1. NASB Loan Application. (consumer application)
2. Non-Refundable Appraisal fee, actual cost for 1-4 Unit Residential Property with Rent Comps.
3. Current Investment Account statements for IRA funds, sufficient to verify funds for closing and reserve requirement.  Fund statement should be no more than 30 days old.
4. Real Estate Contract executed by Account holder or IRA Custodian or administrator.
5. Broker Fee Disclosure between IRA account holder (borrower) and Broker.  Submit a copy of the Broker Fee Disclosure to NASB and the original to the title company or escrow agent to ensure payment of your fee.  Broker is responsible for compliance with all applicable state and federal laws.
6. Provide initial copy of Brokers State Mortgage Brokers License.
7. For Multi-family and Commercial purchases, a non-refundable commitment fee of 1% of the loan amount will be collected at the time of any issuance of a commitment letter outlining the loan terms and conditions.  The account holder (borrower) will be given a written commitment letter with the loan terms.  For 1-4 Unit investment, the non-refundable appraisal fee will be the actual cost of the appraisal charged by the appraiser.  The appraisal fee will be returned to the account holder after closing.  The appraisal fee will be collected at closing and included in the funds required from the IRA.
8. Down payment, appraisal fee and closing costs will be funded from the IRA.  The account holder (borrower) should be prepared to provide enough funding from IRA funds to cover the minimum NASB down payment, closing costs and reserve requirements.
9. NASB will complete the processing, order the real estate appraisal, underwrite the loan and coordinate the closing between the account holder (borrower) and the title company/escrow agent.

NASB will quote interest rates on a case by case basis, on the basis of the collateral type and down payment.  The following fees and costs apply:

1. _____% Origination fee to NASB (based on the loan amount)
2. $385 Underwriting fee to NASB
3. $200 Processing fee to NASB
4. $16 Flood Certification fee
5. $500 Appraisal fee (including rent Comps) – Due at time of application
6. $_____Settlement/Escrow fee
7. $_____Title Insurance
8. $_____Recording fees
9. $_____Mortgage Registration or other state fees (if applicable)
10. $_____Prepaid Interest and taxes*
11. $_____Initial Hazard Insurance Premium*