a. LOAN APPLICATION (Signed and dated by borrower, any co-borrower and the Mortgage Lender).

b. CREDIT REPORT (Standard report from a credit reporting bureau or merged-in file with three repositories).

c. OFFER & ACCEPTANCE (Signed and dated by borrower(s), Seller(s) and all real estate persons involved with the transaction).

d. CONSTRUCTION/HOME BUILDER CONTRACT (Signed and dated by the borrower and his or her homebuilder).

e. ITEMIZED ACQUISITION COST BREAKDOWN/WITH MATERIAL AND LABOR LIST (If Eligible Borrower is building his or her own house).

f. CONTRACTOR BIDS (For FHA 203(k) Loans, copies of signed contractor bids to rehabilitate property. If unavailable at time of Mortgage Loan application, ADFA will accept signed letter from Mortgage Lender stating approximate cost of rehabilitation).

The $100 reservation fee is no longer required.

The loan reservation system is open from 7:00 a.m. to 10:00 p.m., Monday through Friday, except for State-observed holidays.

At time of reservation, you will be assigned a loan tracking number. This is very important. Put the tracking number on all documentation throughout your file. Refer to it every time you send us a fax, a letter or other documentation. If you don't, we won't be able to respond in a prompt manner because we will be conducting computer searches to identify the file and its underwriter. If you are utilizing our downpayment assistance program (described below), you will also reserve those funds at this point.

Keep in mind that you have thirty (30) days to review the Mortgage File, assemble the ADFA package and send it to us. WE ARE NOT OBLIGATED TO HONOR THE RESERVATION AFTER THE THIRTY (30) DAYS HAVE EXPIRED.

Note: At the time the reservation is made the Loan Rate is LOCKED regardless of future rate changes.

Please keep in mind that once you've received a tracking number, you're telling us you're pretty much ready to go with that specific Eligible Borrower and Mortgage Loan. We realize there might be an occasion to transfer either a given residence (property address) or a Mortgage Lender and we will consider these types of requests, but know that we will ask for a written explanation from the loan officer.

The $25.00 loan reservation fee can be paid be either the lender or the borrower. This $25.00 fee needs to be sent with the closing package that ADFA receives after the loan is closed.