Spreadsheet: 25752812-f1a9-46da-be1d-1d1f284f5034
Sheet: Sheet1

203(k) and Streamlined (k) | Unnamed: 1 | Unnamed: 2 | U.S. Department of Housing | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | OMB Approval
Maximum Mortgage Worksheet |  |  | and Urban Development |  |  |  |  | No. 2502-0527
See Public Reporting Statement on the back before |  |  | Office of Housing |  |  |  |  | (exp. [NAME])
completing this form (See Notes 1 thru 8 on back) |  |  | Federal Housing Commissioner
Borrower's Name & Property Address (include street, city, State, and zip code) |  |  |  | FHA Case Number |  | No. of Units | HUD REO? | [NAME]
 |  |  |  |  |  |  | ⎕Yes   ⎕ NO | ⎕ Refinance
 |  |  |  | Type: |  |  |  | ⎕ Streamlined (k)    (Note 6)
 |  |  |  | ⎕  Owner-Occupant    ⎕  Nonprofit |  |  |  | Purchase Date (owned less than 12 months)
 |  |  |  | ⎕  Government Agency
A. Property | 1. Contract Sales Price | 2. 'As-is' Value | 3. After-improved |  | 4. 110% | 5. [NAME] Paid Closing Costs |  | 6. Allowable energy
Information | Or    ⎕  Existing Debt | (Note 1) | Value |  | of A3 (Note 8) | + Prepaids (Refinance) |  | Improvements (Note 2)
 | $ | $ | $ |  | $ | $
B. Rehabilitation | 1.   Total Cost of Repairs (Line 36, HUD-9746-A) includes the improvements in A6
and Other | and REO Lead Based Paint Stabilization |  |  |  |  |  |  | $
Allowable Costs | 2.   Contingency Reserve on Repair Costs (            %) (10 to 20% of B1) |  |  |  |  |  |  | $
 | 3.   Inspection Fees (        x $             per inspection)+ Title Update Fee (        x $              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.  [NAME] 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 [NAME] (Note 3) |  |  |  |  |  |  | $
 | 14. Total Rehabilitation Cost (Total of B5 and B13 minus [NAME]) (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 [NAME] 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)
Remarks  (Continue on separate page if needed)
Notes:
1.  If owned less than 1 year, use lesser of A2 or Original Acquisition Cost plus Debts incurred for
rehabilitation since acquisition.
2.  [NAME] to Mortgagee Letters 05-21, 95-46, and 93-13.
3.  These Allowable Costs may be released at closing, provided paid receipts or contractual agreements
requiring payment are obtained
4.  [NAME] would include additions such as financeable repairs and improvements,
energy related weatherization items, and solar energy systems, as well as subtractions
including sales concessions in excess of six percent of the sales price, inducements to purchase,
personal property items, etc., all as per HUD Handbook 4155.1 (May also include HUD REO Lead
Based Paint Credit.)
5.  Maximum Mortgage before UFMIP not to exceed statutory limit.
6.  See ML 2005-50.
7.  Not applicable to Streamline 203(k) transactions.
8.  If Condominimum limit to 100% of A3
Public reporting burden for this collection of information is estimated to average 25 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. This agency may not collect this information, and you are
not required to complete this form, unless it displays a currently valid OMB control number.
This information collection involves an expanded information requirement for lenders that originate and service Section 203(k) mortgages. The purpose of the information is
to help mitigate program abuses. The expanded information focuses on the loan origination process and requires increased documentation and strengthened internal control
procedures. Periodic reporting of the information is not required. The information also includes information that was voluntarily accepted by the 203(k) lending community. The
information provides a more comprehensive basis for evaluating lender underwriting practices and thereby improves risk management of the 203(k) loan portfolio. Responses
are required under Section 203(k) of the National Housing Act (12 U.S.C. 1703). No assurance of confidentiality is provided.