Tim Bradford   
Loan Officer  
Employee of AMMCorp.net
216-324-8113

  AMMC_Matrix.xls
203K Loan Calculator
         
  Estimated Sales Price of Home Prior to Repairs/Rehab Costs    
         
         
1 Total Cost of Repairs (Line 36, HUD-9746-A)    
  includes the improvements in A6 and REO Lead Based Paint Stabilization $    
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 uninhabitable $  
5 Sub-Total for Rehabilitation Escrow Account (Total of B1 thru B4) $    
6 Architectural and Engineering Fees (Exhibits) $    
7 Consultant Fees (including mileage, if applicable)    
  (_____ +___ miles @ ____/mile)(N/A for Steamlined (k)) $      
8 Permits $    
9 Other Fees (Explain in Remarks) $    
10 Sub-Total (Total of B5 thru B9) $    
11 Supplemental Origination Fee for both 203k and Limited (k)    
  (greater of $350 or 1.5% of B10) $ _____      
12 Discount Points on Repair Costs and Fees (B10 x %) $  
13 Sub-Total for Release at Closing      
  (Total of B6 thru B9 + B11 and B12) (Note 3) $      
14 Total Rehabilitation Cost (Total of B5 and B13 minus A6)  
  (Limited (k) can not exceed $35,000.) $
         
  Estimated Rate of Interest    
  Term of Loan    
  Down Payment Percentage (1-20) or Dollar Amount
  Loan Amount (Base and Rounded down to $50.00 Multiple Rounded -->
  Upfront FHA MIP Factor / Amount/ Loan Amount
 
  Principle & Interest Payment    
  Monthly Real Estate Taxes (Semi Annual Amount)  
  Monthly MIP  
  Home Owners Insurance (Annual Premium)  
  Total Estimated Payment    
  The following values are used to calculate the Required Escrows  
  Estimated Payment (Change this to match the "Estimated Total Payment")  
  Estimated Cost Per Inspection/Draw  
         
This calculator is not an offer for the extension of credit, its purpose only is to present the costs associated with a FHA 203K loan and estimate a proposed monthly payment. Additional APR disclosures are required. Request those if you are considering any mortgage loan.
http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4240.4/index.cfm

 

 

Questions, comments, or suggestions?
Please contact us:
American Midwest Mortgage Corp.
Telephone: 216-324-8113


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Tim Bradford an employee of American Midwest Mortgage Corp-- OHIO MB.803389/LO.007173 ---- NMLS CO.142066/LO.250013
6363 York Road #300, Parma Heights, Ohio 44130
  2010 American Midwest Mortgage Corporation. Privacy Policy

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