(cont.)
I. Determination of Maximum Insurable Mortgage
Criteria
column 1
column 2
column 3
6. Amount Based on Estimated Cost of Rehabilitation Plus
(i) “As Is” Value, or (ii) Acquisition Cost,
or (iii) Existing Mortgage Indebtedness Against the Property Before Rehabilitation:
a. Total Estimated Development Cost
$ _____________
b. Estimated Cost of Off-Site C onstruction
$ _____________
0.00
c. Sum of lines a & b
$ _____________
d. Grant/Loan funds attributable to R. C. items
$ _____________
e. Line c minus line d
$ _____________
f. “As Is” Value of Prop. Before Rehab.
$ ___________ X ___________ % $ _____________
g. Existing Mortgage Indebtedness (Property Owned) or Purchase Price of Property (to be Acquired) $ _____________
h. Line e plus line f or line g, whichever is less
$ _____________
i. Line h
X _______ %
$ _____________
7. Amount Based on Borrower's Total Cost of Acquisition Section 223(f)
a. Purchase Price of Project
$ _____________
b. Repairs and Improvements, if any
$ _____________
c. Other fees
$ _____________
d. Loan Closing Charges *
$ _____________
0.00
e. Sum of lines a through d
$ _____________
f. Enter the Sum of any Grant/Loan and Reserves for Replacement and
Major Movable Equipment to be purchased as an asset of t he project
$ _____________
g. Line e minus line f
$ _____________
h. Line g
X _______ %
$ _____________
8. Amount Based on Sum of Unit Mortgage Amounts
$ _____________
9. Amount Based on Estimated Cost to Borrower
a. Total Estimated Cost (Exclusive of Site and Required Construction Off the Site)
$ _____________
b. Purchase Price of Site
$ _____________
c. Total Cost of Clearing Site, if any
$ _____________
d. Expense of Relocating Occupants, if any
$ _____________
e. Cost of Off-Site Construction, if any
$ _____________
0.00
f. Sum of line a through line e
$ _____________
g. Line f
X _______ %
$ _____________
10. Amount Based on Existing Indebtedness, Repairs, and Loan Closing Charges Section 223(f)
a. Total Existing Indebtedness
$ _____________
b. Required Repairs
$ _____________
c. Other Fees
$ _____________
d. Loan Closing Charges *
$ _____________
e. Sum of line a through line d
$ _____________
0.00
f. Enter the Sum of any Grant/Loan and Reserves for Replacement and
Major Movable Equipment on Deposit
$ _____________
g. Line e minus line f
$ _____________
h. 80% of Value
$
_________ X80%
$ _____________
i. Greater of line g or line h
$ _____________
11. Amount Based on Deduction of Grant(s), Loan(s), Tax Credit(s) and Gift(s) for Mortgageable items:
a. 100% Project (Replacement) Cost *
$ _____________
b. (1) Grants/loans/gifts
$ _____________
(2) Tax Credits
$ _____________
(3) Value of Leased Fee
$ _____________
(4) Excess Unusual Land Improvement Cost
$ _____________
(5) Cost Containment Mtge Deduction
$ _____________
(6) Unpaid Balance of Special Assessment
$ _____________
(7) Sum of Lines (1) through (6)
$ _____________
0.00
c. Line a. minus line b. (7)
$ _____________
* Project Cost applies to Criteria 7 and 10 under Section 223 (f) and applications pursuant to 223(f). Project Replacement
Cost applies to Section 221 (d) and other Sections of the Act mortgages limited by Replacement Cost.
* Attach format for computing loan closing charges.
Maximum Insurable Mortgage (Lowest of the Foregoing Criteria)
$
form HUD-92264-A (03/2010)
Previous editions are obsolete
Page 2 of 4
ref Handbooks 4480.1 & 4470.1