| Field |
Description |
| FHA Case Number |
Unique 10-digit identifier assigned to the mortgage by the Federal Housing
Administration (FHA). |
| Case Information |
| Property Address |
| Street Address |
House
number of the property and name or number of the street on which it is located. |
| City |
City in which the property is located. |
| State |
State in which the property is located. |
| Zip Code |
U.S. Postal Service Zonal Improvement
Plan (ZIP) code for the geographic location of the property. |
| Census Tract |
Geographic region of the property defined for the purpose of taking a census and includes the two-digit Federal Information Processing Standard (FIPS) state code, three-digit FIPS county code, and six-digit Census Tract code. Note: Zeroes are displayed in this field if the Census Tract code was not found. |
| Opportunity Zone |
Specifies whether the census tract was designated by the Secretary of the U.S. Department of the Treasury as a Qualified Opportunity Zone (QOZ). QOZs are census tracts that are low income communities as defined in Section 1400Z(c) of the National Housing Act, which references the New Market Tax Credit program at 26 U.S.C. 45D(e).
| • |
Yes: Property is located in a QOZ. |
| • |
No: Property is not located in a QOZ or system was unable to validate whether the property is located in a QOZ (i.e., Census Tract is 00000000000). |
| • |
N/A: FHA case number was assigned to the mortgage before the implementation of QOZs. |
| • |
Override: For a Limited 203(k) case, this is a HUD override of the initial Opportunity Zone designation of No after the lender submitted proof the property is located in a QOZ. |
|
| Borrower Data |
| Borrower Name (Last, First, MI): Borr1, Borr2 |
Last name, first name, and middle initial of the mortgagor or co-mortgagor. |
| Return to top |
| Case Characteristics |
| 203k Type |
Indicator specifying the type of 203(k) Rehabilitation Mortgage.
| Standard: Mortgage used for remodeling and repairs. A minimum repair cost of $5,000 and the use of a 203(k) consultant are required. |
| Limited: Mortgage used for minor remodeling and non-structural repairs. The total rehabilitation cost cannot exceed $75,000; there is no minimum. The use of a 203(k) consultant is optional. Note: For a mortgage assigned an FHA case number before November 4, 2024, the maximum is $35,000 for a Limited 203(k) and $50,000 for property located in a Qualified Opportunity Zone (QOZ). |
|
| Purchase/Refinance |
Classification of the mortgage as a purchase or refinance (FHA-to-FHA or conventional refinance). |
| Condominium |
Indicator specifying whether the property is a condominium. |
| Secondary Residence |
Indicator specifying whether the property is a secondary residence (i.e., the borrower occupies the dwelling less than a majority of the calendar year, in addition to the borrower's principal residence, and is not a vacation home). |
| $100 REO Down Payment Program |
HUD Real Estate Owned (REO) property classification:
| • |
Not REO: Not HUD REO property. |
| • |
REO, not $100 down: HUD REO property that is not being purchased under the FHA $100 Down Sales Incentive. |
| • |
$100 down REO: HUD REO property that is being purchased under the FHA $100 Down Sales Incentive. |
|
| Minimum Decision Credit Score |
This field is pre-filled if TOTAL Scorecard was processed and displays the effective Fair Isaac Corporation (FICO) credit score for the borrower(s) in TOTAL Scorecard; Minimum Decision Credit Score (MDCS). |
| EEM |
Indicator specifying whether the mortgage is classified as an Energy Efficient Mortgage (EEM). |
| Solar/Wind |
Indicator specifying whether a solar or wind energy system is being installed on the property with the proceeds of the loan. |
| Property Acquired |
Specification of the time period within which the property was acquired by the borrower for a refinance case:
| • |
Less than 12 months prior to Case Number Assignment date. |
| • |
Greater than or equal to 12 months prior to Case Number Assignment date. |
| • |
Less than 12 months through Inheritance or Gift from Family Member. |
|
| Return to top |
| Step 1: Establishing Financeable Repair and Improvement Costs, Fees and Reserves |
| A. Repair and Improvement Costs and Fees Total (sum of Step A1 thru Step A7) |
Total amount of financeable repair and improvement costs and mortgage fees. View-only field that displays the system-calculated sum of all applicable items listed under this field (A1 through A7). |
| |
1. Costs of Construction, Repairs and Rehabilitation |
Total cost of eligible improvements to the property. |
| |
2. Architectural or Engineering Professional Fees |
Total cost of fees paid for architectural or engineering professional services. (This item is not applicable to a Limited 203(k) case.) |
| |
3. 203k Consultant Fees |
Total cost of fees paid to an FHA-approved 203(k) consultant. |
| |
4. Draw Inspection Fees during Construction Period |
Total cost of fees drawn from the escrow account to pay for inspections during rehabilitation of the property. |
| |
5. Title Update Fees |
Total cost of title update fees. |
| |
6. Permit Fees |
Total cost of fees paid for required permits. |
| |
7. Feasibility Study (when necessary) |
Total cost of a study performed to determine if the project is financially feasible. (This item is not applicable to a Limited 203(k) case.) |
| B. Financeable Contingency Reserves |
Amount of financeable funds that are set aside to cover unforeseen project costs. The minimum and maximum contingency reserve is established as a percentage of the financeable repair and improvement costs. Note: The sum of Step 1B. Financeable Contingency Reserves and Step 6D. Borrower's Own Funds for Contingency Reserves must meet or exceed the minimum required contingency reserves. |
| C. Financeable Mortgage Payments Reserves |
Amount of financeable funds that are set aside to make mortgage payments when the property cannot be occupied during rehabilitation. (This item is not applicable to a Limited 203(k) case.) |
| D. Financeable Mortgage Fees Total (sum of Step D1 and Step D2) |
View-only field that displays the system-calculated sum of the mortgage fees that can be financed.
| • |
Step D1: Origination Fee. |
| |
-plus- |
| • |
Step D2: Discount Points on Repair Costs and Fees. |
|
| |
1. Financeable Origination Fee |
Financeable portion of the borrower-paid origination fee not to exceed the greater of $350.00 or 1.5% of the sum of:
| • |
Step 1A. Repair and Improvement Costs and Fees Total (sum of Step A1 thru Step A7). |
| • |
Step 1B. Financeable Contingency Reserves. |
| • |
Step 1C. Financeable Mortgage Payments Reserves. (This item is not applicable to a Limited 203(k) case.) |
|
| |
2. Discount Points on Repair Costs and Fees |
Financeable portion of the borrower-paid discount points on repair costs and fees not to exceed an amount equal to the discount point percentage multiplied by the sum of:
| • |
Step 1A. Repair and Improvement Costs and Fees Total (sum of Step A1 thru Step A7). |
| • |
Step 1B. Financeable Contingency Reserves. |
| • |
Step 1C. Financeable Mortgage Payments Reserves. (This item is not applicable to a Limited 203(k) case.) |
|
| E. Total Rehabilitation Cost (Step 1 total) (sum of Steps 1A, 1B, 1C and 1D) |
View-only field that displays the system-calculated sum of the total cost of rehabilitation of the property as follows:
| • |
Step 1A. Repair and Improvement Costs and Fees Total. |
| • |
Step 1B. Financeable Contingency Reserves. |
| • |
Step 1C. Financeable Mortgage Payments Reserves. (This item is not applicable to a Limited 203(k) case.) |
| • |
Step 1D. Financeable Mortgage Fees Total (sum of Step D1 and Step D2). |
This is also referred to as the Step 1 total. |
| Return to top |
| Step 2: Establishing Value |
| Adjusted As-Is Value - Purchase Case |
| A. Purchase Price |
Contract sales price of the property. This field is pre-filled and view-only if Appraisal Logging was processed. |
| B. Inducements to Purchase |
Amount of certain expenses paid by the seller and/or another interested party on behalf of the borrower that results in a dollar-for-dollar reduction to the Adjusted Value of the property before applying the appropriate loan-to-value (LTV) percentage. |
| C. Purchase Price Minus Inducements to Purchase |
View-only field that displays the system-calculated sum of:
| • |
Step 2A. Purchase Price. |
| |
-minus- |
| • |
Step 2B. Inducements to Purchase. |
|
| D. As-Is Property Value (when an As-Is Appraisal is performed) |
Estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date. This field is only applicable if an as-is appraisal was performed. It is pre-filled and view-only if Appraisal Logging was processed. Note: An as-is appraisal is required for a purchase case if the resale date of the property is between 91 and 180 days following the acquisition of the property by the seller and the resale price is 100% or more over the price paid by the seller to acquire the property. |
| E. Adjusted As-Is Value |
View-only field that displays the lesser non-zero amount of:
| • |
Step 2C. Purchase Price Minus Inducements to Purchase. |
| |
-or- |
| • |
Step 2D. As-Is Property Value (when an As-Is Appraisal is performed). |
|
| After-Improved Value - Purchase Case |
| F. Appraised Value (subject to repairs and Improvements) |
Appraised value of the property subject to completion, repairs, or plans and specifications. This field is pre-filled and view-only if Appraisal Logging was processed. |
| Return to top |
| Adjusted As-Is Value - Refinance Case |
| A. Existing Debt on Property Being Refinanced |
Total amount of existing debt on the property. |
B. Step 1 Total (Step 1E)
|
View-only field that displays the amount from Step 1E. Total Rehabilitation Cost. |
| C. Fees Associated with the New Loan |
Projected mortgage closing costs and prepaid items (e.g., flood and hazard insurance premiums, MIP, real estate taxes, and per diem interest). |
| D. Sum of Step 2A, Step 2B and Step 2C |
View-only field that displays the system-calculated sum of:
| • |
Step 2A. Existing Debt on Property Being Refinanced |
| • |
Step 2B. Step 1 Total (Step 1E) |
| • |
Step 2C. Fees Associated with the New Loan. |
|
| E. As-Is Property Value (when an As-Is Appraisal is performed) |
Estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date. This field is only applicable if an as-is appraisal was performed. It is pre-filled and view-only if Appraisal Logging was processed. Note: For a refinance case, an as-is appraisal is required if Step 2A. Existing Debt on Property Being Refinanced and Step 2B. Step 1 Total (Step 1E) is greater than Step 2G. Appraised Value (subject to repairs and improvements). An as-is appraisal is always required for property acquired less than 12 months prior to the Case Number Assignment date(if not acquired by gift or inheritance through a family member). |
| F. Adjusted As-Is Value |
View-only field displaying the system-calculated adjusted as-is value as follows:
| • |
As-is value of the property, if an as-is appraisal was performed (Step 2E). |
| |
-or- |
| • |
Sum of Step 2A. Existing Debt on Property Being Refinanced and Step 2C. Fees Associated with New Loan. |
|
| After-Improved Value - Refinance Case |
| G. Appraised Value (subject to repairs and improvements) |
Appraised value of the property subject to completion, repairs, or plans and specifications. This field is pre-filled and view-only if Appraisal Logging was processed. |
| Return to top |
| Step 3: Calculating Maximum Mortgage |
| Calculating Maximum Mortgage - Purchase Case |
| A. Sum of Step 2E + Step 1E (i.e., Adjusted As-Is Value + Step 1 total) |
View-only field that displays the system-calculated sum of:
| • |
Step 2E. Adjusted As-Is Value. |
| |
-plus- |
| • |
Step 1E. Total Rehabilitation Cost (Step 1 total) (sum of Steps 1A, 1B, 1C and 1D). |
|
| B. Step 2F (i.e., After-Improved Value) X 110% (or 100% for condominiums) |
View-only field that displays a system-calculated sum as follows:
| • |
If No was selected in the Condominium field, this is the sum of Step 2F. Appraised Value (subject to repairs and improvements) multiplied by 110%. |
| • |
If Yes was selected in the Condominium field, this is the sum of Step 2F. Appraised Value (subject to repairs and improvements) multiplied by 100%. |
|
| C. Less Lead-Based Paint Credit |
For a HUD REO purchase case only, this is the amount of the credit adjustment provided by HUD at sales closing associated with a lead-based paint stabilization plan. (Otherwise, this item is not applicable and is view only.) |
| D. Lesser of Step 3A or Step 3B ($__________) x Step 3G __________% (appropriate LTV Factor) Minus Step 3C |
View-only field that displays the system-calculated amount that is the lesser of:
| • |
Step 3A. Sum of Step 2E + Step 1E (i.e., Adjusted As-Is Value + Step 1 total). |
| |
-or- |
| |
Step 3B. Step 2F (i.e. After-Improved Value) X 110% (or 100% for condominiums). |
| • |
multiplied by Step 3G. Determining Loan-to-Value Factor for Maximum Mortgage Eligibility. |
| • |
minus Step 3C. Less Lead-Based Paint Credit. |
|
| -OR- |
|
| D. Lesser of Step 3A or Step 3B ($__________) Minus $100 Minus Step 3C |
View-only field for a HUD $100 REO Down purchase case that displays the system-calculated amount that is the lesser of:
| • |
Step 3A. Sum of Step 2E + Step 1E (i.e., Adjusted As-Is Value + Step 1 total). |
| |
-or- |
| |
Step 3B. Step 2F (i.e. After-Improved Value) X 110% (or 100% for condominiums). |
| • |
minus $100 |
| • |
minus Step 3C. Less Lead-Based Paint Credit. |
|
| E. Nationwide Mortgage Limit |
View-only field displaying the county-level median price estimate used by the FHA for mortgage limit determination. The value displayed is based on the property information entered for Case Number Assignment.
|
| F. Initial Base Mortgage Amount = Lesser of Step 3D or Step 3E |
View-only field that displays the system-calculated amount that is the lesser of:
| • |
Step 3D. Lesser of Step 3A or Step 3B ($__________) x Step 3G __________% (appropriate LTV Factor) Minus Step 3C (or for a HUD $100 Down REO case, Step 3D. Lesser of Step 3A or Step 3B ($________) Minus $100 Minus Step________3C). |
| |
-or- |
| • |
Step 3E. Nationwide Mortgage Limit. |
|
| G. Determining Loan-to-Value Factor for Maximum Mortgage Eligibility |
View-only field that displays the system-calculated maximum LTV factor. Information in the Minimum Decision Credit Score (MDSC) and Secondary Residence fields is used in determining the maximum LTV factor. |
| Return to top |
| Calculating Maximum Mortgage - Refinance Case |
| A. Step 2D (sum of 2A, 2B and 2C) |
View-only field displaying the system-calculated sum of:
| • |
Step 2A. Existing Debt on Property Being Refinanced. |
| • |
Step 2B. Step 1 Total (Step 1E). |
| • |
Step 2C. Fees Associated with the New Loan. |
|
| B. Sum of Step 2F + Step 1E (i.e., Adjusted As-Is Value + Step 1 total) |
View-only field that displays the system-calculated sum of:
| • |
Step 2F. Adjusted As-Is Value. |
| |
-plus- |
| • |
Step 1E. Total Rehabilitation Cost (Step 1 total) (sum of Steps 1A, 1B, 1C and 1D). |
|
| C. Step 2G (i.e., After-Improved Value) X 110% (or 100% for condominiums) |
View-only field that displays a system-calculated sum as follows:
| • |
If No was selected in the Condominium field, this is the sum of Step 2G. Appraised Value (subject to repairs and improvements) multiplied by 110%. |
| • |
If Yes was selected in the Condominium field, this is the sum of Step 2G. Appraised Value (subject to repairs and improvements) multiplied by 100%. |
|
| D. Lesser of Step 3B or Step 3C ($__________) x Step 3G __________% (appropriate LTV Factor) |
View-only field that displays the system-calculated amount that is the lesser of:
| • |
Step 3B. Sum of Step 2F + Step 1E (i.e., Adjusted As-Is Value + Step 1 total). |
| |
-or- |
| |
Step 3C. Step 2G (i.e., After-Improved Value) X 110% (or 100% for condominiums). |
| • |
multiplied by Step 3G. Determining Loan-to-Value Factor for Maximum Mortgage Eligibility. |
|
| E. Nationwide Mortgage Limit |
View-only field displaying the county-level median price estimate used by the FHA for mortgage limit determination. The value displayed is based on the property information entered for Case Number Assignment.
|
| F. Initial Base Mortgage Amount (lesser of Steps 3A, 3D or 3E) |
View-only field that displays the system-calculated amount that is the lesser of:
| • |
Step 3A. Step 2D (sum of 2A, 2B and 2C). |
| |
-or- |
| • |
Step 3D. Lesser of Step 3B or Step 3C ($__________) x Step 3G __________% (appropriate LTV Factor). |
| |
-or- |
| • |
Step 3E. Nationwide Mortgage Limit. |
|
| G. Determining Loan-to-Value Factor for Maximum Mortgage Eligibility |
View-only field that displays the system-calculated maximum LTV factor. Information entered in the Minimum Decision Credit Score and Secondary Residence fields is used in determining the maximum LTV factor. |
| Return to top |
| Step 4: Additions to Base Mortgage Amount |
| A. Energy Efficient Improvement Amount (EEM) |
Total amount of cost-effective energy efficient improvements being financed under the Energy Efficient Mortgage (EEM) program. (For a non-EEM case (i.e., No was selected in the EEM field), this item is not applicable and is view only.) |
| B. Intermediate Base Mortgage Amount = Step 3F + Step 4A |
For a purchase case, this is the view-only field that displays the system-calculated sum of:
| • |
Step 3F. Initial Base Mortgage Amount = Lesser of Step 3D or Step 3E. |
| |
-plus- |
| • |
Step 4A. Energy Efficient Improvement Amount (EEM). |
For a refinance case, this is the view-only field that displays the system-calculated sum of:
| • |
Step 3F. Initial Base Mortgage Amount (lesser of Steps 3A, 3D or 3E). |
| |
-plus- |
| • |
Step 4A. Energy Efficient Improvement Amount (EEM). |
|
| C. Solar Energy System Cost and Installation |
Total cost of installing an eligible solar or wind system in accordance with HUD's solar and wind technologies policy. (For a non-solar/wind case (i.e., No was selected in the Solar/Wind field), this item is not applicable and is view only.) |
| D. Step 2F x 20% (i.e., After-Improved Value x 20%) |
For a purchase case, this is the view-only field that displays the system-calculated sum of:
| • |
Step 2F. Appraised Value (subject to repairs and improvements), which is the after-improved value of the property |
| • |
multiplied by 20%. |
|
| OR |
|
| D. Step 2G x 20% (i.e., After-Improved Value x 20%) |
For a refinance case, this is the view-only field that displays the system-calculated sum of:
| • |
Step 2G. Appraised Value (subject to repairs and improvements), which is the after-improved value of the property |
| • |
multiplied by 20%. |
|
| E. Solar Energy Amount to Be Added to Base Mortgage Amount = Lesser of Step 4C or Step 4D |
View-only field that displays the system-calculated solar/wind amount to be added to the base loan amount. For a purchase case, this is:
| • |
Step 4C. Solar Energy System Cost and Installation. |
| |
-or- |
| • |
Step 4D. Step 2F x 20% (i.e., After-Improved Value x 20%). |
For a refinance case, this is:
| • |
Step 4C. Solar Energy System Cost and Installation. |
| |
-or- |
| • |
Step 4D. Step 2G x 20% (i.e., After-Improved Value x 20%). |
|
| F. Step 3E x 120% (i.e., Nationwide Mortgage Limit x 120%) |
View-only field that displays the system-calculated sum of 120% of the National Mortgage Limit.
| • |
Step 3E. Nationwide Mortgage Limit |
| • |
multiplied by 120%. |
|
G. Final Base Mortgage Amount = Lesser of (sum of Step 4B and Step 4E) or Step 4F
|
View-only field that displays the system-calculated sum of:
| • |
Step 4B. Intermediate Base Mortgage Amount = Step 3F + Step 4A |
| |
- |
plus Step 4E. Solar Energy Amount to Be Added to Base Mortgage Amount = Lesser of Step 4C or Step 4D |
| |
-or- |
| • |
Step 4F. Step 3E x 120% (i.e., Nationwide Mortgage Limit x 120%). |
|
| Return to top |
| Step 5: Calculating the LTV |
| Calculating the LTV - Purchase Case |
| A. MIP LTV = Step 4G Divided by Step 2F (i.e., Final Base Mortgage Amount divided by After-Improved Value) |
For a purchase case, this is the view-only field that displays the system-calculated loan-to-value (LTV) ratio for determining the annual mortgage insurance premium (MIP) rate.
| • |
Step 4G. Final Base Mortgage Amount = Lesser of (sum of Step 4B and Step 4E) or Step 4F |
| |
-divided by- |
| • |
Step 2F. Appraised Value (subject to repairs and improvements), which is the after-improved value of the property. |
|
| B. Case LTV = Step 4G Divided by Lesser of Step 3A or Step 3B |
For a purchase case, this is the view-only field that displays the system-calculated loan-to-value (LTV) for the case based on the maximum allowable mortgage amount.
| • |
Step 4G. Final Base Mortgage Amount = Lesser of (sum of Step 4B and Step 4E) or Step 4F |
| |
-divided by the lesser of- |
| • |
Step 3A. Sum of Step 2E + Step 1E (i.e., Adjusted As-Is Value + Step 1 total) or 3B. Step 2F (i.e., After-Improved Value) X 110% (or 100% for condominiums). |
|
| Calculating the LTV - Refinance Case |
| A. MIP LTV = Step 4G Divided by Step 2G (i.e., Final Base Mortgage Amount divided by After-Improved Value) |
For a refinance case, this is the view-only field that displays the system-calculated loan-to-value (LTV) ratio for determining the annual mortgage insurance premium (MIP) rate.
| • |
Step 4G. Final Base Mortgage Amount = Lesser of (sum of Step 4B and Step 4E) or Step 4F |
| |
-divided by- |
| • |
Step 2G. Appraised Value (subject to repairs and improvements), which is the after-improved value of the property. |
|
| B. Case LTV = Step 4G Divided by Lesser of Step 3B or Step 3C |
For a refinance case, this is the view-only field that displays the system-calculated loan-to-value (LTV) for the case based on the maximum allowable mortgage amount.
| • |
Step 4G. Final Base Mortgage Amount = Lesser of (sum of Step 4B and Step 4E) or Step 4F |
| |
-divided by the lesser of- |
| • |
Step 3B. Sum of Step 2F + Step 1E (i.e., Adjusted As-Is Value + Step 1 total) or 3C. Step 2G (i.e., After-Improved Value) X 110% (or 100% for condominiums). |
|
| Return to top |
| Step 6: Establishing the Rehabilitation Escrow Account |
| A. Total Rehabilitation Cost (Step 1 total) + |
View-only amount from Step 1E. Total Rehabilitation Cost (Step 1 total) (sum of Steps 1A, 1B, 1C and 1D). |
| B. Cost of Energy Efficient Improvement Amount (Step 4A) + |
View-only amount from Step 4A. Energy Efficient Improvement Amount (EEM). |
| C. Cost of Financed Solar Energy Systems Improvement (Step 4E) + |
View-only amount from Step 4E. Solar Energy Amount to Be Added to Base Mortgage Amount = Lesser of Step 4C or Step 4D. |
D. Borrower’s Own Funds for Contingency Reserves +
|
Amount provided from the borrower's own funds for contingency reserves. Note: The sum of Step 1B. Financeable Contingency Reserves and Step 6D. Borrower's Own Funds for Contingency Reserves must meet or exceed the minimum required contingency reserves. |
| E. Rehabilitation Escrow Amount Total (sum of Steps 6A, 6B, 6C and 6D) |
View-only field that displays the system-calculated amount for an interest-bearing rehabilitation escrow account. The sum of the following:
| • |
Step 6A. Total Rehabilitation Cost (Step 1 total) +. |
| • |
Step 6B. Cost of Energy Efficient Improvement Amount (Step 4A) +. |
| • |
Step 6C. Cost of Financed Solar Energy Systems Improvement (Step 4E) +. |
| • |
Step 6D. Borrower's Own Funds for Contingency Reserves +. |
|
| F. Initial Draw at Closing Total (sum of Step F1 thru Step F7) |
Total portion of costs and fees that are reimbursed at mortgage closing through a draw of the escrow funds. View-only field that displays the system-calculated sum of all applicable items listed under this field (F1 through F7). |
| |
1. 203k Consultant Fees |
Portion of the fees paid to an FHA-approved 203(k) consultant, not to exceed the amount in Step 1A. 3. 203k Consultant Fees, that are reimbursed via a draw at closing. |
| |
2. Architectural or Engineering Professional Fees |
Portion of the fees paid for architectural or engineering professional services, not to exceed the amount in Step 1A. 2. Architectural or Engineering Professional Fees. (This item is not applicable to a Limited 203(k) case.) |
| |
3. Permit Fees |
Portion of the fees paid for required permits that are reimbursed at mortgage closing through a draw of the escrow funds, not to exceed the amount in Step 1A. 6. Permit Fees. |
| |
4. Origination Fees |
Portion of the fees paid for the origination of the mortgage, not to exceed the amount in Step 1D. 1. Financeable Origination Fee. |
| |
5. Discount Points on Repair Costs and Fees |
Portion of the fees paid for discount points on repair costs and fees, not to exceed the amount in Step 1D. 2. Discount Points on Repair Costs and Fees. |
| |
6. Material Cost for Items Ordered and Prepaid by Borrower or Contractor (under contract for delivery) |
Portion of the material cost of items prepaid by the borrower in cash or by the contractor, where a contract is established with the supplier and an order is placed with the manufacturer for delivery at a later date. (This item is not applicable to a Limited 203(k) case.) |
| |
7. Up to 50% of Material Cost for Items Ordered but Not Yet Paid for (under contract for delivery) |
Portion of the material costs (up to 50%) for items not yet paid for by the borrower or contractor, where a contract is established with the supplier and an order is placed with the manufacturer for delivery at a later date. |
| G. Rehabilitation Escrow Amount Balance (for future draws) = Step 6E Minus Step 6F |
View-only field that displays the system-calculated rehabilitation escrow balance.
| • |
Step 6E. Rehabilitation Escrow Amount Total (sum of Steps 6A, 6B, 6C and 6D) |
| |
-minus- |
| • |
Step 6F. Initial Draw at Closing Total (sum of Step F1 thru Step F7). |
|