Form Hud-92700 - 203(K) And Streamlined (K) Maximum Mortgage Worksheet
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2U.S. Department of Housing
203(k) and Streamlined (k)
OMB Approval
Maximum Mortgage Worksheet
and Urban Development
No. 2502-0527
Office of Housing
(exp. 04/30/2011)
See Public Reporting Statement on the back before
Federal Housing Commissioner
completing this form (See Notes 1 thru 8 on back)
⎕
HUD REO?
Borrower's Name & Property Address
No. of Units
Purchase
FHA Case Number
(include street, city, State, and zip code)
⎕
⎕
⎕
Refinance
Yes
NO
⎕
Streamlined
(k)
Type:
(Note 6)
Purchase Date (owned
⎕
⎕
Owner-Occupant
Nonprofit
less than 12 months)
⎕
Government Agency
A. Property
1. Contract Sales Price 2. 'As-is'
Value
5. Borrower Paid Closing Costs 6. Allowable energy
3. After-improved
4. 110%
⎕
Information
of A3
Improvements
Or
Existing Debt
(Note 1)
Value
+ Prepaids (Refinance)
(Note 8)
(Note 2)
$
$
$
$
$
B.
1. Total Cost of Repairs (Line 36, HUD-9746-A) includes the improvements in A6
Rehabilitation
and Other
$
and REO Lead Based Paint Stabilization
Allowable
$
Costs
2. Contingency Reserve on Repair Costs (
%) (10 to 20% of B1)
3.
(
x $
)+
(
x $
)
$
Inspection Fees
per inspection
Title Update Fee
per draw
$
4. Mortgage Payments Escrowed (
months x $
) if uninhabited (Note 7)
$
5. Sub-Total for Rehabilitation Escrow Account (Total of B1 thru B4)
$
6. Architectural and Engineering Fees (Exhibits) (Note 7)
7.
$
Consultant Fees (including mileage, if applicable) ($______+_____ miles@_____/mile)
)
(Note 7
$
8. Permits
$
9. Other Fees (explain in Remarks)
$
10. Sub-Total (Total of B5 thru B9)
11.
$
Supplemental Origination Fee for both 203k and Streamlined (k) (greater of $350 or 1.5% of B10)
$
12. Discount Points on Repair Costs and Fees (B10x
%)
$
13. Sub-Total for Release at Closing (Total of B6 thru B9 + B11 and B12 (Note 3)
14.
Total Rehabilitation Cost (Total of B5 and B13 minus A6)
(Streamlined (k) can not exceed $35,000)
$
C. Mortgage
$
1. Lesser of Sales Price (A1) or As-Is-Value (A2)
Calculation
$
2. Total Rehabilitation Cost (B14)
for Purchase
$
3. Lesser of Sum of C1 + C2 ($
) or 110% of After-Improved Value (A4)
Transactions
4. Base Mortgage Amount: Sum of C3 +(-) Required Adjustment (Note 4) ($
) x
LTV Factor (96.5%) (Owner-Occupant) or Less Allowable Down payment/
$
HUD-Owned Property ($
) (Note 5)
D. Mortgage
1.
Sum of Existing Debt (A1) + Rehabilitation Cost (B14) + Borrower Paid Closing Costs + Prepaids (A5)+
Calculation
$
Discount on Total Loan Amt minus Discount on Repair Costs (B12) minus FHA MIP Refund ($
)
for Refinance
2. Lesser of Sum of As-is Value (A2) (Note 1) + Rehabilitation Cost (B14) ($
)
Transactions
$
or 110% of After-Improved Value (A4)
$
3. D2 ($
) x LTV Factor (97.75%) (Owner-Occupant)
4. Base Mortgage Amount Lesser of D1 or D3 (Note 5)
$
E.
Calculation
for EEM
1. Energy Efficient Mortgage (EEM) Amount (C4 or D4) + A6 (Note 2)
$
F. Summary UFMIP Factor
UFMIP
Total Escrowed Funds
Interest Rate Discount Pts
%
$
$
%
1. Total Mortgage Amount with UFMIP (C4, or D4 or E1 + UFMIP)
$ __________
DE Underwriter's Signature, Title & Date
CHUMS No.
Borrower's Signature & Date (Optional)
Co-Borrower's Signature & Date (Optional)
ref: Handbook 4240.4
Page 1 of 2
form HUD-92700 (06/09)
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