Transcription of Section 3.1: Borrower Eligibility - esnmc.com
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Section 3.1: Borrower Eligibility - esnmc.com
Section : Borrower Eligibility Borrower Eligibility A Overview SecurityNational Mortgage will allow mortgages made to natural persons only. If the borrowers are another type of legal entity or hold title in another type of entity (such as a corporation, S Corporation, non revocable inter vivos trust, life estate, land trust, general partnership or real estate syndication), the mortgage is ineligible. Additionally, loans where a custodian, agent, conservator, or guardian is signing on behalf of the Borrower , non Borrower spouse, or a vested owner are not allowed. B Borrower 's Age All borrowers must have reached the age at which the mortgage note can be legally enforced in the jurisdiction where the property is located.
Section 3.1: Borrower Eligibility SNMC Page | 3 3.1E Residency (cont’d) 3.1E3 NonPermanent Resident Aliens Non‐permanent resident aliens are non‐United States citizens who are permitted to …
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