Va Form 26-8923 - Interest Rate Reduction Refinancing Loan Worksheet

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OMB Approved No. 2900-0386
Respondent Burden: 10 minutes
INTEREST RATE REDUCTION REFINANCING LOAN WORKSHEET
RESPONDENT BURDEN: VA may not conduct or sponsor, and respondent is not required to respond to this collection of information unless it displays a valid OMB
Control Number. Public reporting burden for this collection of information is estimated to average 10 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. If you have
comments regarding this burden estimate or any other aspect of this collection of information, call 1-800-827-1000 for mailing information on where
to send your comments.
VA LOAN NUMBER
NOTE - Submit this form when requesting guaranty on an Interest Rate Reduction Refinancing Loan.
SECTION I - INITIAL COMPUTATION
LINE
ITEM
AMOUNT
NO.
$
1.
EXISTING VA LOAN BALANCE (PLUS COST OF ENERGY EFFICIENT IMPROVEMENTS)
2.
SUBTRACT ANY CASH PAYMENT FROM VETERAN
_
TOTAL
$
3.
SECTION II - PRELIMINARY LOAN AMOUNT
LINE
ITEM
AMOUNT
NO.
4.
ENTER TOTAL FROM LINE 3
$
+
5.
ADD
% DISCOUNT BASED ON LINE 4
6.
ADD
% ORIGINATION FEE BASED ON LINE 4
+
+
7.
ADD
% FUNDING FEE BASED ON LINE 4
+
8.
ADD OTHER ALLOWABLE CLOSING COSTS AND PREPAIDS
9.
TOTAL
$
SECTION III- FINAL COMPUTATION
LINE
ITEM
AMOUNT
NO.
10.
ENTER TOTAL FROM LINE 9
$
+
11.
ADD
% DISCOUNT BASED ON LINE 10
=
12.
SUBTOTAL
13.
SUBTRACT AMOUNT SHOWN ON LINE 5
_
14.
SUBTOTAL
+
*
15.
ADD
% FUNDING FEE BASED ON LINE 14 (Round to nearest dollar)
16.
SUBTOTAL
=
_
17.
SUBTRACT AMOUNT SHOWN ON LINE 7
18.
TOTAL - MAXIMUM LOAN AMOUNT
$
**
NOTE * FINAL FUNDING FEE TO BE REMITTED TO VA
** MAXIMUM LOAN AMOUNT MAY BE ROUNDED OFF, BUT MUST ALWAYS BE ROUNDED DOWN TO AVOID CASH TO THE VETERAN.
ROUND-OFF AMOUNTS OF LESS THAN $50 DO NOT REQUIRE RECOMPUTATION.
DATE
NAME OF LENDER
SIGNATURE AND TITLE OF OFFICER OF LENDER
26-8923
VA FORM
EXISTING STOCK OF VA FORM 26-8923, JAN 1997
MAY 2000
WILL BE USED.

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