Loan Summary Sheet PDF Details

Navigating through the complexities of obtaining a VA loan can feel like an intricate dance, especially for veterans stepping into the world of homeownership for the first time. Enter the VA Loan Summary Sheet form, a comprehensive document designed to streamline this process. At its core, the form demands attention to detail, starting from the very basic—such as the veteran's name, social security number, and date of birth—to the more intricate specifics like ethnicity, race, and military status. Notably, it dives into the loan's purpose, stipulating whether it's aimed at purchasing a home, refinancing, or possibly making improvements. Moreover, it delineates types of properties, ownership, loan codes, and even touches on the loan procedure—whether it's through automatic means, prior VA approval, or the IRRRL system. It also delves into financial specifics such as loan amounts, purchase price, and the all-important appraisal type, thus painting a holistic picture of the borrower's financial and personal landscape. For veterans, servicing members, and their spouses, understanding each segment of this form is pivotal in unlocking the full potential of VA loan benefits, making the journey to homeownership less daunting and more achievable.

QuestionAnswer
Form NameLoan Summary Sheet
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesMCRV, 2008, amazon, what is mcrv number on va loan summary

Form Preview Example

VA LOAN SUMMARY SHEET

1.VA'S 12-DIGIT LOAN NUMBER

2.VETERAN'S NAME (First, middle, last)

 

 

 

 

 

 

3. VETERAN'S SOCIAL SECURITY

 

4. GENDER OF VETERAN

5. VETERAN'S DATE OF BIRTH

NUMBER

 

 

 

(Check one)

(mm/dd/yyyy)

 

 

 

 

 

MALE

 

FEMALE

 

 

 

6A. ETHNICITY

 

6B. RACE (May select more than one)

 

 

 

NOT HISPANIC OR LATINO

AMERICAN INDIAN OR ALASKAN NATIVE

ASIAN

BLACK OR AFRICAN AMERICAN

HISPANIC OR LATINO

NATIVE HAWAIIAN OR PACIFIC ISLANDER

WHITE

UNKNOWN

 

 

 

 

 

 

7. ENTITLEMENT CODE (01 to 11, from VA

 

8. AMOUNT OF ENTITLEMENT AVAILABLE

Certificate of Eligibility)

 

 

 

 

(From VA Certificate of Eligibility)

 

 

 

 

 

 

 

 

 

9. BRANCH OF SERVICE (Check one)

 

4. MARINE CORPS

5. COAST GUARD

6. OTHER

1. ARMY

2. NAVY

3. AIR FORCE

10. MILITARY STATUS (Check One)

2. IN SERVICE

 

 

 

1. SEPARATED FROM SERVICE

 

 

 

11. FIRST TIME HOME BUYER (Check one)

YES

NO

This means a veteran who has not previously purchased

 

 

a home, either by cash, assumption, or new financing.

 

 

 

 

 

 

 

12. LOAN PROCEDURE

(Check one)

 

 

 

AUTOMATIC

AUTO-IRRRL

VA PRIOR APPROVAL

 

 

13. PURPOSE OF LOAN (Check one)

2. MANUFACTURED HOME

3. CONDOMINIUM

1. HOME (INCLUDES MH ON

PERMANENT FOUNDATION)

 

 

 

4. ALTERATIONS/IMPROVEMENTS

5. REFINANCE

 

 

14.LOAN CODE (Check one)

1. PURCHASE

2. IRRRL (STREAMLINE REFINANCE)

3. REGULAR ("Cash-out") REFINANCE

4. MANUFACTURED HOME

5. REFINANCING OF CONSTRUCTION LOAN, LAND SALE CONTRACT OR

REFINANCE

 

LOAN ASSUMED AT HIGHER RATE OF INTEREST (*Maximum guaranty on

 

 

these loans is $36,000)

 

15.PRIOR LOAN TYPE (Note: Must be completed if Regular ("Cash-out") Refinance is selected in Item 14)

1. FHA-FIXED 2. FHA-ARM/HARM 3. CONVENTIONAL-FIXED 4. CONVENTIONAL-ARM/HARM

5. CONVENTIONAL-INTEREST ONLY

6. VA-FIXED 7. VA-ARM/HARM

8. OTHER

 

 

 

 

 

16. TYPE OF MORTGAGE (Check one)

 

 

 

 

0. REGULAR FIXED PAYMENT 1. GPM-NEVER TO EXCEED NOV

2. OTHER GPMs

3. GEM

4. TEMPORARY BUYDOWN

5. HYBRID ARM

6. ARM

17.TYPE OF HYBRID-ARM (NOTE: Must be completed if Hybrid Arm is selected in Item 16)

3/1

5/1

7/1

10/1

 

 

 

18. TYPE OF OWNERSHIP (Check one)

 

19. CLOSING DATE

1. SOLE OWNERSHIP (VETERAN &

2. JOINT - 2 OR MORE VETERANS

(mm/dd/yyyy)

 

SPOUSE OR VETERAN ONLY)

3. JOINT - VETERAN/NON-VETERAN

 

 

 

20. PURCHASE PRICE (N/A for Refinance Loans)

$

 

 

21. REASONABLE VALUE (For IRRRLs - If appraisal has not been done,

$

loan amount of prior VA loan)

 

22.ENERGY IMPROVEMENTS (Check all applicable boxes)

NONE

 

INSTALLATION OF SOLAR

 

REPLACEMENT OF A MAJOR

HEATING/COOLING

 

ADDITION OF A NEW FEATURE

 

SYSTEM

 

 

 

 

 

INSULATION, CAULKING,

OTHER IMPROVEMENTS

 

WEATHER-STRIPPING, ETC.

 

$

23. LOAN AMOUNT

 

 

 

(Purchase - Purchase Price or RV (lesser) + Funding Fee)

 

 

 

 

(Refi - Max 90% LTV + Funding Fee)

 

 

(IRRRL - Old Loan Payoff + All Closing Costs)

$

 

 

 

 

24. PROPERTY TYPE

(Check one)

 

 

NEITHER

PUD

CONDOMINIUM

 

25. APPRAISAL TYPE (Check one)

IND - SINGLE PROPERTY-IND APPRAISAL

MBL - MANUFACTURED HOME

ONE - MASTER CRV CASE

LAPP - LENDER APPRAISAL

(MCRV)

 

HUD - CONVERSION

PMC - PROP. MGMT. CASE

NOV 2008 26-0286

WHICH WILL NOT BE USED.

VA FORM

SUPERSEDES VA FORM 26-0286, AUG 2006,

26. TYPE OF STRUCTURE (Check one)

1. CONVENTIONAL

2. SINGLEWIDE M/H

3. DOUBLEWIDE M/H

CONSTRUCTION

 

 

4. M/H LOT ONLY

5. PREFABRICATED HOME

6. CONDOMINIUM CONVERSION

27. PROPERTY DESIGNATION (Check one)

1. EXISTING OR USED HOME, CONDO, M/H

2. APPRAISED AS PROPOSED CONSTRUCTION

3. NEW EXISTING - NEVER OCCUPIED

4. ENERGY IMPROVEMENTS

 

 

 

 

28. NO. OF UNITS (Check one)

 

 

29. MCRV NO.

SINGLE

TWO UNITS

THREE UNITS

FOUR OR MORE

 

 

 

30. MANUFACTURED HOME CATEGORY(Check one)

0. OTHER - NOT M/H

 

1. M/H ONLY (RENTED SPACE)

2. M/H ONLY (VETERAN-OWNED LOT)

 

7. M/H ON PERMANENT FOUNDATION

31. PROPERTY ADDRESS

 

 

 

32. CITY

33. STATE

34. ZIP CODE

35. COUNTY

36. LENDER VA ID NUMBER

37. AGENT VA ID NUMBER (If applicable)

38. LENDER LOAN NUMBER

FOR LAPP CASES ONLY

 

 

 

39. LENDER SAR ID NUMBER

 

 

 

 

 

40. GROSS LIVING AREA

41. AGE OF PROPERTY (Yrs.)

42. DATE SAR ISSUED NOTIFICATION

(Square Feet)

 

OF VALUE (mm/dd/yyyy)

 

 

 

43. TOTAL ROOM COUNT

44. BATHS (No.)

45. BEDROOMS (No.)

46.IF PROCESSED UNDER LAPP, WAS THE FEE APPRAISER'S ORIGINAL VALUE ESTIMATE CHANGED OR REPAIR RECOMMENDATIONS REVISED, OR DID THE SAR OTHERWISE MAKE SIGNIFICANT ADJUSTMENTS?

YES (If "Yes," there must be written justification by fee appraiser and/or SAR)

NO

 

 

INCOME INFORMATION (Not Applicable for IRRRLs)

 

47A. LOAN PROCESSED UNDER VA RECOGNIZED AUTOMATED UNDERWRITING SYSTEM

YES

NO (If "Yes," Complete Item 47B and 47C)

 

 

47B. WHICH SYSTEM WAS USED?

01. LP

 

47C. RISK CLASSIFICATION

02. DU

03. PMI AURA

04. CLUES

05. ZIPPY

 

1. APPROVE

2. REFER

 

 

 

 

 

 

 

48.CREDIT SCORE (Enter the median credit score for the veteran only)

49. LIQUID ASSETS

 

$

 

 

 

 

 

50. TOTAL MONTHLY GROSS INCOME

(Item 31+Item 38 from

$

VA Form 26-6393)

 

51. RESIDUAL INCOME

 

$

 

 

 

 

 

52. RESIDUAL INCOME GUIDELINE

 

$

 

 

53.DEBT- INCOME RATIO (If Income Ratio is over 41% and Residual Income is not 120% of guideline, statement of justification signed by underwriter's supervisor must be included on or with VA Form 26-6393)

 

 

 

 

 

 

 

 

 

%

54. SPOUSE INCOME CONSIDERED

 

55. SPOUSE'S INCOME AMOUNT (If considered)

YES

NO

(If "Yes," Complete Item 55)

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DISCOUNT INFORMATION (Applicable for All Loans)

 

56. DISCOUNT POINTS CHARGED

 

 

 

% OR

$

 

 

 

 

 

 

 

 

 

57. DISCOUNT POINTS PAID BY VETERAN

 

 

 

% OR

$

 

 

 

 

 

 

 

 

 

58. TERM (Months)

 

59. INTEREST RATE

 

 

60. FUNDING FEE EXEMPT

 

 

 

 

 

%

 

Y - EXEMPT

N - NOT EXEMPT

 

 

 

 

 

 

 

 

 

 

 

 

FOR IRRRLS ONLY

 

 

 

61. PAID IN FULL VA LOAN NUMBER

 

 

 

 

 

 

 

 

 

 

 

62. ORIGINAL LOAN AMOUNT

 

63. ORIGINAL INTEREST RATE

$

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

 

 

64. REMARKS

 

 

 

 

 

 

 

 

VA FORM 26-0286, NOV 2008

How to Edit Loan Summary Sheet Online for Free

You can certainly fill out forms using our PDF editor. Revising the 47C form is a breeze in case you adhere to the next steps:

Step 1: The first thing is to hit the orange "Get Form Now" button.

Step 2: The instant you access the 47C editing page, you will find lots of the options it is possible to undertake about your form in the top menu.

Prepare the 47C PDF by providing the data needed for each part.

irrrl empty fields to consider

Complete the HOME INCLUDES MH ON PERMANENT, REFINANCE, LOAN CODE Check one, PURCHASE, IRRRL STREAMLINE REFINANCE, REGULAR Cashout REFINANCE, MANUFACTURED HOME REFINANCE, REFINANCING OF CONSTRUCTION LOAN, PRIOR LOAN TYPE Note Must be, CONVENTIONALFIXED, FHAARMHARM, FHAFIXED, CONVENTIONALINTEREST ONLY TYPE, VAFIXED, and VAARMHARM fields with any particulars that will be required by the program.

stage 2 to completing irrrl

Note the appropriate data as you are within the REASONABLE VALUE For IRRRLs If, NONE, REPLACEMENT OF A MAJOR SYSTEM, INSULATION CAULKING, INSTALLATION OF SOLAR, ADDITION OF A NEW FEATURE, OTHER IMPROVEMENTS, LOAN AMOUNT, Purchase Purchase Price or RV, PROPERTY TYPE Check one, NEITHER, PUD, CONDOMINIUM, APPRAISAL TYPE Check one, and IND SINGLE PROPERTYIND APPRAISAL area.

Entering details in irrrl step 3

In part TYPE OF STRUCTURE Check one, CONVENTIONAL CONSTRUCTION MH LOT, SINGLEWIDE MH, DOUBLEWIDE MH, PREFABRICATED HOME, CONDOMINIUM CONVERSION, PROPERTY DESIGNATION Check one, NO OF UNITS Check one, APPRAISED AS PROPOSED, MCRV NO, SINGLE, TWO UNITS, THREE UNITS, FOUR OR MORE, and MANUFACTURED HOME CATEGORY Check, indicate the rights and obligations.

Filling in irrrl part 4

End by looking at the next areas and typing in the appropriate particulars: LENDER SAR ID NUMBER, FOR LAPP CASES ONLY, GROSS LIVING AREA Square Feet, AGE OF PROPERTY Yrs, DATE SAR ISSUED NOTIFICATION OF, TOTAL ROOM COUNT, BATHS No, BEDROOMS No, IF PROCESSED UNDER LAPP WAS THE, YES, If Yes there must be written, INCOME INFORMATION Not Applicable, A LOAN PROCESSED UNDER VA, YES, and B WHICH SYSTEM WAS USED.

irrrl LENDER SAR ID NUMBER, FOR LAPP CASES ONLY, GROSS LIVING AREA Square Feet, AGE OF PROPERTY Yrs, DATE SAR ISSUED NOTIFICATION OF, TOTAL ROOM COUNT, BATHS No, BEDROOMS No, IF PROCESSED UNDER LAPP WAS THE, YES, If Yes there must be written, INCOME INFORMATION Not Applicable, A LOAN PROCESSED UNDER VA, YES, and B WHICH SYSTEM WAS USED blanks to complete

Step 3: As soon as you are done, hit the "Done" button to upload your PDF document.

Step 4: To avoid any specific issues in the long run, be sure to get no less than two or three copies of the document.

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