BUSINESS PURPOSE LOAN CERTIFICATION, NON-OWNER OCCUPANCY DECLARATION, AND AUTHORIZATION
BUSINESS PURPOSE & NON-OWNER OCCUPANCY CERTIFICATION
I/We ("Borrower") hereby certify and represent to Impulse Capital Partners, LLC, its affiliates, successors, assigns, lending partners, investors, and authorized representatives (collectively, the "Lender") that:
The property(ies) identified in this loan application are being acquired, refinanced, rehabilitated, improved, held, or operated strictly for business, commercial, or investment purposes.
I/We do not currently occupy, nor do I/we intend to occupy, any subject property as a primary residence, secondary residence, vacation home, or personal dwelling.
No immediate family member, relative, dependent, or household member is expected to occupy the subject property as a primary residence during the term of the loan.
All loan proceeds shall be used solely for business, commercial, or investment purposes and shall not be used for personal, family, or household purposes.
I/We understand and acknowledge that this is a commercial-purpose loan transaction and not a consumer-purpose loan transaction.
COMMERCIAL LOAN DISCLOSURE
I/We acknowledge and agree that because this loan is being obtained for business, commercial, or investment purposes, certain federal and state consumer protection laws may not apply, including, but not limited to:
The Truth in Lending Act (TILA)
The Real Estate Settlement Procedures Act (RESPA)
The Homeowners Protection Act (HPA)
Other federal and state consumer lending laws applicable to consumer-purpose mortgage loans
I/We further acknowledge that the Lender is relying upon these representations in evaluating and approving this loan request.
AUTHORIZATION TO VERIFY INFORMATION
By submitting this application, I/We expressly authorize Impulse Capital Partners, LLC, its affiliates, lending partners, investors, brokers, underwriters, servicing agents, successors, assigns, and authorized representatives to:
Verify any information provided in this application and supporting documentation.
Obtain and review consumer and business credit reports, including soft and hard credit inquiries, as necessary to evaluate, process, underwrite, service, modify, extend, or collect the requested loan.
Verify employment, income, assets, liabilities, business ownership, property ownership, banking relationships, references, and other information relevant to the loan request.
Conduct background investigations, public record searches, fraud prevention reviews, and other due diligence reasonably necessary to evaluate the application.
Reverify credit and other information at any time during the underwriting process and, if necessary, prior to closing to confirm continued eligibility.
BORROWER CERTIFICATION
I/We certify that all information provided in this application and any supporting documentation is true, correct, and complete to the best of my/our knowledge.
I/We understand that the Lender and its lending partners will rely upon the information provided in evaluating this loan request. I/We acknowledge that any material misrepresentation, omission, or false statement may result in denial of the loan application, cancellation of any approval, acceleration of the loan, and/or other remedies available under applicable law.
I/We further understand that knowingly providing false information in connection with a loan application may constitute a violation of federal and state law and may subject me/us to civil and criminal penalties.
By checking the acknowledgment box and submitting this application electronically, I/We confirm that I/we have read, understood, and agree to the terms and certifications contained herein.