**[MINNESOTA RURAL DEVELOPMENT GUARANTEED LOAN CHECKLIST --
2/28/07]{.underline}**

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

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

**MAIL CONDITIONAL COMMITMENT TO**:

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

Form 1980-86, 1003 and first page of purchase agreement needs to faxed
to RD once you have a viable applicant.

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

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

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

4)  CAIVRS numbers. Applicant \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
    Co-applicant\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

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
    \_\_\_\_\_ RD Thermal Report

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

14) \_\_\_\_\_ Appraisal by non-FHA Roster appraiser \_\_\_\_\_ RD
    Thermal Report \_\_\_\_\_ completed home inspection report

15) \_\_\_\_\_ New construction: 3 inspections required per RD 1980.341
    or certificate of occupancy. Also refer to RD AN #4221. 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}**

**ADDRESS TO SEND LOAN NOTE GUARANTEE TO**:

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