INTEREST RATE REDUCTION REFINANCING LOAN WORKSHEET
PRIVACY ACT NOTICE: VA will not disclose information collected on this form to any source other than what has been authorized under the Privacy Act of 1974 or
Title 38, Code of Federal Regulations 1.576 for routine uses (i.e., to a member of Congress inquiring on behalf of a veteran) as identified in the VA system of records,
55VA26, Loan Guaranty Home, Condominium and Manufactured Home Loan Applicant Records, Specially Adapted Housing Applicant Records, and Vendee Loan
Applicant Records - VA, and published in the Federal Register. Your obligation to respond is voluntary; however, failure to complete the form could result in your
making a loan in excess of the allowable amount.
RESPONDENT BURDEN: This information is needed to help you determine the appropriate amount of the VA-guaranteed loan you intend to process. Title 38, United
States Code, allows us to ask for this information. We estimate that you will need an average of 10 minutes to review the instructions, find the information, and complete
this form. VA cannot conduct or sponsor a collection of information unless a valid OMB control number is displayed. You are not required to respond to a collection of
information if this number is not displayed. Valid OMB control numbers can be located on the OMB Internet Page www.reginfo.gov/public/do/PRAMain
. If desired,
you can call 1-800-827-1000 to get information on where to send comments or suggestions about this form.
SECTION I - INITIAL COMPUTATION
OMB Approved No. 2900-0386
Respondent Burden: 10 minutes
Expiration Date: 09/30/2021
VA LOAN NUMBER
NOTE - Submit this form when requesting guaranty on an Interest Rate Reduction Refinancing Loan.
18.
EXISTING VA LOAN BALANCE (PLUS COST OF ENERGY EFFICIENT IMPROVEMENTS)
$
2.
3.
SUBTOTAL
$
ADD % DISCOUNT BASED ON LINE 4
ITEMLINE NO. AMOUNT
1.
$
SUBTRACT ANY CASH PAYMENT FROM VETERAN
4.
8.
$
SECTION III - FINAL COMPUTATION
=
SECTION II - PRELIMINARY LOAN AMOUNT
$
ADD OTHER ALLOWABLE CLOSING COSTS AND PREPAIDS
9.
10.
+
ADD % FUNDING FEE BASED ON LINE 4
11.
TOTAL
NOTE: * 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.
–
NAME OF LENDERDATE
ENTER TOTAL FROM LINE 9
12.
13.
SUBTOTAL
14.
ADD % FUNDING FEE BASED ON LINE 16
VA FORM
SEP 2018
ENTER TOTAL FROM LINE 3
26-8923
EXISTING STOCKS OF VA FORM 26-8923, JUN 2009,
WILL BE USED.
–
5.
TOTAL
7.
+
+
6. ADD % ORIGINATION FEE BASED ON LINE 4
+
ADD % DISCOUNT BASED ON LINE 10
+
SUBTOTAL
15.
=
TOTAL - MAXIMUM LOAN AMOUNT
16.
–
SUBTRACT AMOUNT SHOWN ON LINE 7
SIGNATURE AND TITLE OF OFFICER OF LENDER (Sign in ink)
17.
$
+
*
SUBTRACT AMOUNT SHOWN ON LINE 5
=
