General Tips for Entering 203k Calculator Information
Below are tips for entering case information in either version of 203k Calculator:
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General Tips for Entering 203k Calculator Information
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Below are tips for entering case information in either version of 203k Calculator: |
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Enter dollar amounts only, do not enter a dollar sign, comma, decimal point, or cents (i.e., enter 1000 not $1,000.00). | ||
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Amounts should be trunkated to whole dollars (i.e., if an amount is 100.45, then enter 100). | ||
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If an amount is zero, you may leave the field blank or enter a zero. | ||
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The case characteristics, i.e., Standard or Limited, purchase or refinance, determine what fields are displayed and must be entered. Some field labels differ based on the case type. | ||
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Some fields are system-calculated and based on other fields on the calculator. Use the field labels to help you determine how an amount is calculated. | ||
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If data entry is not permitted in a field, it is protected by the system. | ||
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Once the calculator is successfully processed, Step 4G. Final Base Mortgage Amount and Step. 5A. MIP LTV are calculated and displayed only on the 203k Calculator Results page. These are the potential maximums for the loan and not the actual loan amounts. | ||
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