHASE BOARD PROPERTY ELIGIBILITY Property must be located in the State of Mississippi Property must be a single family residence to qualify. Townhouses with fee simple title to the lot may qualify Raw land (land without a residence on it), mobile homes, duplexes, commercial property and condominiums do not qualify. VETERANS HOME PURCHASE BOARD LOAN TERMS The interest rate is fixed for the term of the loan. Available terms are 10, 15, 20, 25, and 30 year monthly amortizations. Hazard insurance and taxes are collected monthly along with payments and placed in an escrow account INTEREST RATE AT THE TIME OF THIS MAILING-SUBJECT TO CHANGE WITHOUT NOTICE 15 YEARS OR LESS 2.75% fixed 16 TO 30 YEARS 3.0% fixed Permanent financing of a construction loan used to construct a single family residence is also available, subject to VA guidelines. The Veterans Home Purchase Board cannot refinance your equity or an existing permanent home mortgage. If you own a home that is not adequate for your needs at the time of the loan application, according to the laws that govern this Agency you will be required to divest yourself of this home prior to the closing of the VHPB loan on the new purchase. A recorded Warranty Deed with the book and page numbers will be required as proof of divestment.

7 CONTACT INFORMATION 3 Mortgage Operations Alisha Burgess- Mark Tyler- Kim Benton- Connie Arnold- Tim Eastman- Cynthia Barker- Lonnie C. Carlton- Loan Officer Loan Officer Loan Closings Loan Closings Loan Supervisor Compliance Officer Executive Director Correspondence Information: Telephone Number: (601) FAX Number: (601) Street Address: 3466 Highway 80 East Pearl, MS Mailing Address: P. O. Box Pearl, MS Website: teastman@vhpb.state.ms.us NOTE: Once we receive your loan application, you will receive an from time to time, updating you on the status and progress of your loan. The will come from: and have a LINK for you to click on. Click on the link and follow the instructions.

8 DOCUMENTS OR INFO TO BE PROVIDED BY YOU 4 NO APPLICATION WILL BE PROCESSED IF THESE DOCUMENTS OR INFORMATION ARE NOT INCLUDED Include a Check or Money Order for 60 to cover the credit report and a separate check or money order for 10 for Verification of Employment. If you want the appraisal to be ordered immediately - please include a check for 425 as well. Make all checks out to: Veterans Home Purchase Board or VHPB If you want the appraisal to be ordered immediately- please include a check for 425 in addition to Make all checks out to: Veterans Home Purchase Board or VHPB Original payroll check stubs with year-to-date payroll information for MUST be submitted covering the most recent 30 days. Original W-2 for 2014 and 2015 A W-2 stub printed from employer website is considered an original. DO NOT SEND IN Tax Returns - IF you are NOT Self-Employed or do Not Receive Commission Income. Bank statements, money market accounts, credit union statements, TSP savings accounts for the last two months. All pages including back must be submitted. Do not black out account numbers. Copy of social security card and drivers' license (cannot be expired) for borrower. Copy of separation papers or DD214 (If discharged after 1950 a DD214 is required). Copy must show CHARACTER of SERVICE. (Correct form will say Member 4 form on the bottom right corner of the DD-214). Submit original Certificate of Eligibility if you have one issued within last 60 days. Also: Form (Doc # 19) New construction: if you have a construction loan include: Copy of the Note & (Contract if you have a Builder) Copy of the CURRENT OWNERS (seller) Warranty Deed. Appraisal will not be ordered without the Warranty Deed. Bankruptcy petition, plan and discharge, if applicable. You must include the list of debts discharged. IF divorced with minor children, a copy of divorce decree and child custody agreement is required. Do not include this child on the application as a dependent unless the child lives in your home. If child support is being used to qualify you for a loan, you must furnish proof of receiving the support for the previous 12 consecutive months. DO NOT SEND in any Tax Returns if you are NOT Self Employed or Do Not Receive Commission Income SELF-EMPLOYED INDIVIDUALS MUST INCLUDE THE FOLLOWING DOCUMENTATION. IF YOU DID NOT REPORT THE INCOME TO IRS WE CAN NOT COUNT THE INCOME WHEN QUALIFYING YOU FOR A LOAN. Last two years' personal tax returns with all schedules and attachments. (Both years must be signed by all taxpayers) If a corporation include last two years corporate returns also. (Both years must be signed by all taxpayers) A year-to-date balance sheet prepared by a CPA or prepared in a generally recognized format. A year-to-date profit and loss statement for the current year. (Must be no less than 90 days old), prepared by a CPA or prepared in a generally recognized format.

9 BORROWERS AUTHORIZATION 5 I hereby authorize the VETERANS' HOME PURCHASE BOARD to determine my/our credit worthiness for a loan that I/we have applied for; the undersigned applicant(s) hereby authorize the release of information concerning: - I authorize the release of all information in my credit file - Disability income from any source - Social Security income - Retirement income - Current and previous employment (including but not limited to: income, hours worked, dates, types of work, titles) - Banks, savings and loans, credit unions and mutual funds accounts (Included but not limited to balances, average balance, highest balances, account numbers, dates, styling, etc.) - Current and previous loans and any other types of extended credit (including but not limited to: current balance, average balances, highest balances, account numbers, dates, payments, terms, payment records, maturity dates, etc.) - Current and previous residences (including but not limited to: lease payments, dates, payment records, etc.) - Earnest money, or other similar amounts paid, or to be paid - Amounts that are gifts that have been received or will be received PRIVACY ACT NOTICE STATEMENT This information is to be used by the agency collecting it in determining whether you qualify as a prospective mortgagor, for mortgage insurance or guaranty as a borrower for a rehabilitation loan under the agency's program. It will not be discussed outside the agency without your consent except to financial institutions for verification of your deposits, your employer(s) for verification of employment and as required and permitted by law. You do not have to give us this information, but if you do not, your application for approval as a prospective mortgagor for mortgage insurance or guaranty as a borrower for a rehabilitation loan may be delayed or rejected. This information request is authorized by Title 38, USC., Chapter 37. A copy of this authorization and signature(s) of the undersigned, shall be deemed to be the equivalent of the original, and can be used as such. SIGNATURE OF BORROWER DATE

10 ELIGIBILITY STATEMENT 6 1. Date entered service: Date Discharged 2. Branch of service 3. Are you making this application based on your eligibility as a member of the Mississippi National Guard or reserve? 4. If you are making this application based on your eligibility as a member of the National Guard or Reserves have you been a member for over 6 years?. 5. What was your address when you the entered service 6. Current period of residency in Mississippi beginning 7. Were you a resident of Mississippi when you entered the service? 8. If not, have you been a resident for two years immediately preceding this application? 9. If married, was your spouse a resident of this state at the time of your marriage, and a resident for two consecutive years immediately preceding this application? (If you were NOT a resident of the state at the time of your enlistment, have NOT lived in the state for at least the last two years and did not marry a resident of the state who can meet the two year residency requirement, please review the enclosed brochure for program eligibility.) : Do you currently own a home? 11. Have you ever owned a home? 12. Have you ever had a VA loan guaranteed by the Department of Veterans Affairs? 13. If yes, has this home been sold? Date Sold 14. Were you released from liability by VA? 15. Have you ever had a home financed by the Veterans Home Purchase Board or the Veterans Farm and Home Board? 16. If yes, when? 17. If yes what was the account number? 18. Have you EVER had: A Deed in Lieu of Foreclosure Yes / No 19. IF YES, when? and reason A Foreclosure Yes / No A Bankruptcy Yes / No If YES, Chapter 7 or Chapter 13 Date Dismissed 20. Are you Delinquent on ANY FEDERAL LOAN, i.e., IRS, Benefits, Student Loans, etc. Yes / No IF so, which and how much? 21. Do you currently have/owe: Collections Yes - Amount / No Judgements Yes - Amount / No Liens Yes - Amount / No Back Child Support Yes - Amount / No IF SO, when and reason: Other Needed Information not on loan application. Nearest RELATIVE NOT living in your household Name: RELATIONSHIP: Address: City: ST: ZIP: Phone #: ( ) I ALSO UNDERSTAND and AGREE to make NO NEW PURCHASES, such as: Vehicles, Appliances, Furniture, etc., or increase my Credit Card Limits or Debt of any kind from the Date of Application until the Loan Closes. To do so, may cause your loan to be Denied due to Debt to Income ratios even if it has previously been Approved. The VHPB may pull a New Credit report prior to close. Signature of (Borrower) Date Signed

11 E-Sign Act Disclosure and Consent 6a Please read this Electronic Signatures in Global and National Commerce Act (E-Sign) Disclosure and Consent carefully and keep a copy for your records. You can record your consent to the electronic ( ) delivery of the disclosures, agreements, communications and any other documents needed in the processing or servicing of your loan request by checking the blank below. If at any time you want to receive an additional copy of any disclosure, agreement, communication or other document in a paper format, please contact us by phone at: or write us at P.O. Box 54411, Pearl Mississippi Paper Delivery of Disclosures and Notices: You have the right to receive a paper copy of the disclosures, notices and other documents needed in the processing or servicing of your loan request and if you choose to so do at no charge, please request it in one of the following ways: 1. Send an message with your name and mailing address to vhpbinfo@vhpb.state.ms.us. 2. Call us at Mail a request to P.O. Box 54411, Pearl, Mississippi To receive an electronic copy of the disclosures, agreements, communications and other documents needed in the processing or servicing of your loan request, you must have the following equipment and software: A personal computer or other device which is capable of accessing the Internet. You must have software which permits you to receive and access Portable Document Format or PDF files, such as Adobe or Acrobat Reader. To retain a copy of the Disclosures, agreements, communications or other documents, your device must have the ability to download and store PDF files. Withdrawal of Electronic Acceptance of Disclosures and Notices: You can also contact us in any of the ways described in the preceding paragraph to withdraw you consent to recurve any future disclosures, agreements, communications and other documents electronically. If you withdraw your consent, it may delay the closing of your loan due to regulatory requirements. I prefer my documentation, disclosures and other documents be sent by: (CHECK ONE) US Mail Borrower s Borrower s Cell: / / Signature of Borrower Date Signed

12 PROPERTY INFORMATION SHEET 7 (Failure to answer the following WILL delay your application.) *** Subject Property Address: County of: 1. Owners name of home you intend to purchase? 2. Name & telephone number of person who lives in home? 3. Name & telephone number of person to call to get in house to appraise? 4. Name & phone # and address of Listing agent 5. Name & phone # and address of Selling agent 6. Does this property have Covenants? If yes, ask realtor or owner for a copy & submit with application. 7. What is the estimated heated floor space of home? 8. What is the age of the home? 9. What is the estimated annual property taxes? (ask realtor or county tax assessor) 10. What is the estimated annual home owners insurance? (call your agent) 11. What is the estimated annual wind & hail insurance? (required in Pearl River, Stone, George, Hancock, Harrison, Jackson Counties) 12. What is the estimated annual flood insurance? (required if appraiser states property is located in a flood zone, if property has ever flooded or if Property is located in a Special Flood Hazard area) 13. Does this property have a private sewer system (septic/treatment plant)? 14. Does this property have a private water well? (if yes to either question, and your loan is approved you must have health authority approval for the private system.) 15. Does this property have a fireplace? Is it wood burning or gas log? 16. Is this leasehold property? 17. If leasehold who holds the lease? Pearl River Valley or16th Section School Board. 18. How much is the annual leasehold rent? 19. If this is newly constructed home or a home under construction please give the name, address and telephone number of the builder: 20. Will the builder give you the state required one year Builder s Warranty? 21. What is the builders Mississippi license number? 22. What is the builders VA ID number? (#21 & #22- required on all new construction unless veteran is acting as own builder) 23. Did you act as your own builder subcontracting the work out? 24. Do you have a temporary construction loan or bridge loan? If yes, with what bank (attach copy of note) 25. When will the home be completed or when was it completed as a new home 26. Appraisals are normally ordered after the loan has been approved. You may choose to order the appraisal at the beginning of the application process before the loan is approved. You will be required to submit a check for the appraisal and a copy of the sellers warranty deed before we request the appraisal be done. The check will be deposited as soon as it is received and once the appraisal has been requested, the money has been spent and we cannot refund the appraisal fee. (New Construction appraisal will not be ordered until the home is 100% complete.) 27. When do you wish to order the appraisal: Initial your choice: Request when credit is ordered - (include a Check made out to VHPB for 425) Wait for Loan approval (I will submit a Check once I am approved) 28. Give detailed directions to the property from the nearest main highway

13 PROPOSED CONSTRUCTION INFO 8 1-NEWLY CONSTRUCTED HOMES 2-HOMES ALREADY UNDER CONSTRUCTION The Veterans Home Purchase Board (VHPB) is a State of MS agency. A government agency operates differently from a bank in the initial transaction. The VHPB actually acquires the home and then sells the home to the veteran. This transaction is secured by a Deed of Trust and a Note that is payable over a period of years. The VHPB will not advance any money during home construction. We will secure the home with permanent financing only when the home is fully constructed. You must obtain the construction loan from a lender of your choice. This loan must be a short term loan with repayment terms of less than 3 years. You have THREE OPTIONS: 1- You may get pre-approved for a loan and then go to the construction lender for the construction loan. The VHPB pre-approval is valid for 120 days after that time we will be required to update the pre-approval by getting a new credit report, re-verifying your income and assets. As long as nothing has changed your approval will be good for another 120 days. When the home is complete then the VHPB will order a VA appraisal and as long as the home meets VA guidelines and appraises for the amount you owe the construction lender then the VHPB will pay-off the construction lender and your permanent loan will be with the VHPB. The VHPB is required to order a VA appraisal we will be unable to use the appraisal ordered by the construction lender unless they also order a VA appraisal and transfer to us at some point in time. 2- You may go to the construction lender get your short term construction loan and build your home. When the home is complete you will then apply to the VHPB for a permanent loan if approved VHPB will order a VA appraisal and as long as the home meets VA guidelines and appraises for the amount you owe the construction lender then the VHPB will pay-off the construction lender and your permanent loan will be with the VHPB. The VHPB is required to order a VA appraisal. We will be unable to use the appraisal ordered by the construction lender unless they also order a VA appraisal and transfer to us at some point in time. 3- In some cases the builder will finance the construction and no construction loan will be required The home must be built according to FEMA guidelines concerning the elevation of property. You must meet all eligibility requirements of the VHPB as a Veteran, and as a Mississippi Resident. You must meet all of the credit and income guidelines as established by the VHPB and the Dept. of Veterans Affairs. Once the loan is closed all payments on the Deed of Trust Note will be made to the VHPB.

14 TO WHOM DO YOU PAY RENT AT THIS TIME RENTAL HISTORY/HOME OWNERSHIP MUST COVER 9 THE LAST TWO CONSECUTIVE YEARS. NAME INDIVIDUAL OR COMPANY TO WHOM YOU PAY RENT MAILING ADDRESS TELEPHONE NUMBER FAX NUMBER ADDRESS AMOUNT OF RENT: HOW LONG HAVE YOU LIVED HERE: FROM TO IF YOU HAVE BEEN LIVING AT YOUR PRESENT ADDRESS FOR LESS THAN TWO YEARS TO WHOM DID YOU PREVIOUSLY PAY RENT NAME INDIVIDUAL OR COMPANY TO WHOM YOU PAY RENT MAILING ADDRESS TELEPHONE NUMBER FAX NUMBER ADDRESS AMOUNT OF RENT: HOW LONG DID YOU LIVE HERE: FROM TO NAME INDIVIDUAL OR COMPANY TO WHOM YOU PAY RENT MAILING ADDRESS TELEPHONE NUMBER FAX NUMBER ADDRESS AMOUNT OF RENT: HOW LONG DID YOU LIVE HERE: FROM TO If you are currently buying a home to whom do you pay a mortgage payment?. If you pay no rent/or mortgage payment please explain why. Any special circumstances can be explained on page 16d. Signature of (Borrower) Date Signed

15 10 INTEREST RATE AND DISCOUNT DISCLOSURE STATEMENT 1. This statement regarding the interest rate and discount points that you may pay on a mortgage guaranteed by V.A. (Department of Veterans Affairs) must be delivered to you prior to execution of the borrower s certification on the HUD/VA Addendum to the Uniform Residential Loan Application. 2. V.A. does not establish the interest rate for mortgage loans to be guaranteed or set either a maximum or minimum on the interest rate or on discount points that may be paid by you. This means that you may pay such interest rate and discount points as you and the lender agree upon. The seller may also pay the discount points, or a portion thereof, if you and the seller agree to such an arrangement. 3. It is important for you to understand that the interest rate and discount points and the length of time the lender will honor the loan terms are all freely negotiable with the lender. Lenders may agree to offer the loan terms for a definite period of time (i.e., 30, 60, or 90 days), or may refuse to do so. This arrangement is commonly referred to as a lock-in agreement. Keep in mind that your agreement with the seller will also affect the date you can close your loan. 4. The terms of your agreement with the lender will determine the degree, if any, that the interest rate and discount points may change before closing. An increase of more than 1 percent in the interest rate requires reunderwriting of the loan approval by V.A. or by the lender. It may be necessary for the lender to obtain your signature on a new application. If, after reunderwriting, it is determined that you remain qualified from a credit risk standpoint, the conditions of your agreements with the lender and the seller may require you to complete the transaction or lose your deposit. IT IS YOUR RESPONSIBILITY TO ASSURE THAT YOU UNDERSTAND THE TRANSACTION. Borrower s Signature Date of Signature

16 Interest Rate Lock in Disclosure 11 Existing Property: Loan applications for the purchase of existing property will be locked in at the time of loan approval by the Board. This includes new homes currently under construction being processed as an existing property (without VA inspections). Loan applications that are reviewed by the Board without a valid sales contract and property address are considered pre-approvals and will not be locked in at the time of Board review. Pre-approvals will be presented for formal approval to the Board at the next scheduled meeting upon receipt of a valid sales contract and property address. The locked in interest rate will be good for 45 days after Board approval. If the loan is not closed within the 45 day lock in period then the veteran will receive the original locked in interest rate or the current interest rate available at the time of closing, whichever is greater. Proposed Construction: Loan applications for the purpose of new construction will not be locked in to an interest rate at the time of Board approval. A loan for the purpose of new construction may be locked in by the veteran at any time during construction. The loan will be locked in no less than 10 days prior to closing. The veteran must notify VHPB in writing of their intent to lock in the available interest rate. The locked in interest rate will expire 45 days after the initial lock in date. An extension of the commitment letter and/or closing does not include an extension of the interest rate lock in period it is only an extension of the time frame in which to complete the construction process and to close the loan. If the loan closing exceeds the original lock in period of 45 days, the applicant will receive the original locked in interest rate or the current interest rate available at closing, whichever is greater. Borrower Date

17 FEDERAL EQUAL CREDIT OPPORTUNITY ACT NOTICE 12 The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicants income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with this law concerning the LENDER is the Federal Trade Commission, Equal Credit Opportunity, Washington, D.C., RIGHT TO FINANCIAL PRIVACY ACT NOTICE This notice to you as required by the Right to Financial Privacy Act of 1978 and the Financial Services Modernization Act of 1999 that by your signature herein, you are authorizing the LENDER to: Obtain a credit report from a credit reporting agency; to order and obtain, deposit verifications for all accounts listed by you on your loan application; to obtain loan verifications for all loans and charge accounts listed by you on your loan application; and to obtain employment verifications from all employers, present and prior listed by you on your loan application. If you are self-employed, you are hereby agreeing to provide the LENDER with a copy of your completed income tax returns for the previous two years, as well as an audited profit and loss statement on your business, if applicable. GRAMM-LEACH-BLILEY ACT (GLBA) OF 1999 We collect nonpublic personal information about you from the following sources: Information we receive from you on applications and other forms; Information about your transactions with nonaffiliated third parties; Information about your transactions with us; and Information we receive from a consumer reporting agency. We do not disclose any nonpublic personal information about you to anyone, except as permitted by law. If you payoff your mortgage account and no longer have an active file with us, we will adhere to the privacy policies and practices as described in this notice. We restrict access to your personal and account information to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT The U. S. Patriot Act (Section 326) requires us to obtain, verify, and record information that identifies each person(s) who opens an account. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver s license or other identifying information. I/We acknowledge that we have been advised of the above information, understand and agree to the same, and have received a copy of this notice. Signature of Borrower Date

18 ADDITIONAL INFORMATION REQUIRED 13 A. DEPENDENT INFORMATION CHILD CARE 1. Do you have any children that live with you? 2. What are their ages? 3. Do you pay for Child CARE? 4. How much per week? 5. To whom do you pay this childcare? 6. If you have children that live at home under age 12 but do not pay childcare, why not? 7. Do you have children under the age of 21 that DO NOT live with you? CHILD SUPPORT 8. If yes, do you pay Child SUPPORT? 9. How Much per Month (provide copy of child support document, divorce decree,etc.) 10. To whom do you pay this child support? 11. Do you have any other dependents (children or adults) that live with you and you are responsible for their care? 12. If yes, please give the details B. EMPLOYMENT GAP INFORMATION 1. BORROWER: I have a gap in employment from: to. I was unemployed because:. C. PAYROLL DEDUCTION/ALLOTMENT 1. BORROWER: List any deduction from your payroll checks that are for something other than Payroll taxes. List amount and purpose of deduction. (EXAMPLE: loan, PERS, savings account, etc. Signature (Borrower) Date Signed

19 Divestment of Property 14 I understand that if the borrower owns a property, i.e., home, condo, rental property, modular, mobile home, etc., I /We must divest/sell this property BEFORE the VHPB Loan can close. Divestment may be accomplished by sale of the property; or by an irrevocable lease/ purchase contract, or land contract where title passes after prescribed payment. I understand that I will be required to furnish proof of Divestment BEFORE the loan can close. (Required Docs: A copy of the transfer deed and the HUD-1 Closing Statement) I plan to divest my property by this date: (Complete this line if you own any dwelling.) My property is listed for sale by a Real Estate Agent: The MLS# is: My property is listed by myself as a For Sale By Owner: Date listed: I certify that in making application for this home purchase that I am in need of this property because: (Initial all that apply) I do not own any property My current home is inadequate because: I am compelled to move due to these extenuating circumstances: I understand that these loans are made only on properties approved by our Board and certified by the Department of Veterans Affairs. I understand that I must meet stringent income and credit criteria to qualify. I understand that credit approval can take from 4-6 weeks. I understand that the VHPB does not request appraisals until credit has been approved unless specifically requested to do so by the Veteran. I understand that it takes up to 10 business days after the appraisal is ordered for an appraisal to be received. I understand that I may request an appraisal to be ordered when the credit report is ordered, but if I do so I will not be entitled to a refund of the appraisal fee if my loan is denied. I will occupy the house for which applied within 60 days following availability or completion as my principal residence and will divest myself of ownership of any principal residence I now own prior to closing this purchase. I will use no funds provided for this home purchase or instruct my agents to do so, either directly or indirectly, for ANY purpose other than the permanent financing of my home. I understand that none of the funds provided for this home purchase can be given to me, or my spouse either directly or indirectly. Closing costs cannot be financed. I further understand that once the purchase is closed and title passed to me that it will be secured by a Note and Deed of Trust from me to the Mississippi Veterans' Home Purchase Board providing, among other standard items in such instruments, that I am responsible for: Monthly payment of principal and interest in the stated amount until contract is satisfied. Payment of one full year's hazard insurance premium to the insurance company I select at time of closing. A sufficient amount to be paid monthly to establish an escrow account from which future yearly premiums will be purchased. Payment of taxes to be escrowed monthly to pay future taxes. Immediate payment of any delinquent amounts or any additional funds advanced for insurance or taxes on my behalf. Payment of a 4% late fee on any amount due and not paid by the 15th of the month due. (All payments are due on the 1st and late on the 15th of each month). Payment of all expenses incurred by the Board in collection of overdue payments. Notifying the Board of any change in property condition, occupancy, or any damage suffered to the property immediately after reporting to my insurance company. Maintaining the property in good repair and continuing to occupy as my principal residence. Notifying the Board at least 30 days in advance if any transfer of property is considered. (Deeds of trust bear a clause that prevents transfer until the loan is cancelled unless the Board approves the transfer after review of the new owners qualifications and your reason for transfer request.) I hereby certify that I have prepared this application to the best of my ability, and have provided complete and accurate information. I need and desire this home for my personal residence as a "benefit made available to Mississippi veterans by the State of Mississippi and have no intent to circumvent the intent and purpose of this veterans benefit. I request that this application be considered and approved for the purchase assistance on the property as contained on the application. Signature of Borrower DATE

20 INSURANCE COVERAGE REQUIREMENTS 15 HOMEOWNERS (HAZARD, FIRE, ETC) You are required to obtain Homeowners Insurance for the amount of the loan. High insurance deductibles (over 1000) must be approved by the VHPB. Please have the insurance agent fax a copy of the declarations page as soon as the coverage is secured. WINDSTORM If windstorm is required for your property you must have coverage for 100% of the Loan Amount. Your deductible can be no more than 2% of the Loan Amount. Please have the insurance agent fax a copy of the declarations page as soon as the coverage is secured. FLOOD If Flood Insurance is required for your property, you are required to have coverage for the Loan Amount or the maximum allowed by the National Flood Insurance Program (NFIP)-up to the loan amount. Please have the insurance agent fax a copy of the declarations page as soon as the coverage is secured. All property regardless of where it is located is in a floodplain. Some property is located in a Special Flood Hazard Area (SFHA). Before your loan is closed, the Veterans Home Purchase Board (VHPB) will obtain a Flood Certificate to determine if you property is in a SFHA. If the property is in a SFHA you will be required to purchase flood insurance through the NFIP if the community where the property is located participates in the NFIP. If the property you are purchasing is not in a SFHA, you may not purchase flood insurance through the NFIP. However, you may purchase flood insurance through a private insurance company. Please keep in mind that all property is located in a floodplain, but only certain properties are located in a SFHA. The VHPB recommends that all borrowers purchase flood insurance even if the subject property is not in a SFHA. Please determine that the flood insurance you purchase will cover damage caused by storm surge, wave wash, tidal waves, or overflow of any body of water over normally dry lands. IF the home you intend to purchase has ever flooded you will be required to purchase flood insurance even if the property is not now classified as being in a SFHA. For coastal property, please be aware that you may have to elevate the house structure to meet FEMA elevation requirements (proposed or adopted). Any NEW construction in the 3 coastal counties of Mississippi must meet the PROPOSED FEMA elevations requirements. (ABFE-Advisory Base Flood Elevation) I have read this information and acknowledge the reading by my signature below. Signature of Borrower Date Signed

21 Veterans' Home Purchase Board Uniform Residential Loan Application This application is designed to be completed by the applicant(s) with the Lender's assistance. Applicants should complete this form as "Borrower" or "Co-Borrower", as applicable. Co-Borrower information must also be provided (and the appropriate box checked) when the income or assets of a person other than the "Borrower" (including the Borrower's spouse) will be used as a basis for loan qualification or the income or assets of the Borrower's spouse or other person who has community property rights pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan. If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below): 16 Borrower Co-Borrower I. TYPE OF MORTGAGE AND TERMS OF LOAN Mortgage x VA Conventional Other (explain): Agency Case Number Lender Case Number Applied for: FHA USDA/Rural Housing Service Amount Interest Rate No. of Months Amortization Type: x Fixed Rate Other (explain): % GPM ARM (type): II. PROPERTY INFORMATION AND PURPOSE OF LOAN Subject Property Address (street, city, state, & ZIP) Legal Description of Subject Property (attach description if necessary) No. of Units Year Built Purpose of Loan Purchase Construction Other (explain): Property will be: Refinance Construction-Permanent Primary Residence Secondary Residence Investment Complete this line if construction or construction-permanent loan. Year Lot Acquired Original Cost Amount Existing Liens (a) Present Value of Lot Complete this line if this is a refinance loan. Year Acquired Original Cost Amount Existing Liens (b) Cost of Improvements Total (a+b) Purpose of Refinance Describe Improvements made to be made Cost: Title will be held in what Name(s) (Add Spouse Name, Even if not on the Loan) Manner in which Title will be held Estate will be held in: Source of Down Payment, Settlement Charges and/or Subordinate Financing (explain) x Fee Simple Leasehold (show expiration date) Borrower Borrower's Name (include Jr. or Sr. if applicable) III. BORROWER INFORMATION Co-Borrower Co-Borrower's Name (include Jr. or Sr. if applicable) Social Security Number Home Phone (incl. area code) DOB (mm/dd/yyyy) Yrs. School Social Security Number Home Phone (incl. area code) DOB (mm/dd/yyyy) Yrs. School Married (includes registered domestic partners) Unmarried (includes single, divorced, widowed) Separated Dependents (not listed by Co-Borrower) No. Ages Present Address (street, city, state, ZIP/ country) Own Rent No. Yrs. Married (includes registered domestic partners) Unmarried (includes single, divorced, widowed) Separated Dependents (not listed by Borrower) No. Ages Present Address (street, city, state, ZIP/ country) Own Rent No. Yrs. Mailing Address, if different from Present Address Mailing Address, if different from Present Address If residing at present address for less than two years, complete the following: Former Address (street, city, state, ZIP) Own Rent No. Yrs. Former Address (street, city, state, ZIP) Own Rent No. Yrs. Former Address (street, city, state, ZIP) Own Rent No. Yrs. Former Address (street, city, state, ZIP) Own Rent No. Yrs. Uniform Residential Loan Application Freddie Mac Form 65 7/05 (rev. 6/09) Borrower Co-Borrower Fannie Mae Form /05 (rev. 6/09) Page 1 Calyx Form - Loanapp1.frm (09/2013)

22 Borrower IV. EMPLOYMENT INFORMATION Co-Borrower Name & Address of Employer Self Employed Yrs. on this job Name & Address of Employer Self Employed Yrs. on this job 16a Yrs. employed in this line of work/profession Yrs. employed in this line of work/profession Position/Title/Type of Business Business Phone (incl. area code) Position/Title/Type of Business Business Phone (incl. area code) If employed in current position for less than two years or if currently employed in more than one position, complete the following: Name & Address of Employer Self Employed Dates (from-to) Name & Address of Employer Self Employed Dates (from-to) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Name & Address of Employer Self Employed Dates (from-to) Name & Address of Employer Self Employed Dates (from-to) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Name & Address of Employer Self Employed Dates (from-to) Name & Address of Employer Self Employed Dates (from-to) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Name & Address of Employer Self Employed Dates (from-to) Name & Address of Employer Self Employed Dates (from-to) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) Position/Title/Type of Business Monthly Income Business Phone (incl. area code) V. MONTHLY INCOME AND COMBINED HOUSING EXPENSE INFORMATION Gross Monthly Income Borrower Co-Borrower Total Base Empl. Income* Overtime Bonuses Commissions Dividends/Interest Net Rental Income Other (before completing, see the notice in "describe other income," below) Total Rent Combined Monthly Housing Expense Present Proposed First Mortgage (P&I) Other Financing (P&I) Hazard Insurance Real Estate Taxes Mortgage Insurance Homeowner Assn. Dues Other: Total * Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements. Describe Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan. B/C VA Disability Military Retirement Guard Drill Pay Monthly Amount B/C Social Security Other Retirement Child Support/Alimony Income Monthly Amount Uniform Residential Loan Application Freddie Mac Form 65 7/05 (rev. 6/09) Borrower Co-Borrower Fannie Mae Form /05 (rev. 6/09) Page 2 Calyx Form - Loanapp2.frm (09/2013)