Form Hud 92700 PDF Details

Right now, as you are reading this, there is a good chance that there is some form of tax filing deadline looming in the near future. For many people, this time of year can be stressful and confusing - especially when it comes to understanding what forms need to be filled out and filed. One of the more complex tax forms that taxpayers may encounter is known as Hud 92700. Today, we will take a closer look at what this form is and how it should be filled out. With Tax Day just around the corner, now is the perfect time to get prepared!

QuestionAnswer
Form NameForm Hud 92700
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesA2, hud 92700, Refinance, B14

Form Preview Example

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)

Remarks (Continue on separate page if needed)

Notes:

1.If owned less than 1 year, use lesser of A2 or Original Acquisition Cost plus Debts incurred for rehabilitation since acquisition.

2.Refer to Mortgagee Letters 05-21, 95-46, and 93-13.

3.These Allowable Costs may be released at closing, provided paid receipts or contractual agreements requiring payment are obtained

4.Required Adjustments would include additions such as financeable repairs and improvements, energy related weatherization items, and solar energy systems, as well as subtractions including sales concessions in excess of six percent of the sales price, inducements to purchase, personal property items, etc., all as per HUD Handbook 4155.1 (May also include HUD REO Lead Based Paint Credit.)

5.Maximum Mortgage before UFMIP not to exceed statutory limit.

6.See ML 2005-50.

7.Not applicable to Streamline 203(k) transactions.

8.If Condominimum limit to 100% of A3

Public reporting burden for this collection of information is estimated to average 25 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.

This information collection involves an expanded information requirement for lenders that originate and service Section 203(k) mortgages. The purpose of the information is to help mitigate program abuses. The expanded information focuses on the loan origination process and requires increased documentation and strengthened internal control procedures. Periodic reporting of the information is not required. The information also includes information that was voluntarily accepted by the 203(k) lending community. The information provides a more comprehensive basis for evaluating lender underwriting practices and thereby improves risk management of the 203(k) loan portfolio. Responses are required under Section 203(k) of the National Housing Act (12 U.S.C. 1703). No assurance of confidentiality is provided.

 

ref: Handbook 4240.4

Page 2 of 2

form HUD-92700 (06/09)

How to Edit Form Hud 92700 Online for Free

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When it comes to fields of this specific form, here's what you should do:

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fha completion process shown (part 1)

2. Just after the first selection of blank fields is completed, go on to type in the suitable information in all these - Inspection Fees x per, Lesser of Sales Price A or, C Mortgage Calculation for, LTV Factor OwnerOccupant or Less, D Mortgage Sum of Existing Debt A, Discount on Total Loan Amt minus, D x LTV Factor OwnerOccupant, E Calculation for EEM, Energy Efficient Mortgage EEM, F Summary UFMIP Factor, UFMIP, Total Escrowed Funds, Interest Rate Discount Pts, Total Mortgage Amount with UFMIP, and DE Underwriters Signature Title.

Part no. 2 in submitting fha

3. Completing Remarks Continue on separate page is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Learn how to complete fha part 3

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