Loan Pricing Disclosure
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Borrower(s) _______________________________________________________________     Date _________________________
Property Address __________________________________________________________     EMC Product # ________________
City ___________________________ State ________________   Zip _____________     Mortgage Type ________________
Total Points to Borrower __________________________________   Dollar Amount of Points _____________________________
Loan Amount __________________________________________    

I HAVE CHOSEN TO "LOCK" MY INTEREST RATE AT: ____________%    Borrowers:     EMC: 

Lock-in Expiration Date ______________________     ( _____calendar days from Application Date.) Equitable Mortgage Corporation will utilize its best efforts to attempt to have your mortgage loan application processed, approved and closed on or prior to ______________. However, certain elements of the process are out of the control of Equitable Mortgage Corporation, such as time involved in securing an acceptable appraisal from a bonafide fee appraiser or obtaining various written credit confirmations from an approved credit reporting agency. Equitable Mortgage Corporation will not be responsible for delays in loan approval and closing resulting from lack of timely receipt of an acceptable appraisal or credit report, your inability to sell your existing home, nor for any additional delays resulting from the conclusions of such reports, (such as the need to perform required repairs prior to closing as specified by the appraiser or to re-confirm details of your credit history due to information uncovered in the credit reporting process), nor for any other matters beyond Equitable Mortgage Corporation's reasonable control.

YOU SHOULD BE AWARE THAT IF YOU CHOOSE TO "LOCK-IN" YOUR RATE, IT IS VERY POSSIBLE THAT AT ANY TIME BEFORE YOUR LOAN CLOSES, INCLUDING ON THE DAY YOUR LOAN CLOSES, THE MORTGAGE RATE WHICH WE ARE QUOTING TO BORROWERS INQUIRING ABOUT OUR CURRENT MORTGAGE RATE MAY BE LOWER THAN THE MORTGAGE RATE WHICH YOU HAVE "LOCKED-IN." YOU WILL BE REQUIRED TO CLOSE AT THE HIGHER "LOCKED-IN" RATE.

YOU SHOULD ALSO BE AWARE THAT IF YOUR "LOCK-IN" EXPIRES PRIOR TO THE CLOSING OF YOUR LOAN, YOU WILL BE REQUIRED TO CLOSE AT THE HIGHER OF YOUR "LOCKED-IN" RATE OR OUR CURRENT MARKET RATE.

I HAVE CHOSEN TO "FLOAT" MY INTEREST RATE.    Borrowers:     EMC: 

This means that you will receive the Equitable Mortgage Corporation interest rate in effect at the time you choose to "Lock-in" interest rate. If you do not "Lock-in" your interest rate more than (10) business days prior to your closing, Equitable Mortgage Corporation will "Lock-in" your rate at the Equitable Mortgage Corporation rate in effect at any time within the ten (10) business day period prior to your closing.

YOU SHOULD BE AWARE THAT IF YOU CHOOSE TO ALLOW YOUR INTEREST RATE TO "FLOAT," IT IS VERY POSSIBLE THAT AT ANY TIME BEFORE YOUR LOAN CLOSES, INCLUDING ON THE DAY YOUR LOAN CLOSES, THE MORTGAGE RATE WHICH WE ARE QUOTING TO BORROWERS INQUIRING ABOUT OUR CURRENT MORTGAGE RATE MY BE LOWER OR HIGHER THAN YOUR RATE ON THE DATE OF CLOSING. THIS MAY BE DUE TO MORTGAGE UNDERWRITING ISSUES, AVAILABILITY OF FUNDS, COST OF FUNDS, VARIANCE OF INVESTOR RATES, AND OTHER MARKET CONDITIONS BEYOND EQUITABLE MORTGAGE CORPORATION'S REASONABLE CONTROL.

I HAVE DEPOSITED   $_______________   with Equitable Mortgage Corporation in the form of a check or money order payable to Equitable Mortgage Corporation or in the form of a credit card deposit. Equitable Mortgage Corporation will not be responsible for the refund of or credit for any deposits in the form of cash, or in the form of a check or money order payable to a party other than Equitable Mortgage Corporation. I understand that this deposit will not be refunded to me unless my loan application is formally declined by Equitable Mortgage Corporation. I also understand that if my loan application is declined, Equitable Mortgage Corporation will retain a minimum of $350.00 to cover their actual costs for the appraisal and credit report.

If my loan application is approved, I am fully aware that my deposit will not be refunded should I choose not to close this transaction with Equitable Mortgage Corporation for any reason. I am also fully aware that my deposit is non-refundable prior to any final underwriting decision on my loan.

Upon loan disbursement, Equitable Mortgage Corporation agrees to refund my deposit money or apply my deposit money toward either points, fees, interest, escrows, purchase price, or current loan balance. If my deposit was made via credit card, then I will receive a return of my deposit on my credit card account and cannot apply such deposit towards points, fees, interest, escrows, purchase price or current loan balance.

Please acknowledge your receipt and agreement with the terms as stated in this Loan Pricing Disclosure and retain the duplicate copy for your records.

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Borrower                                                                                      Date 		         
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Loan Officer
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Borrower                                                                                      Date 		          [ Click Here to Return to the List of Forms ]