HELP! Whose Assets Will Be Used?:
If there is no Co-Borrower and you are not relying on assets of a spouse or a property in a community property state to qualify for and repay the loan, leave both checkboxes blank.  If some or all of the above assets are to be considered, simply read the choices (below) and make a choice between the two statements on the form by checking the box next to the statement that is relevant to you.
 
Will be used "The income or assets of a person other than the "Borrower" (including the Borrowers spouse) will be used as a basis for loan qualification."  If you choose this statement, you are stating that the Co-Borrower's assets will be used and that the supporting information on the form will be entered and supporting documents will be provided to support the Co-Borrower's information as well as your own.
 
Will not be used "The income or assets of the Borrower's spouse will not be used as a basis for loan qualification."  This statement means that there is a Co-Borrower who's assets will not be used to qualify for the loan, but who's liabilities must be considered because (A) the Borrower lives in a community property state, or (B) the security property is located in a community property state, or (C) the borrower is relying on other property located in a community property state as a basis for repayment of the loan.
 
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