Form Hud 92700 – Fill Out and Use This PDF

203(k) and Streamlined (k)

U.S. Department of Housing

OMB Approval

Maximum Mortgage Worksheet

and Urban Development

No. 2502-0527

See Public Reporting Statement on the back before

Office of Housing

(exp. 06/30/2014)

completing this form (See Notes 1 thru 8 on back)

Federal Housing Commissioner

Borrower's Name & Property Address (include street, city, State, and zip code)

FHA Case Number

No. of Units

HUD REO?

⎕ Purchase

⎕Yes

⎕ NO

⎕ Refinance

⎕ Streamlined (k)

Type:

(Note 6)

⎕ Owner-Occupant ⎕ Nonprofit

Purchase Date (owned

less than 12 months)

⎕ Government Agency

A. Property

1. Contract Sales Price

2. 'As-is' Value

3. After-improved

4. 110%

5. Borrower Paid Closing Costs

6. Allowable energy

Information

Or

⎕ Existing Debt

(Note 1)

Value

of A3 (Note 8)

+ Prepaids (Refinance)

Improvements (Note 2)

$

$

$

$

$

B. Rehabilitation

1.

Total Cost of Repairs (Line 36, HUD-9746-A) includes the improvements in A6

and Other

and REO Lead Based Paint Stabilization

$

Allowable Costs

2.

Contingency Reserve on Repair Costs (

%) (10 to 20% of B1)

$

3.

Inspection Fees (

x $

per inspection)+ Title Update Fee (

x $

per draw)

$

4.

Mortgage Payments Escrowed (

months x $

) if uninhabited (Note 7)

$

5.

Sub-Total for Rehabilitation Escrow Account (Total of B1 thru B4)

$

6.

Architectural and Engineering Fees (Exhibits) (Note 7)

$

7. Consultant Fees (including mileage, if applicable) ($______+_____ miles@_____/mile) (Note 7)

$

8.

Permits

$

9.

Other Fees (explain in Remarks)

$

10.

Sub-Total (Total of B5 thru B9)

$

11. Supplemental Origination Fee for both 203k and Streamlined (k) (greater of $350 or 1.5% of B10)

$

12.

Discount Points on Repair Costs and Fees (B10x

%)

$

13.

Sub-Total for Release at Closing (Total of B6 thru B9 + B11 and B12 (Note 3)

$

14.

Total Rehabilitation Cost (Total of B5 and B13 minus A6) (Streamlined (k) can not exceed $35,000)

$

C. Mortgage

1.

Lesser of Sales Price (A1) or As-Is-Value (A2)

$

Calculation

2.

Total Rehabilitation Cost (B14)

$

for Purchase

3.

Lesser of Sum of C1 + C2 ($

) or 110% of After-Improved Value (A4)

$

Transactions

4.

Base Mortgage Amount: Sum of C3 +(-) Required Adjustment (Note 4) ($

) x

LTV Factor (96.5%) (Owner-Occupant) or Less Allowable Down payment/

HUD-Owned Property ($

) (Note 5)

$

D. Mortgage

1. Sum of Existing Debt (A1) + Rehabilitation Cost (B14) + Borrower Paid Closing Costs + Prepaids (A5)+

Calculation

Discount on Total Loan Amt minus Discount on Repair Costs (B12) minus FHA MIP Refund ($

)

$

for Refinance

2.

Lesser of Sum of As-is Value (A2) (Note 1) + Rehabilitation Cost (B14) ($

)

Transactions

or 110% of After-Improved Value (A4)

$

3.

D2 ($

) x LTV Factor (97.75%) (Owner-Occupant)

$

4.

Base Mortgage Amount Lesser of D1 or D3 (Note 5)

$

E. Calculation

for EEM

1.

Energy Efficient Mortgage (EEM) Amount (C4 or D4) + A6 (Note 2)

$

F. Summary

UFMIP Factor

UFMIP

Total Escrowed Funds

Interest Rate

Discount Pts

%

$

$

%

1. Total Mortgage Amount with UFMIP (C4, or D4 or E1 + UFMIP)

$ __________

DE Underwriter's Signature, Title & Date

CHUMS No.

Borrower's Signature & Date (Optional)

Co-Borrower's Signature & Date (Optional)

ref: Handbook 4240.4

Page 1 of 2

form HUD-92700 (06/09)