Short Credit Application

Short credit application- Know more about it

A credit application is basically an application for a loan. However to be more specific a Short Credit Application is an appeal or request for credit extension which can be orally, but mostly in written form. The appeal has to follow the borrower’s extension request procedure so as to be a valid case. The application must have all relevant information which relates to the cost of the credit, which includes the APY’s or the annual percentages yield and any related fees.

Points to be covered in the Application –

A proper credit application has to have specific details as follows –

1. It can be in an individual name or in joint names. Accordingly the names and personal details of the applicants are mentioned.
2. It should provide the amount of credit and even the type of credit that is requested.
3. The application should provide the list of assets too.
4. It should also provide the obligation or debit status of each applicant in detail. In other words their credit score and report has to be clearly stated. If it involves a married couple, then any divorce or alimony details are given too.
5. If a security is provided for the loan, those details are to be mentioned.

Having said all the above, the application varies depending on the type of credit or loan taken. For example, a Car dealer Credit Application would be much simpler and may not demand so many details. However, a bank on the other hand will require all the above details.

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Sample Template Preview

YouBuyHouse.com
1225 W Main St, Ste 101-152, Mesa AZ 85201
Voice: 480-233-9367         Fax: 480-733-8298

EACH APPLICANT MUST COMPLETE A SEPARATE APPLICATION

PLEASE PRINT – ALL information must be completed.

Address you are applying for: _____________________________________________________

Date of desired occupancy: _________________________________________________

Would you like to take advantage of our owner financing or lease purchase programs? ___________________

How much of a down payment can you raise? ____________________________

What monthly budget are you trying to work within for your house payment? ___________________________

Is your credit, good, fair, or ugly? ____________________

YOUR PERSONAL INFORMATION

Full Name ________________________________________    E-Mail address:_____________________________________________
Phone (_______)___________________       Work Phone ( _______)_______________    Cell Phone (______) _________________
Social Security Number ________-_____-_________ Driver’s License #_______________________________   State: ______________
Present Address __________________________________________________________________________________________________
City ___________________________________________________    State: ____________  Zip: _________________________________
How Long? __________  If renting, Apartment name/location ______________________________Current Payment: $ _____________
Landlord/mgr’s name _______________________________________________________________  Phone:  (_____)__________________

Employer #1: _____________________________________ Position: ________________________ How Long? _________
Address _________________________ Phone: (___)________Gross Monthly Income before deductions: $_____________

I declare that the application is complete, true and correct and I herewith give my  permission for anyone contacted to release the credit or personal information of the undersigned applicant to Management or their authorized agents, at any time, for the purposes of entering into and continuing to offer or collect on any agreement and/or credit extended.  I further authorize Management or their Authorized Agents to verify the application information including but not limited to obtaining criminal records,  contacting creditors, present or former landlords, employers and personal references, whether listed or not, at the time of the application and at any time in the future, with regard to any agreement entered into with Management.  Any false information will constitute grounds for rejection of this application, or Management may at any time immediately terminate any agreement entered into in reliance upon misinformation given on the application.

____________________________________________            ______________
Applicant                                    Date