SMARTERMORTGAGE PLAN

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We believe that you can achieve the dream of owning a home no matter your starting point.

For decades, we’ve helped thousands of people get on a path towards home ownership and we’ve noticed something. We’ve found that the right mortgage plan enables bigger dreams.

Bigger Dreams like debt-free homeownership.

Bigger Dreams like financial freedom.

We believe getting the right mortgage plan, a Smarter Mortgage Plan, gives you the best chance at success.

Owning a home doesn’t have to stay a dream — we’re helping people own homes and achieve success every day.

YOU DESERVE BETTER

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What Is a Smarter Mortgage Plan?A Smarter Mortgage Plan is designed to help you focus your homeownership goals, prepare loan documents, leverage our free tools, and follow a series of step-by-step reference guides.

These reference guides will help you be prepared as you begin the journey towards homeownership.

1 Choose Your Home Loan Specialist 2 Collect Your Documents 3 Build A Budget 4 Explore Home Loan Options 5 Get Pre-Approved 6 Build Your House Hunting Checklist 7 Select Your Realtor 8 Shop for Your Home

This guide is a blueprint and a toolkit to help you in building your own Smarter Mortgage Plan. In building your own mortgage plan, you’re preparing and empowering yourself to make smarter decisions throughout the process.

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LETS GET STARTED!

Step 1: Choose your Home Loan SpecialistIt’s exciting to think about owning your own home. That excitement can cause you to rush through the process, sometimes making decisions and commitments before you fully understand the implications of your choices.

A Home Loan Specialist is an expert in the home loan process and will use their experience and knowledge to help you build the right plan. They will map out scenarios quickly and help set realistic expectations. They will educate you on potential obstacles and keep you clear of getting sidetracked.

Most importantly, they will help you find paths you didn’t know were available. Paths that allow you to dream bigger. When selecting a Home Loan Specialist, look for someone that isn’t just a loan o�icer, but a mentor.

A Mortgage Mentor.

The di�erence between a typical loan o�icer and a Churchill Home Loan Specialist is that we educate you through the process and then stay with you as a Mortgage Mentor. Since change is constant; including interest rates, home values, income status, and monthly expenses. It’s always good to know you have a Mortgage Mentor to consult, free of charge, even a�er your loan is completed. A Mortgage Mentor can help you stay on the smartest homeownership path throughout your lifetime.

GET STARTED TODAY! CALL 888.562.6200 OR VISIT WWW.CHURCHILLMORTGAGE.COM

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Step 2: Collect your DocumentsAs you begin, you’ll need to gather important documents that are commonly requested throughout the home loan process.

Document ChecklistWe have created a checklist you can reference to make sure you have everything you need ready. These materials will be requested by your Home Loan Specialist, processor and underwriter at the appropriate time.

Important Tips to Consider

Use our Document Checklist as a guide to gather important documents

Ask your Mortgage Mentor for any specific documents you may need based on your unique situation

Store all documents in one folder or location

Ask where and how you will submit your documents for review

Make and send copies if physical documents are required, keep all of your originals

Confirm that documents have been received – you don’t want to delay a closing on a missed email or fax

Be sure to use secure methods when transmitting any files with private information

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The following documents will be needed for loan approval. We recommend you begin assembling these documents.You are not required to provide any documentation prior to receiving a Loan Estimate.

Document Checklist

Identification Assets

Income

Miscellaneous

Driver's license(s): Scanned copies are best as resolution can be reduced in a photo copy/fax.

Social security card(s)

If you are not a US citizen, a copy of the front and back of your green card(s). Scanned copies are better as a photo can get lost in a photo copy/fax.

Last 2 months of bank statements. These must include all pages of the statement(s) even if the last page is blank. Internet copies are acceptable as long as they contain the bank name, account number, your name and 60 days history. Statements with redacted information are not acceptable.

Last quarterly statement for all other asset accounts. This will include 401(k), IRA, stock accounts, and mutual funds. Must include all pages of statement even if last page is blank.

Your paystub(s) covering the last 30 con- secutive days (must include a year-to-date income).

W-2 Forms for the last 2 years

Award letter for any social security and/or disability income. Should show income to continue for the next 3 years.

Retirement award letters. Should show income to continue for the next 3 years.

Last 2 years personal federal income tax returns with all pages and all schedules. These must be signed and dated.

Last 2 years business federal income tax returns with all pages and all schedules. These must be signed and dated.

If you are self-employed, please provide a copy of any applicable licenses for your business.

If you own other real property, provide hazard insurance declarations page, property tax statements, leases, and a copy of the current mortgage statements on all properties.

If applicable, a signed copy of your complete divorce decree.

If you receive child support, alimony or separate maintenance and wish this to be considered as income, provide proof of receipt for the last 12 months.

If you have a previous bankruptcy, a copy of the discharge or dismissal paperwork.

When you do find your home, fully executed sales contract completed by all parties (Realtors®, sellers, and buyers) with all signed addendums (any required documentation per said addendums)

Proof earnest money deposit has cleared your bank. A picture of the cleared check (front and back) should be available through your bank's online access.

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Step 3: Build a BudgetBuilding a budget is an important step. It helps you answer the question:

Establish Your Monthly BudgetA budget is a plan dealing with two things: income and spending. It will be your financial road map. Since spending and income rarely stay the same year round, you will want to make a new budget each month or spread seasonal expenses over the entire year.

We recommend using tools like Dave Ramsey’s EveryDollar App to start building a budget and tracking income and expenses. You can also do this the old-fashioned way with pencil and paper, but these tools allow you to easily compare month-to-month and get a better view of your finances.

For a basic budget… 1. List all of your income. Make sure to use your take home pay and include money from any part-time or seasonal jobs.

2. Jot down expenses. Categorize each expense (such as utilities, debts, savings, etc.), to get an in-depth look at your monthly expenses.

3. If you finish your budget and have money le� over, use it to pay o� debt or move it to savings.

4. Make sure everything equals zero. The idea is to track all of your spending and saving so every dollar is doing what you tell it to do.

“HOW MUCH CAN I AFFORD?”

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Take it for a spin - Set up a trial runBuying a home is one of the largest investments you will ever make. Consequently, it’s important to make sure your mortgage payments leave you with enough money to enjoy your life and your home. Set up a budget ahead of time and live as though you’re already paying the mortgage amount – this will help you determine if your budget is comfortable for your life – so your new home is a blessing and not a burden.

DAVE RAMSEY’S IDEAL MONTHLY PAYMENT

INDUSTRY STANDARD MONTHLY PAYMENT

25% Net Monthly Income

28% Gross Monthly Income

Net Income - Income a�er taxes, deduction and contributions. This is your take home pay.

Gross Income - Total income before taxes, deductions and contributions.

Your Home Purchase BudgetYou’ve got your monthly financial game plan set. Now it’s time to start thinking about how much you can a�ord when purchasing a home.

Building a budget now sets you up for success by avoiding situations where you try to make your finances fit your dream home, instead of finding a home that fits your budget.

Consider these numbers when building your budget:

Ideal Monthly Payment Consider what you could comfortably pay each month. Don’t forget to consider taxes, insurance and other fees. Will you have room in your budget to put money into savings or make extra payments? This number determines what’s ideal for your situation, not the largest payment you can fit in your budget.

Ideal Loan Amount With our Total Cost Analysis tool (see page 12), you can use your ideal monthly payment to inform your target loan amount, which will be important when you start shopping for your home. We’ll go over the Total Cost Analysis in more detail later.

Down Payment Evaluate how much you have in savings, and how much you want to put towards a down payment.

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Keep In Mind: FeesA monthly mortgage payment typically includes principal, interest, taxes, insurance, and possibly home owners association fees and mortgage insurance. You will want to speak with your real estate agent and mortgage lender to make sure you know what to expect.

Down PaymentEstablish and save a concrete amount for your down payment in advance.

Dave Ramsey recommends putting a 20% down payment (or more) on your mortgage. This sets the strongest foundation for paying o� your loan as quickly as possible.

Depending on which home loan product you use, lenders can require up to 20% or more as a down payment. It is best to consult your Mortgage Mentor to determine your optimal percentage.

Your Mortgage Mentor can then provide you with a target loan amount based on your monthly budget, down payment, income, and debts.

For more guidance, speak to your Home Loan Specialist and leverage our recommended, free budgeting tools.

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Step 4: Explore Home Loan OptionsEveryone’s life and financial situations are di�erent, and mortgages are not one size fits all. Getting the right loan for you is an important part of building a Smarter Mortgage Plan. There are a few choices that will play a key role in your home loan.

✓ Amount borrowed✓ Loan Term✓ Interest Rate✓ Down Payment✓ Loan Program

There are many options to choose from when considering your home loan. Talk with your Home Loan Specialist to compare your options and select the best home loan for your situation.

As you explore loan programs, don’t forget to utilize your ideal monthly payment and down payment found in the budget section. Using these numbers can provide a more concrete idea of how each loan program will work for you.

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Loan term is the length of your loan, or how long you have to repay the loan. The most commonly used loan terms are 15, or 30 years*. Additional loan term options are available. Choosing a longer or shorter loan term will a�ect your monthly payment, interest rate and the amount of interest you pay over the life of the loan.

In general, we can assume some things about loan term:Shorter terms have higher monthly payments, but lower interest rates and lower total cost

Longer terms have lower monthly payments, but higher interest rates and higher total cost

While it depends on your situation, a 15 year term is generally an ideal loan term. The lower interest rates and lower total cost mean a faster path to debt-free homeownership.

Loan term is just one option to consider in building your Smarter Mortgage Plan!Let’s talk about…

Interest Rates are the amount you pay to borrow the money to finance your home. The rate that you pay is compounded on your borrowed amount. The rate of interest you pay depends on a wide range of things, including the term of the loan, rates set by the market, and a wide variety of other economic factors. Because interest rates can fluctuate so rapidly, it’s best to speak with your Home Loan Specialist for up-to-date information.

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LOAN TERM

INTEREST RATES

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*For a 15 year conventional loan, a $200,000 mortgage loan with a rate of 4.25% (APR 4.415%) and a 20% down payment ($50,000) on purchase price of $250,000 with no points, would have a monthly payment of $1,504.56 (principal & interest).

For a 30 year conventional loan, a $200,000 mortgage loan with a rate of 4.375% (APR 4.466%) and a 20% down payment ($50,000) on purchase price of $250,000 with no points, would have a monthly payment of $998.57(principal & interest).

The above rate quote has the following assumptions: credit score above 740; property is SFR; borrower has su�icient income to qualify; Estimated closing costs a�ecting the APR include $1,056 for Underwriting and Processing Fees, $125 for other Lender Fees; $600 for Escrow Fees, and $400 for Prepaid Interest.

* Important Notices• The interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice.• The monthly payment amount shown includes principal, interest only. Your actual monthly payment will be higher if an escrow/impound account is established or required.• Your APR will vary based on your final loan amount and finance charges.• Stated rates and terms intended as examples only. Call (615) 370-8888 for current rates and terms.• Please consult with financial, tax, and legal advisers for any advice relating to your personal circumstances.

There are a wide variety of loan programs available. The loan program you choose will be determined by several factors; including down payment, loan amount and location. The most common options are Conventional, FHA, VA, and USDA loans. Each loan program is designed for di�erent situations; it is important to find the option that works best for your unique situation.

Conventional LoansThis is the most common loan option and meets the needs of most people. Due to lack of government backing, conventional loans do require better credit scores, but the cost can be lower than most comparable government-backed loans. FHAThese loans are backed by the Federal Housing Administration and typically have a lower down payment requirement and credit score threshold.

VAThis program is an earned benefit o�ered to all active duty and retired military personnel. It has highly competitive pricing, no monthly mortgage insurance and no down payment required.

USDAThis loan program o�ers 30 year fixed-rate financing guaranteed through USDA-Rural Development. It provides mortgages for homes located in eligible rural areas across the country with no down payment required, flexible credit standards and no up front mortgage insurance.

While this is an overview of the four most common types of loans, there are additional options that may fit your unique situation better. Talk to your Home Loan Specialist for more information.

LOAN PROGRAM

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APR (Annual Percentage Rate) can be a useful tool to compare two lenders, apples-to-apples, that are o�ering the same rate and monthly payments but di�erent fees and costs. Like an interest rate, the APR is expressed as a percentage. Unlike an interest rate, however, it also includes other charges or fees (like mortgage insurance or most closing costs) to reflect the total cost of the loan. As a result, an APR tends to be higher than a loan's interest rate.

APR

Total Cost Analysis by Mortgage Coach

Once you have wrapped your head around the parts of a home loan, it’s time to play with some numbers and get a loan comparison. Luckily, Churchill can set you up with a Total Cost Analysis.

This analysis provides you with detailed and easy-to-understand cost breakdowns built with your budget in mind. It allows you to directly compare di�erent loan programs and select the right loan option for your situation. Best of all, it is completely free through Churchill!

With Total Cost Analysis, you’ll get: Easy-to-understand loan comparisons and options A clear illustration of how to become mortgage-free over timeA cost breakdown, so you know exactly what is expected at the closing table At-a-glance APR, interest rates and monthly payments Real-time changes. Your Home Loan Specialist can make adjustments as you’re discussing the details allowing you to view your options instantly.

To get your Total Cost Analysis today, talk with your Home Loan Specialist, or visit us online: https://www.churchillmortgage.com/Total-Cost-Analysis

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Step 5: Become a Churchill Certified HomebuyerMost buyers only go through the process of being pre-qualified for a mortgage. This takes the least amount of time but is also the least reliable. And unfortunately, a standard pre-approval can provide a false sense of security that just isn’t good enough anymore. Smart buyers go one step further and become a Churchill Certified Homebuyer.

Level 1: Pre-Qualification—this will give you a rough idea of how much home you can really a�ord.Level 2: Pre-Approval—this option takes a little more time than a pre-qualification because you submit financial documents to your lender for review.Level 3: Churchill Certified Homebuyer—this is your best option. You’re positioned almost as if you’re a cash buyer, moving you to the front of the line when competition is high. With the housing inventory remaining low, there’s simply no better way to guarantee that you’re taking the right steps to help you get to the closing table faster.

If you’re interested in becoming a Churchill Certified Homebuyer as part of your Smarter Mortgage Plan, talk to your Home Loan Specialist.

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Step 6: Build Your House Hunting ChecklistWe recommend making a checklist of all your required and ‘nice to have’ features before you begin searching for a home. We have created a checklist you can reference as you consider everything you want in your home. You can print and use the checklist when you visit a home and you can use MyNest as a digital journal. Ask your Churchill Home Loan Specialist on how to download this great mobile app.

While you’re searching, keep your checklist handy. It can help narrow down your choices and ensure that you end up with a home that fits your needs and lifestyle.

Searching for a home is o�en a journey, but one that is ultimately very rewarding! Don't be discouraged if you don't find the right home on the first day. Home shopping is a process, especially if it’s a competitive market. Remember that love at first sight can apply to homes, too. Be sure to look at many di�erent options before you commit.

House Hunting ChecklistWe have created a checklist you can use to track the pros and cons of each property you visit.

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Quick Tip!Look at some model homes. They can help you pinpoint things you didn’t know existed but would like to have in your own home.

Home Hunting ChecklistUse this sheet to track details about each property you visit.

NeighborhoodGeneralHouse AddressAsking PriceAge of HouseHouse StyleNumber of BedroomsNumber of BathroomsSquare FootageSize of GarageLot SizeProperty Tax RateStorage SpaceRoom for ExpansionNoise Pollution Sound InsulationMajor repairs or renovations? Warranties?

BasementAtticAppliances IncludedPrivacyDate Roof InstalledDate HVAC installed

NeighborhoodAttractiveQuietCleanUrban vs RuralTrees

Grocery StoresMailSuperStoresGas StationRestaurantsOther

SchoolsElementaryMiddle SchoolHigh SchoolDisctrict

Other FacilitiesHospitalPoliceFire StationLibraryParksBanksHow long is the commute?Major highways

UtilitiesElectric/GasWaterGarbage / Cable / Internet / Other

TRY USING THE MYNEST APP TO TRACK DETAILS ABOUT EACH PROPERTY!

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Step 7: Select Your Realtor®

Your Real Estate Agent Now that you’re pre-approved, the fun can begin! Buying a home requires teamwork—and your real estate agent is a key player. From making a wish list to scouting out homes, your agent is working hard to help you find a home you’ll enjoy.

Normally, it is best to select a Realtor that has been referred to you by a trusted source. Working with one person that fits your personality and listens to your needs will help assure positive results. You also want a Realtor that has experience in your neighborhoods of interest, and can tell you about the value or future marketability of the home and area you are interested in.

An experienced, well-qualified real estate agent plays a crucial role in getting your ideal home. More than showing homes, your agent is your representative and negotiator when you find that perfect home. When other buyers are interested in a property, a strong negotiator on your team can give you the additional competitive edge you need for the house you love.

If you’re looking for a real estate agent who complements your home search objectives, let us know. We have access to some amazing Realtors, many of whom are recommended by Dave Ramsey as well. We’d love to introduce you!

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Step 8: Shop For Your HomeYou have spent your time building your Smarter Mortgage Plan, now it’s time to start using it.

When you head out to look for a home, there are many factors to consider in the houses you view. Equipped with your Smarter Mortgage Plan and house hunting checklist, you are ready to start shopping!

Information you’ll use from your Smarter Mortgage Plan:• Ideal Monthly Payment• Ideal Loan Amount• Pre-Approved Loan Amount• Real Estate Agent• House Hunting Checklist

You have the best plan, now it’s time to use the best tools.

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HomeScout® AppNot all home search apps are created equal.

When you’re searching for homes online, do you ever wonder if you are seeing all available listings in your area? Don’t miss out on your dream home because you don’t have all of the information. With up-to-date listings and secure profiles, HomeScout provides you with free access to the best information and your personal data won’t be sold to third parties.

With this mobile app, you can: • Search and view MLS listings for sale and recently sold• View details of every property right from the curb• Save and track your favorite properties• Get notified when a price drops or new photos are added• View detailed school information• Contact your mortgage lender or real estate agent with any questions

You can access this app by visiting https://www.churchillmortgage.com/HomeScouting Use the VIP Code: Churchill

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MyNest App

During the home search process, you are going to look at a lot of di�erent homes. A�er viewing a few properties, their features, elements and colors will start to run together. MyNest helps you collect, store, index, and share video, pictures, notes, and other details of the homes you tour. In other words, it’s assembling information in a smarter way, which leads to smarter decisions!

MyNest is a home buying photo journal. It helps you capture and organize details for the homes you visit. You can engage with your Home Loan Specialist directly within the app for mortgage advice. Plus, you can rate and review the homes, so later you can share the info with your friends and loved ones.

From the moment you first walk through your dream home to getting the keys, MyNest helps you make the decisions that are right for you!

You can find MyNest in the Apple App store or on Google Play. Get your access code from your Home Loan Specialist.

AVAILABLE ON THE APP STORE AND GOOGLE PLAY

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Home Shopping TipsThere are some additional things you can do to make the home shopping process more enjoyable:

Bigger isn’t always better.

Don’t commit based on emotion or instict. If you buy a house based on emotion, you may end up with buyer’s remorse.

Don’t Settle. You might absolutely love the first house you view. Be sure to view multiple homes before you make a decision.

Check out the neighborhood. Before you buy in an area, make sure the neighborhood fits your needs. Review the neighborhood section in your house hunting checklist.

Making an O�er and ContractsReal estate markets vary drastically by location, so it is important to have a trusted advisor by your side throughout the process. Your Realtor will be able to advise you on market conditions in your area and other factors of your dream home. Be sure to consult with him or her as you prepare to place an o�er on your new home.

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CONGRATS! YOU’VE BUILT YOUR SMARTER MORTGAGE PLAN!

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EveryDollarBudget from your computer, iPhone or Android device with Dave Ramsey’s free budget tool helping people knock out debt, build wealth, and start living. Create unlimited budgets, track transactions and get a free trial of EveryDollar Plus.

Total Cost AnalysisThis tailored loan program comparison and cost breakdown analysis by Mortgage Coach o�ers easy to understand options, clear illustration of how fast you can become mortgage-free and at-a-glance APR, rates and payments with real-time updates.

HomeScout AppThis is the most accurate search engine for online home shopping. It’s loaded with data historically held by the agent and empowers the home shopper access to all marketed homes in a mobile app.

Ready To Buy WorkshopThis 6 step educational workshop designed to aide both repeat and first time homebuyers on the process of buying a home. Budget l Approval l Partners l Searching/Shopping l Executing l Closing

Mortgage CalculatorsThese calculators help determine how much to add to your monthly payment to reduce the interest and shorten the term of your mortgage.

MyNest AppThe home shopping digital journal that organizes all properties you visit with photos, voice and video. Loan program comparison and cost breakdown analysis request tool built in the app to ensure transparency with mortgage options.

Pre-ApprovalShopping for a home loan without a pre-approval letter is like walking into a grocery store without a wallet. A Pre-Approval verifies your information and documentation to determine how much of a home you can buy.

Sold Home Alert®

Stay current on neighborhood home values with this monthly custom neighborhood sold property alert, delivered to and built for homeshoppers and homeowners in a searchable database that includes value assessments, property remarks and virtual tours.

Annual Mortgage ReviewA financial checkup review conducted with your Home Loan Specialist to annually compare your mortgage to the current rate and options identifying either money saving or term reducing options.

www.ChurchillMortgage.comGet Access to All of These Tools & More at

Smarter Mortgage Plan Toolkit

HomeScout

MASTER THE MORTGAGE PROCESSYou’ve built your Smarter Mortgage Plan, shopped around, found a home and made an o�er. Congratulations! It’s time to finalize your mortgage and make that house your new home!

The home loan process can be broken out into 4 main phases: Part 1: ConsultationPart 2: Processing Part 3: UnderwritingPart 4: Closing

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YOU WILL NEED TO BE INVOLVED IN EACH STEP,SO LET’S WALK THROUGH WHAT YOU CAN EXPECT.

Part 1: ConsultationGreat News! If you followed the steps in building your Smarter Mortgage Plan, you will have already completed the majority of this phase.

The consultation phase of the loan process is where you will submit an application, get a loan estimate and give intent to proceed with your mortgage loan. The first step is to submit a loan application. We recommend doing this before you start shopping for a home.

Next up is the fun part! Once you find a home and can provide an address to your Home Loan Specialist, they will complete the application and provide you with an o�icial Loan Estimate within 3 business days.

At this point, your loan is passed on to the processor, who will start to gather the documents needed.

What is a Loan Estimate? Loan Estimate provides you with important details about your loan, including the estimated interest rate, estimated taxes and insurance cost, monthly payment, and total closing costs. By talking through the Total Cost Analysis you have likely spent time comparing the di�erent options already.

When you receive a Loan Estimate, the lender has not yet approved or denied your loan application, it is simply an estimate of the loan details.

Quick Tip: Lock Your Rate!Due to fluctuations in the market, there is no guarantee that the rate you are quoted will be available at the time you are ready to lock your interest rate. Locking your loan simply means securing the interest rate you want for a specific amount of time. To “lock your rate”, simply contact your Home Loan Specialist.

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Part 2: ProcessingOnce the loan application is received and you give the intent to proceed, the loan is processed. The processor collects all required documents, including all asset, property and credit information. Once gathered, your processor will submit the loan file to the underwriter.

During this phase of the mortgage process it will be vitally important to have all of your documents prepared and on-hand (refer back to the document checklist). You will also need to arrange for a number of third-party services; required inspections and services can vary depending on property location and loan program. Consult with your Home Loan Specialist and real estate agent to find out which ones you will need.

Here is a list of some of the third-party services you or your agent may need to arrange:

Home Inspections - A home inspection will determine if there are any problems or issues with the property. These are not always required, but highly reccomended and should be conducted by a Licensed Real Estate Inspector.

Homeowner’s Insurance (also referred to as Hazard Insurance) - This is required insurance. It is best to have this done at least 2-3 weeks prior to your closing to give the insurance company plenty of time to put a quote together.

Appraisal - The appraisal is a required assessment of every mortgage that provides you and your lender with a fair value of the property. Appraisals are conducted by a licensed third-party professional.

Termite & Pest Inspections - Have a licensed Pest Inspector check the home for termites and provide written reports upon inspection completion.

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Part 3: UnderwritingThe underwriter’s job is to review and validate the documents collected during processing to ensure the loan satisfies the requirements of the selected mortgage program. Once all conditions are met and satisfied, the underwriter issues the loan approval or clear to close.

Now that you are in the process of finalizing your home loan, it is important to not make any major changes that may a�ect the status of your loan. Here are some examples of things to avoid:

Opening new lines of credit or bank accountsMaking big purchases, such as furniture or appliances Transferring large sums of moneyChanging employment statusNot keeping up with your monthly bills and credit card payments

It’s common for the underwriter to request additional information. It’s their job to be thorough, and to verify the information provided is correct. This is both to protect the lender, and to protect you. Having your documents ready and staying in contact with your Home Loan Specialist and underwriter will make this process go as smoothly as possible.

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Quick Tip: Time is Key! When asked for documentation, it is important to provide it to your lender in a timely fashion. 24 hours in most cases.

Part 4: ClosingClosing is the final step in your journey to becoming a homeowner. A�er your Clear to Close is issued, your lender will begin to dra� Closing Disclosures and Loan Documents.

It is legally required that you receive and sign Closing Disclosures 3 business days prior to your closing date. Be sure to factor in this requirement when scheduling your closing date. If the Closing Disclosure is not signed before the 3 day window, you will need to move your closing date to accomodate this time frame.

At this point, a finalized breakdown of closing costs and fees will be provided. Closing costs and fees cannot be paid with cash. You will need to bring a cashier’s check or proof of wire transfer for the exact amount of money you need to close. Be sure to check with your Home Loan Specialist or Title Company to confirm the best way to pay costs.

Closing usually takes place in an escrow, title or attorney’s o�ice. If requested and allowable, a mobile notary may be provided for a fee. The following people typically attend the closing:

You and any co-borrowerBuyer’s Real Estate Agent Seller’s Real Estate Agent Closing Agent Escrow O�icerYour Home Loan Specialist

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What You Can Expect on Closing DayWhat do you need to bring?Ask your loan o�icer, as each closing can require additional items depending on your contracts, loan types and state laws.

Below is a list of items you’ll need:Cashier’s Check / Proof of Wire Transfer for the exact amount you need to closeDriver’s License or State-Issued ID

The documents in the mortgage process are not the same for everyone, so make sure you’ve gone over all the documents with your Home Loan Specialist or closing agent beforehand and ask all questions you need to feel comfortable. It’s okay to take your time doing this. There will be terminology that you likely haven’t encountered before and asking about these terms is normal.

What Happens on Closing Day

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Money - The closing agent will list all the money you owe the seller, such as remainder of down payment, prepaid taxes, etc. The closing agent will then list all the money the seller owes you, such as unpaid taxes or prepaid rent. This will be covered on the final Closing Disclosure.

Signing - Out come the pens. You will be asked to sign documents saying you agree to the terms of the loan and sign a note and security instrument. Then you will sign a number of a�idavits and declarations that legally bind you to the agreed upon financial obligations and your rights as a homeowner.

Transfer - The seller will then sign a deed and transfer ownership of the property to you. Once all the financial and legal contracts have been signed, the settlement agent will transfer money to the seller on your behalf.

Recording - A�er all of these things take place, the deed and security instrument are properly recorded.

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ONCE ALL THE LINES ARE SIGNED AND YOU’VE BEEN GIVEN THE KEYS, IT’S TIME TO MOVE IN!

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Company NMLS ID # 1591 (www.nmlsconsumeraccess.org); AL–20934; AK-AK1591; AR–32094; AZ-0926494; CA-413125, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, under Churchill Mortgage Corporation, which will do business in California as Churchill Mortgage Home Loans; CO–Mortgage Company Registration, Churchill Mortgage Corporation, 761 Old Hickory Blvd. Ste 400, Brentwood, TN 37027, Tel 888-562-6200, Regulated by the Division of Real Estate; CT-ML-1591; DC –MLB1591; FL–MLD1264; GA–23146; ID-MBL-8038; IL–MB.6760685, Illinois Residential Mortgage Licensee, Department of Financial and Professional Regulation; IN–10930 & 10931; IA–2009-0009; KS-MC.0025136, Kansas Licensed Mortgage Company; KY–MC19522; LA- Residential Mortgage Lending License; MD–18840; ME-Churchill Mortgage Corporation, Supervised Lender License NMLS # 1591; MI-FR0019014 & SR0014889; MO-15-2136-A, 2300 MAIN ST STE 900, Kansas City, MO 64108-2408; MN-MN-MO-1591; MS–1591; MT-1591; ND-MB103110; NE–2037; NH-Licensed by the New Hampshire Banking Department 21382-MBS; NJ-Licensed Mortgage Banker by the NJ Banking and Insurance Department; NM–03780; NC–L-144110; OH-MBMB.850178.000 & SM.501828.000; OK–MB002527 & ML002574; OR-ML-5134; PA-41761, Licensed by the PA Department of Banking and Securities under Churchill Mortgage Home Loans; RI-Rhode Island Licensed Lender; SC–MLS–1591; SD-ML.05137; TN–109305; TX– Mortgage Banker Branch Registration; VA–MC-5222, Churchill Mortgage Corporation of TN; VT-7009; WA–CL-1591; WV-ML-34919; WI-1591BA & 1591BR; WY - 2516; Tel 888-562-6200; 761 Old Hickory Blvd. Ste 400, Brentwood, TN 37027; All other states,

Churchill Mortgage Corporation

You’ve completed the mortgage process and are o�icially a homeowner!

Your Smarter Mortgage Plan doesn’t have to end here. Many continue to work towards paying o� their mortgage early. Believe it or not, debt-free homeownership is not out of reach if you stay focused on your goals and make extra payments on your mortgage! Our Additional Payments Calculator will help you understand just how big of a di�erence a few extra payments can make.

As your Mortgage Mentor, we are committed to working with you throughout the life of your loan. Spend time discussing your needs and homeownership goals with your Home Loan Specialist each year during our Annual Mortgage Review. This tool will allow you to stay educated about your options for the life of your loan.

What’s le� to do? Enjoy your house. We wish you joy and priceless memories in your new home.

Congratulations!