ADDITIONAL INFORMATION

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1 1006 Pittston Avenue, Scranton, PA * * Fax: HOME EQUITY CHECKLIST When applying for a Home Equity Loan from Spojnia Credit Union, please include the following when returning your application to help us process your application as quickly as possible. Completed application and non-refundable application fee made payable to Spojnia Credit Union for $ (Any and all names that appear on the deed to the home must be on the application.) A current copy of your driver s license or other government issued photo identification as required by the United States of America Patriot Act of Copy of current pay-stub or W-2 from previous year for applicant and/or co-borrower. Self employed will also require a copy of tax-return from previous year. A bank statement may be used to verify social security deposit, payroll deposit or other monthly income. Employment verification (if required) This form must be signed by employer and member, for both applicant and co-borrower. Certification and Disclosure Authorizations This form must be signed by both applicant and co-borrower. This form will release records to Spojnia Credit Union to verify information or obtain a payoff amount. Copy of deed to property All names on the deed must sign the loan application documents. Proof of insurance, paid real estate taxes and homeowners association fees if applicable. (Receipts required can be a copy of a cancelled check or receipt from tax collector.) ADDITIONAL INFORMATION Background review by Spojnia Credit Union includes: a. Request for appraisal, property search, verification of income, credit and flood insurance reports. b. Employment verification (if required) Review includes a credit analysis to determine the member/borrower(s) debt ratio using liabilities and monthly gross income. Four Terms Available. Contact the credit union for current rates: a. 5 (five) year b. 7 (seven) year c. 10 (ten) year d. 15 (fifteen) year

2 Spojnia Credit Union will only accept first and second mortgage position. Spojnia Credit Union will loan 85% of the appraised value less any first mortgage. Spojnia Credit Union Home Equity Loan is a fixed rate loan. The loan may be used for any purpose. The rate is set quarterly. The rate you receive at closing remains in effect for the life of the loan. The member/borrower may repay the loan prior to maturity, in whole or in part, without penalty. Loans are secured by a mortgage on real estate which is the principal residence of the member/borrower and a 1 4 unit dwelling. If out of the area, paperwork will be sent overnight. The documents must be reviewed, signed and returned to the credit union. Checks will not be released until all paperwork is received. NO EXCEPTIONS!!! An additional notary fee may be incurred when signing the mortgage instrument. Proof of homeowner s insurance coverage must be provided in an amount at least equal to the total of all priority liens against the property. Spojnia Credit Union must be named as loss payee on the policy. If a property search designates the property in a flood plain area, proof of flood insurance coverage must be provided. A late charge of 5.00% of the monthly loan payment will be imposed after the loan is thirty (30) days delinquent not to exceed $ The share balance in your account must be $ $5.00 is your membership share; the remaining $ is the pledge against your loan. Spojnia Credit Union will review Subordination Agreement requests. Spojnia Credit Union will not agree to subordinate if its lien position will deteriorate. Spojnia Credit Union (NMLS ID: ) is registered with the Nationwide Mortgage Licensing System & Registry (NMLS) as required by the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). The following persons associated with Spojnia Credit Union are registered and may be involved in the processing and approval of your home equity loan: Mary Lou Crispino (NMLS ID: ) Deborah A.Migliori (NMLS ID: ) Karen J. Rieder (NMLS ID: ) Marilyn J. Donahue (NMLS ID: ) Please access: for additional information and verification.

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