Fha Maximum Mortgage Calculation Worksheet
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1FHA Maximum Mortgage Calculation Worksheet
Streamline With Appraisal
Borrower Name(s):
CMS Loan #:
FHA Case #:
Step 1
Calculate Maximum Base Mortgage based on LTV Limitation
0.00
0.00
1 a.
Appraised Value $ _____________________
X 97.75%
$ ________________________
0.00
1 b.
Original FHA Loan Amount (Base + MIP) $ __________________
Step 2
Calculate Maximum Base Mortgage based on Existing Debt Calculation
2 a.
Unpaid Principal Balance (may include up to 60 days interest for
the current month but may not include late charges, escrow
$ ________________________
0.00
shortages, delinquent interest, and processing type fees)
2 b.
0.00
Allowable Borrower-Paid Closing Costs excluding discount points
$ ________________________
2 c.
Prepaid Expenses (includes per diem interest to end of month
on new loan + hazard insurance deposits + real estate tax
deposits needed to establish the escrow account)
$ ________________________
0.00
2 d.
0.00
Lender credit for closing costs and prepaid expenses
$ ________________________
0.00
2 e.
Subtotal (2a + 2b + 2c – 2d)
$ ________________________
2 f.
Maximum UFMIP (lesser of):
Unearned UFMIP Refund (from FHA Refinance Authorization
or appropriate MIP Refund Schedule)
0.00
$ _________________________
OR
New Estimated UFMIP
0.00
$ _________________________
0.00
$ ________________________
0.00
2 g.
Total (2e – 2f)
$ ________________________
Step 3
Determine Maximum Base Mortgage
0.00
3 a.
Lessor of 1a or 2 g
$ ________________________
Step 4
Determine Total New Mortgage Amount
4 a.
UFMIP (if financed):
Maximum Base Mortgage (3a)
0.00
$ _________________________
X
UFMIP factor (based on UFMIP chart using date when case
number ordered)
0.00
_________________________
$ ________________________
0.00
4b.
Total New Mortgage Amount :
$ ________________________
Maximum Base Mortgage (3a) + UFMIP (4a)
Must be <= 100% of Appraised Value
MAY NOT EXCEED ORIGINAL
PRINCIPAL AMOUNT OF EXISTING FHA
MORTGAGE PLUS MIP
LoanStream, a division of OCMBC, Inc.
Page 1 of 1
14351 Myford Road, Ste. 200, Tustin, CA 92780
11//01/13
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