**[MINNESOTA RURAL DEVELOPMENT GUARANTEED LOAN CHECKLIST --
1/10/08]{.underline}**

**APPLICANT NAME**:
**COUNTY**:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

**PROPOSED CLOSING DATE**: \_\_\_\_\_\_\_\_\_\_\_\_

**MAIL CONDITIONAL COMMITMENT TO**:

**FAX \# FOR
INVESTOR**:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ **FAX \#
FOR LOAN OFFICER**:

***[Fax reservation request (1980-86, 1003 & 1^st^ page of purchase
agreement) to 651-602-7825 at least 3 days prior to submitting the
credit package]{.underline}.***

1)  \_\_\_\_\_ Form 1980-21, Request for SFH Loan Guarantee. **Must be
    fully completed with the guaranteed loan amount in item #14.**

2)  **\_\_\_\_\_** CAIVRS numbers. Enter in item #13 of Form 1980-21

3)  \_\_\_\_\_ Updated typed 1003 \~ application, signed by applicants
    and lender

4)  \_\_\_\_\_ Completed 1008 \~ underwriting transmittal signed by
    underwriter **or** completed 1008 and a copy of the underwriter's
    approval document

5)  \_\_\_\_\_ Copy of current credit report. Tri-merge or RMCR are
    acceptable

6)  \_\_\_\_\_ Verification of rent if credit scores are under 620

7)  \_\_\_\_\_ Written verification of employment for current
    employer(s) along with copy of recent pay stub **OR** verbal
    verification and pay stubs covering 30 days plus 2 years W-2s

8)  \_\_\_\_\_ Documentation of 24 months employment if VOE does not
    cover 2 years

9)  \_\_\_\_\_ Documentation of child support, unemployment, social
    security (if applicable)

10) \_\_\_\_\_ Verification of deposit **or** copy of two recent bank
    statements

11) \_\_\_\_\_ Copy of complete purchase agreement

12) \_\_\_\_\_ Documentation of lead based paint notification if house
    built before 1978

13) \_\_\_\_\_ Appraisal report completed by FHA Roster appraiser

Check website: <https://entp.hud.gov/idapp/html/apprlook.cfm>

14) \_\_\_\_\_ Appraisal by non-FHA Roster appraiser. Also need
    completed home inspection report

15) \_\_\_\_\_ New construction: 3 inspections required per RD 1980.341
    or certificate of occupancy. Also refer to current AN. Documents
    must be maintained in lender\'s file but are not required to be
    submitted to RD.

16) \_\_\_\_\_ Septic certification needed if required by county,
    appraiser/inspector's evaluation requires further inspection or loan
    is being sold to MHFA

17) \_\_\_\_\_ Water test if non-public system. Test for nitrates,
    bacteria and lead

18) \_\_\_\_\_ FEMA 81-93, "Flood Determination"

19) \_\_\_\_\_ Verification of applicant's non-U S Citizenship status,
    if applicable

20) \_\_\_\_\_ Divorce decree (if applicable)

**[LOAN CLOSING DOCUMENTS]{.underline}**

**MAIL ORIGINAL LOAN NOTE GUARANTEE TO**:

ATTN:

1\) \_\_\_\_\_ Form 1980-18, Conditional Commitment, signed by lender
certifying information

2\) \_\_\_\_\_ Copies of any required conditions not previously
submitted

3\) \_\_\_\_\_ Copy of signed promissory note

4\) \_\_\_\_\_ Copy of real estate mortgage

5\) \_\_\_\_\_ Copy of HUD- settlement statement

6\) \_\_\_\_\_ Guarantee Fee (2% of loan amount)

7\) \_\_\_\_\_ Completed and signed Form 1980-19, Loan Closing Report

8\) \_\_\_\_\_ Completed Form 1980-11, "Lender Record Change" if loan is
sold