Form Hud 92900Lt PDF Details

Navigating the complexities of securing a Federal Housing Administration (FHA) loan can be daunting for both borrowers and lenders. At the heart of this process lies the HUD 92900-LT form, a crucial document required by the U.S. Department of Housing and Urban Development (HUD) for FHA loan underwriting and transmittal summary. This form encompasses a wide array of information, including borrower and property specifics, mortgage details like amortization type and loan purpose, as well as underwriting information which assesses the borrower's financial stability and the property's value. It requires meticulous input on the part of the lender, from indicating the property type and rights, detailing the loan's purpose—be it a purchase or various types of refinancing—to calculating the borrower's income and the proposed monthly expenses, and even verifying the borrower's required funds at closing and their sources. Furthermore, it integrates considerations for secondary financing, gifts, and seller contributions, while ensuring compliance with federal guidelines on privacy and data security. Designed to facilitate a comprehensive evaluation of the loan application, the HUD 92900-LT form serves as a foundational element in determining the eligibility for FHA mortgage insurance, streamlining the approval process for lenders and safeguarding the interests of borrowers.

QuestionAnswer
Form NameForm Hud 92900Lt
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesfha 92900 lt, form 92900, form 92900 form, mi gcc loan hud 92900

Form Preview Example

FHA Loan Underwriting

 

 

 

U.S Department of Housing and OMB Approval No. 2502-0059

and Transmittal Summary

 

 

 

Urban Development

 

expires (02/28/2014)

See back of page for Public Burden and Sensitive Information statements Office of Housing Federal Housing Commissioner

 

 

 

 

 

Borrower and Property Information FHA Case No. _______________________________

SOA __________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower Name

 

 

 

 

 

 

 

 

 

SSN:

 

 

 

 

 

 

Co-Borrower

 

 

 

 

 

 

 

 

 

SSN:

 

 

 

 

 

 

Property Address

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type (check only 1)

 

Additional Property Information

 

Property Rights

Construction

 

 

 

1 Unit

2 Units

3 -4 Units

Sales Price

$

 

 

 

Fee Simple

 

Existing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condominium

 

 

Co-op

Appraised Value $

 

 

 

Leasehold

 

Proposed

 

 

 

 

 

 

 

 

 

 

 

 

Manufactured Housing

 

 

 

 

 

 

 

 

 

 

 

New (less than 1 year)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage Information

 

Amortization Type (check only 1)

 

 

 

 

 

 

 

Loan Purpose (Check all that apply)

Secondary Financing

 

 

 

 

Fixed-Rate - MonthLy Payments

 

 

 

 

 

 

 

 

 

 

Purchase

 

 

 

 

 

 

Source/EIN ____________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ARM 1_____, 3_____, 5_____, 7_____,or 10_____ yr

 

 

 

 

No Cash-Out Refinance

 

 

 

 

 

Gov' t

 

 

 

 

 

 

NP

 

 

 

Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ARM Index

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash-Out Refinance

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ARM Margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Streamline Refinance:

 

Amount of Secondary Financing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Int. Rate Buydown

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

w/appraisal

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

w/o appraisal

 

Gifts

Seller Funded DPA

 

 

 

Y/N

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.) Source/EIN__________________

 

 

 

Mortgage w/o UFMIP

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction-to -Permanent

 

 

 

 

Total UFMIP

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy Efficient Mortgage

 

 

 

 

Gov' t

 

 

 

 

 

NP

 

 

 

 

Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage w/ UFMIP

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Building On Own Land

 

 

 

 

Other _____________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

HUD REO

 

 

 

 

 

Amount of Gift $ _______________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Qualifying Rate

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

203(k)

 

 

 

 

 

2.) Source/EIN __________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1Yr. ARM)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

Gov' t

 

 

 

 

 

NP

 

 

 

Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan Term (in months)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Gift $

_______________

 

 

Underwriting Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monthly Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Proposed Monthly Payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower

Co-Borrower

 

 

 

Total

 

Borrow er' s Primary Residence

 

 

 

 

 

 

 

 

 

 

Base Income

$

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

First Mortgage P&I

 

 

 

$

 

 

 

 

 

 

 

 

 

 

Other Income

$

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

Monthly MIP

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

Net Rental Income

$

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

HOA Fee

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

Total Income

$

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

Lease/Ground Rent

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Mortgage P&I

 

 

 

$

 

 

 

 

 

 

 

 

 

 

Debts &Obligations

 

 

 

Monthly

 

 

 

 

Unpaid Balance

 

Hazard Insurance

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Installment debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxes & Special Assessments

 

$

 

 

 

 

 

 

 

 

 

 

Child Support

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Monthly Payment

 

 

 

$

 

 

 

 

 

 

 

 

 

 

Negative Rental Cash Flow

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Qualifying Ratios

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All other monthly payments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Payment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LTV

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

Borrower Funds to Close

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLTV (if 2nd permitted)

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Required

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortage Payment -to -income

 

 

 

 

 

 

 

 

 

 

%

Verifed Assets

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Payment-to-income

 

 

 

 

 

 

 

 

 

 

%

Closing Costs

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrower

 

 

 

 

 

 

 

 

 

 

Co-Borrow er

 

 

Source of Funds

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

No. of Months in Reserves

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

CAIVRS#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Seller Contribution

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LDP/GSA

 

 

yes

 

no

 

 

 

 

 

 

 

 

 

yes

 

 

 

no

 

 

Underwriter Comments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Underwriter' s signature & date (if required)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHUMS ID#

 

 

 

 

 

 

 

 

 

 

 

 

 

 

X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Assessment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Scored by TOTAL?

 

 

 

 

yes

 

no

Risk Class

 

 

 

AA or

 

 

Refer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHUMS ID# for Reviewer of appraisal_______________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Required for loans scored by TOTAL with risk class AA or loans where the appraisal and credit reviews are performed by different underwriters.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GCC - 92900LT -1

(06/11)

form HUD-92900-LT (5/2008)

 

FHA Loan Underwriting

U.S Department of Housing

and Transmittal Summary

and Urban Development

 

Office of Housing Federal Housing Commissioner

This information is required to determine the eligibility of FHA mortgage insurance applicants. Public reporting burden for this collection of information is estimated to average 6 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 conduct or sponsor, and a person is not required to respond to, a collection information unless that collection displays a valid OMB control number. Sensitive Information: The information collected on this form is considered sensitive and is protected by the Privacy Act. The Privacy Act requires that these records be maintained with appropriate administrative, technical, and physical safeguards to ensure their security and confi dentiality. In addition, these records should be protected against any anticipated threats or hazards to their security or integrity which could result in substantial harm, embarrassment, inconvenience, or unfairness to any individual on whom the information is maintained.

Borrower and Property Information

 

SOA:

Lenders must enter the Section of the Act under which the

 

mortgage is to be insured.

Mortgage Information

 

Interest Rate:

Lenders must enter the rate for fixed rate mortgages or the

 

initial rate for 3, 5, 7, and 10 year ARMs.

ARM Index:

Lenders must enter the name of the index used.

Total UFMIP:

Lenders must enter the amount being financed into the loan

 

(i.e. exclude cents).

Qualifying Rate:

Lenders must enter the interest rate used to qualify a borrower

 

for a 1 year ARM.

Loan Purpose:

Lenders must check all loan purpose types that apply (e.g. the

 

purchase of a property owned by HUD should have both the

 

Purchase and HUD REO boxes checked).

Secondary Financing:

Lenders must indicate the source type. If indicating a nonprofi t

 

(NP) or government agency (Gov' t), they must also enter in the

 

Employer Identifi cation Number (EIN) for the entity. When

 

indicating Other, lenders must identify the type, e.g. employer,

 

labor union, and enter in the EIN (if applicable).

Seller-Funded DAP:

Lenders must indicate whether any of the gift funds are derived

 

from such a program by entering Y.

Gifts:

Lenders must indicate the source type(s). If indicating a

 

nonprofit (NP) or government agency (Gov' t), they must also

 

enter in the Employer Identification Number (EIN) for the entity.

 

When indicating Other, lenders must identify the type(s), e.g.

 

employer, labor union, and enter in the EIN (if applicable).

Underwriting Information

 

Negative Rental Cash Flow:

If there is negative rental cash flow for the subject property

 

and/or other properties owned by the borrower, the lender must

 

enter the total dollar amount.

Total Fixed Payment:

All debts and obligations, including the propsed housing

 

payment.

Borrower Funds to Close Required:

Lenders must enter the total amount that the borrower is

 

required to pay at closing. If the borrower is receiving cash

 

back, the amount should be in parentheses.

Closing Costs:

Lenders must enter the amount being paid by the borrower,

 

which may include prepaid & non-recurring closing costs but not

 

discount points.

No. of Months in Cash Reserves:

Lenders must enter the number of months in reserves for 3 and 4

 

unit properties only.

Seller Contribution:

Lenders must enter as a percentage of the sales price.

CHUMS ID# for Review of Appraisal:

This captures the CHUMS ID of the underwriter who reviewed

 

the appraisal. Completing this field is applicable when the

 

underwriter who reviewed the appraisal is different from the one

 

who reviewed the credit package (e.g. an Automated

 

Underwriting System).

 

 

GCC - 92900LT -2(2/09)r

form HUD-92900-LT (5/2008)