Editable 1008 Form – Fill Out and Use This PDF

The Editable 1008 form, also known as the Uniform Underwriting and Transmittal Summary, is a crucial document in the mortgage lending process. It collects detailed information on the borrower, the property being financed, mortgage and loan specifics, underwriting details, and seller and contact information. For those preparing to apply for a mortgage, understanding and accurately completing this form is vital. Click the button below to get started on filling out your Editable 1008 form.

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Editable 1008 Form PDF Details

Navigating the complexities of the home loan process is made simpler with tools like the Editable 1008 form, officially known as the Uniform Underwriting and Transmittal Summary. This form plays a pivotal role in the mortgage landscape, offering a comprehensive snapshot of the borrowers' and property information that underwriters need to assess risk effectively. It touches on various critical areas including borrower name, occupancy status, sales price, and property address, further categorizing properties based on their type, project classification, and the rights associated. The form does not stop at property information; it extends into detailed mortgage information, underwriting considerations such as borrower income, loan-to-value ratios, and even the level of property review required. Moreover, it dives into the specifics of the mortgage loan, such as the type of loan, its purpose, the amortization type, and loan term, alongside the underwriting information, which highlights the underwriter and appraiser's details, stable monthly income versus property expenses, and qualifying ratios. The integration of sections on seller and contact information seals the form as a crucial document in the underwriting process, blending borrower, property, and loan details into one accessible format. By streamlining the submission of important data, the Editable 1008 form ensures that lenders have all the information they need at their fingertips, promoting efficiency and accuracy in the mortgage underwriting process.

Question	Answer
Form Name	Editable 1008 Form
Form Length	1 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	15 sec
Other names	form 1008 underwriting transmittal, underwriting transmittal summary, form 1077 fannie mae, fannie mae 1008

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Uniform Underwriting and Transmittal Summary

I. Borrower and Property Information

Borrower Name________________________________________________________________________	Occupancy Status	Sales Price$______________________
Total # of Borrowers____________________	 Primary Residence	Appraised Value $__________________
Property Address_______________________________________________________________________	 Second Home
	 Investment Property

Property Type			Project Classification
 1 unit			Freddie Mac	Fannie Mae
 2 units			 Streamlined Review	 E Established PUD Project	Property Rights
 3 units			 Established Project	 F New PUD Project	 Fee Simple
 4 units			 New Project	 P Limited Review - New Condo Project	 Leasehold
 Condominium			 Detached Project	 Q Limited Review - Established Condo Project
 PUD	 Co-op		 2- to 4-unit Project	 R Full Review - New Condo Project
 Manufactured Housing			 Exempt from Review	 S Full Review - Established Condo Project
 Single Wide		 Multiwide	 Reciprocal Review	 T Fannie Mae Review through PERS - Condo Project
				 U FHA-approved Condo Project
				 V Condo Project Review Waived
				 1 Full Review - Co-op Project
				 2 Fannie Mae Review through PERS - Co-op Project
Project Name_______________________________________________				Fannie Mae Condo Project Manager™ Project ID# (if any) __________________________________________

II. Mortgage Information
Loan Type		Amortization Type		Loan Purpose	Lien Position
 Conventional		 Fixed-Rate—Monthly Payments		 Purchase	 First Mortgage
 FHA		 Fixed-Rate—Biweekly Payments		 Cash-Out Refinance	Amount of Subordinate Financing
 VA		 Balloon		 Limited Cash-Out Refinance (Fannie)	$ __________________________
 USDA/RD		 ARM (type)		 No Cash-Out Refinance (Freddie)	(If HELOC, include balance and credit limit)
		 Other (specify)		 Home Improvement	 Second Mortgage

				 Construction Conversion/Construction to Permanent 
	Note Information		Mortgage Originator		Temporary Buydown
	Loan Amount $_____________		 Seller		 Yes
	Note Rate ___________________ %		 Broker		 No
	Loan Term (in months) ______________		 Correspondent		Terms _________________
			Broker/Correspondent Name and Company Name:


	III. Underwriting Information
Underwriter’s Name			Appraiser’s Name/License #			Appraisal Company Name
__________________________________________			____________________________________________________			________________________________________________________________
	Stable Monthly Income				Proposed Monthly Payment for the Property
	Borrower 1	$_____________			First Mortgage P&I			$____________________
	Borrower 2	$_____________			Subordinate Lien (s) P&I			$____________________
	Borrower 3	$_____________		Loan-to-Value Ratios	Homeowner’s Insurance			$____________________
	Borrower 4	$_____________		LTV________________%	Supplemental Property Insurance			$____________________
	Other Borrowers (5+)	$_____________		CLTV/TLTV__________%	Property Taxes			$____________________
	Rental Income - subject property	$_____________		HCLTV/HTLTV________%	Mortgage Insurance			$____________________
	Net Rental Income - other properties	$_____________			Association/Project Dues (Condo, Co-Op, PUD)			$____________________
	Total Borrower Income	$_____________			Other			$____________________
	 At least one borrower is self-employed				Total			$____________________
				Level of Property Review
				Level of Property Review
	Qualifying Ratios			 Exterior/Interior
	Primary Housing Expense/Income	__________%		 Exterior Only	All Other Monthly Payments Used in Qualifying			$____________________
	Total Obligations/Income(DTI)	__________%		 No Appraisal
	Total Obligations/Income(DTI)
				Form Number__________		Borrower Funds to Close
						Borrower Funds to Close
	Qualifying Rate						Required	$____________________
	 Rate Used for Qualifying	__________%		Escrow (T&I)  Yes  No			Verified Assets	$____________________
	 Initial Bought-Down Rate	__________%
	 Other	__________%			No. of Months Reserves__________________
				
	Risk Assessment				Interested Party Contributions______________%
	 Manual Underwriting
	 AUS			Affordable Housing Initiative	Homeownership Education Certificate in File
	 DU  LPA  Other			 Yes  No	 Yes	 No
	AUS Recommendation

DU Case ID/LP AUS Key#

LPA Doc Class (Freddie)

Representative Credit/Indicator Score

Underwriter Comments

IV. Seller and Contact Information

SELLER NAME_____________________________________	CONTACT NAME________________________________	CONTACT PHONE NUMBER________________
SELLER ADDRESS___________________________________	CONTACT TITLE_________________________________	___________________________________
_______________________________________________
SELLER NO_______________________________________	INVESTOR LOAN NO______________________________
SELLER LOAN NO___________________________________

Freddie Mac Form 1077 12/18

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Fannie Mae Form 1008 12/18

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form fannie 1008 completion process shown (stage 1)

2. Once the previous section is completed, it's time to insert the necessary details in Conventional FHA VA USDARD, Mortgage Originator Seller, Temporary Buydown Yes No Terms, III Underwriting Information, Appraisers NameLicense, Appraisal Company Name, Proposed Monthly Payment for the, All Other Monthly Payments Used in, LoantoValue Ratios LTV, Level of Property Review, Exterior Only No Appraisal, Form Number, At least one borrower is, Stable Monthly Income Borrower, and Qualifying Ratios Primary Housing so that you can go further.

Part # 2 for filling out form fannie 1008

3. This third step is rather uncomplicated, Qualifying Rate Rate Used for, Affordable Housing Initiative Yes, IV Seller and Contact Information, Seller Name Seller Address Seller, Contact Name Contact Title, Contact Phone Number, Freddie Mac Form, Page of, and Fannie Mae Form - all these empty fields must be filled in here.

Seller Name Seller Address Seller, Qualifying Rate Rate Used for, and Contact Name Contact Title of form fannie 1008

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Editable 1008 Form – Fill Out and Use This PDF

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