Sample Worksheet for Calculating Maximum Loan Amount
Single-Close Repair and Rehabilitation Loans
A.
Borrower
Information and
L
oan Information
1. Borrower Name(s)
2. Borrower ID Number (GUS/GLS)
3. Rehab Type
a) Structural
b) Non-Structural
4. Property Address
B.
Property Information
1. Contract Sales Price
$
$
3. Guarantee Fee
$
4. Maximum Loan Allowed (B2 + B3)
$
C.
Rehabilitation/Repair
Costs
1. Total Cost of Repairs/Improvements
$
2. Contingency Reserve (___ %)
$
3. PITI Reserve (____months x $______)
$
4. Inspection Fees (____x $_____ per inspection)
$
5. Consultant Fees
6. Title Update Fees
$
7. Architectural/Engineering Fees
$
8. Permit Fees
$
9.Total Repair Costs
(C1 thru C8)
$
D.
Eligible Closing Costs
1. Other Fees
(explain in Comments Section)
$
2. Guarantee Fee, financed
$
3. Total Closing Costs
(D1 +D2)
$
E.
Total Loan
Calculations
1. Contract Sales Price (B1)
$
2. Total Repair Costs
(C9)
$
3. Total Closing Costs
(D3)
$
4. Total Amount of Loan
(E1 thru E3)
$
Borrower's Signature
Date
Co-Borrower's Signature
Date
Underwriter's Signature
Title
Date
$
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Sample Worksheet for Calculating Maximum Loan Amount
Single-Close Repair and Rehabilitation Loans
Comments:
Notes:
A3 = a) Includes non-structural loans over $35,000; b) Repairs do not exceed $35,000
and dwelling must be deemed habitable.
A4 = Existing dwelling 12 months or older.
B4 = As Improved market value + amount of financed GRH fee.
C2 = Up to 10% when utilities were on during inspection; up to 15% when utilities were off.
C3 = Up to 6 months; include only for structural or repairs over $35,000 when the dwelling is deemed uninhabitable by
inspector.
C5 = Cost must be included for structural repairs or repairs over $35,000.
D1 = Do not include amounts paid by borrower at closing. Refer to paragraph 12.15 for eligible costs.
D2 = Include only the amount of the GRH fee being financed.
E4 = Amount cannot be greater than B4.
Refer to HB-1-3555, Chapter 12, paragraph 12.8 and 7 CFR 3555, 3555.105 for program requirements.