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<br /> � GcGEa>LIiL'JiIhGAL'n�taST?AiION' ���p � �
<br /> �TA'ic...��;'i O: AP�n:.1;-D VALUc FOR PnCPE Y ADJ?.ZSS . _--�
<br /> Ar,lO;'iGAG'cTCGcL•;�U:'cDU\D�2 f��e.�- �., _ .... ..
<br /> 7��� I�:.il: ::l._ 'r'.OUSI::G :�.C7 ... ... . . � . . ...�.;;:1:: . . ,.. "
<br /> ❑ssc.zc:,�s, �; ==�.-----
<br /> . ,.`.��"-- ---- c GST;:t:\'1�_ UF VALU;: AND �_—A�ONiMLY E%P�N;"c
<br /> 9 E5T4AAT[
<br /> y CLOS;\G COS7S F„� i�.. . . . s
<br /> {�VALU� 0� PROPERTYS ' To.�s. . . . . 5
<br /> .. � � �. . .�. .�� �y ..... . . � jClo.in] Co.�: . . . . ....5 Main.GRepain 5_ _
<br /> . �7OTAL !Fcr;./un�;n,-: �
<br /> /csur,icccP�:�asc�1.�3 __" _"!Mco�6U�ill�ies S
<br /> . .. _'
<br /> ' �.�..'.�,......_... "_:...:��...�...
<br /> AP?n^OVED FOn CJ,MIAITlAENT COAtMI71dENT
<br /> �
<br /> Issoed: 19 -
<br /> __ . . . . . . . • . ..... � ,..�..�.��,.. .Eapires: 19
<br /> . SJcP:\!"iiC�� Or V:.LUE�W� '
<br /> Ti:r. Fcdcval /fousin� Cn.autissinr.cr l;as ra!ucd :J.c aLovc idcr.::(icd "::apl�cencat CcsY' is an estiaatc of tnc cu:rent cost to rop:uc.ucc
<br /> ; p:m�ar:p J�r ctorlo¢gr ir.sur,:r.ce purpo:es ir. !he an:o::r.: sl:o:ur.. � :ne proper:y i�cicding Lmd� Iaboq si[e sun•ey and marketieG ex-
<br /> Fil:.'� �`a.ir.�c e oC "l'aleerr ("a eplace:aci( Co�.":a Sac(ioa 213 e: P���e tet exciudin� paymens Ict prepaid expenees sucli ax loses
<br /> 2:0) cocs not,fi� a s,los pricc, c;xept whc; ;i:c r..o:(„a;c °s to bc �nd iasur�ncc nnd clozing c'�:�.:.
<br /> i::scred vaCe: soctio� '135(1); does not ir.iica:e ?};� approval oi a lf C:e con::att pr:ce of t'.-. - :ty is equal to or Iess tl�a� 'ryalue
<br /> per.hasc: of [hc pro,c:./; nor docs it indic�tc thc a:accnt o: a� iv a( p;o�r.:y", and thc P."c_ �. �';. closing cnsL^, a part of thc clos-
<br /> su:ed u.o::;agc th�t �:'ovld be npp:ovcd. ing costs can Fc indmled �in�lhe mortgage. IP TiIE ^OSTRdCT
<br /> i'ti: �5:]`::�TE O: VniU: A\D CLOSiSG CO3:3 .4BOV: iinS F'��iCE OF T'IE P:iOPi:FTY IS \10RE TFiA\ "VAI,UE OF PROP-
<br /> � Ti:��:i PitR'�5: ESTY" ASD TFIE IIU1'cR PAYS THE CLOSLCG COSTS� TH:
<br /> "V�L'JE G? �:O?i?RT't"i3 FIIA'S 'cSTI.liATE O: TF:E VnLtiE IIUYL•'P IS PAYISG h10RF'i F03 Ti1E PFOPEi2TY THA\ F}�.�'S
<br /> O:+ 3::: P:O?fiRTY. �STI>:i+TE Or ITS VALUL.
<br /> The law requires that FkiA mortC�Cors teceivc a slatcment o( "ap-
<br /> � j`Ciosin� Cos:s" is tnc FAi� cstinatc nf the eost oi tlosin; a mor;- p��i:ed vslue" prior to ;hc salc of (he property. If ILe ::.I.rs toa-
<br /> a�e ]o:� on t'ne proper:y, These tosts nc�y be p�id hy ciV.cr i:�c �:��t h�s been si�ned bc:ore .the norl�a�or reteives ^.uch a s•ate-
<br /> acyu o: :cc :cllcr, nent, thc <ootr�c[ nust eontain� or nust be amended to includc, 'hc
<br /> [ollow'u:C Iangnagc;
<br /> "To:al fo: ;dor:��,� 7nsu:ar.ec Punoses" Incicces ho;;i the vaiue "It is...agrced lh�tr••••�he pureh�scr shall not be obiigated ;o
<br /> oi ;he pmperty and estin:,(c3 clocing costs. T.`.e r..�ximum mo:IC�C� Complete the purchase...or to incur any penalty..mNess the
<br /> which FF::I cnn insnr•e�is based on this nr..ounL Unde: tnnse sec- sclier has dciivered to [he purchoscr a writlen sta[enen.
<br /> tions of t:�e \ntion:.l i3ousir.� det (such as 213 or 220) w}��re the sMtin� lorth...the value of the property (excludinC closio�
<br /> naxicw:n ncrtga�c ar..uunt must be Snceti oa eslin�led replater..ent cosK) not Icsa lhan S . The purchascr shall
<br /> cost, the "V�lue of Pro.crty sh:+ll be decmed to r.iean repincenent h�ve lhe privilcee...af proeecdin� w�(h...this tontratt with-
<br /> cost for qo:tgage insu:�nce purposes '� +
<br /> out regard to thc amount oC thc...valoation."
<br /> ADVICc TO H0�4E dUYERS �
<br /> ADVA:iC: PA�Y�?\Ti-:Jake e::tra po}'nents �rhea aUle. You pay stam, t.xes. The eetim:.te does not inriude chuyes [or sueh prepop- !
<br /> less i�tora�t �nd h���c y_ar home paid for saonr.. \oti(y ihe lender a61c items as Wxes, tirc insurnnee.
<br /> i: �v:iti�r at Ieaat 30 days he:ore the regular pay�ent d:rte ca which �UILUER'S 4;AR:iAS1'Y- 17hen FAA a uoces I ns and s eeifica-
<br /> ;;on in;crC to nokc :n �dvancc pcy-�c�L � tions beCo:c construction, thc buiidcr isPtcquitadPto warrant�thct lhc
<br /> D::.I.`:QD3\T Pl.�J:P\TS-Liocti�ly paynents arc dcc the [i:�:'day e( housc eonCorns to FNA approved plans. This warranl� is for I ycar
<br /> caeh r..oaE: ar.d snou:d 6c n�Ce on o: SeCo:e tha[ d�te. ":Yc Ie�de: (o:lo•.ving the d�le oa which titie is conve�'ed to the ori�inal buycr or
<br /> nny r.��l<c a late ci�:r�e up to ^ tents fcr each dul:ar o( any payment the date on whic}� thchouse was lirst oec�-.ied,whichever occurs Orst.
<br /> r.�orc tF.an 15 days la[c. ]F you fail for 30 d�ys to ma;;c a pay�:c�t, o: If durLi� Ihc warranty period you naticc det�cts for which you hclic�•c
<br /> to p:dom eny e;i:er a�:eemta: in the T:o:.�a�e, yov: Iender noy Co:o- �he uuilder is responsible, asR hin in writinE to torrcet then . I( he
<br /> clocc. 'fon couid ]osc you: hcnc, damngc yocr creCi;, anC prevcat f:�;; ro do so, m:if thc Fild insurin o[(iec in writin . 11c�tion lha
<br /> yaar eS::�iaEa� icr;ne: nort�age loans. I: ex.rao:di�.a:y cir<enst�nces gFIA case nunber showa in the hecdin�If inspec[ion shows the buildr.
<br /> p:cve�c yccr nal:in� �ayr..cats o� fime� see yoc: :eider a( once. IC to be at Cault� the FFW will try to p vsuade him to make tarrectio�. I
<br /> you cra .or..po:aril}' unable to atal:c yoar pnyr.,cr.ts bc:cusc oC ill�c�s� it hc docs aot, you nay scek leyal rclief unde: thc 6uilder's w•ar.ant�.
<br /> loc� oi joS, c:c.. yonr icr.ccr:�ay bc aUlc :o ncl�you. Ask }'our lc:d,.: ;;ost buildcrs t�kc p,-idc in ihcir work and will m�kc justi(iablc cor.eo �
<br /> :o r.:?:oir. :+_1:1's .or'oc�rancc �olicy. YCUS CR'D17 15 A� IS7PO.i-
<br /> 'i.'.::'i :.55_i; DO?Y"i LOS= IT 'i;:ZCUG;-; \cGL'cC7. �ions, Thcy ca�not be expected to correet dama�e caused by ordin,-r.y �
<br /> ` wear and :ear o:by poor mainu nce. $ecpin�tFe house in gcod con- '
<br /> AD USZED ?23:.i:U:.i CHAFGL-IF ou na::c exVa � � �,
<br /> J }• p.y�e�L- in any dition is the owner's responsi: I
<br /> y�;,; oi cm�a ti:ar, i5'7 ot liie o:igiaal rortga�e nr.ucnt, you r..:;y i:��c OPiPdTL\G ES2G\SES- In lhche�din+ VeFFi:lestim:+les of monthl�
<br /> to ;�y :a adjua,ed p:mnium char�c. Tnis cha:gu is 1`; of thc o:igir.al �' �
<br /> r.iul;;�^c. ?�?I:1 i� auCio:ized [o cn�:gc a promium of not Ic�s th�n �� costs oC toses� heat and utilities� firc insuranee, mointen�cte .nd re• �
<br /> o: 1%> nor mem chan lio Pet ycnr, Uut Ims set ti1c prcniu:� at �/ of 1`S �'"'rs. The estinated fiC.ures will pro6ahly h�ve to be aAjusted �vhen I�
<br /> �.:ccaia; i: will bc paid ovr. Ihc wholc nort�a�c tcrm. Whc� a morb Y°p «tcivc thc acWal bills. BEAR IN S11ND l'HAT IN h105T COl�•��
<br /> C��c is pnid otC i� ,dvanco, the p:enicme coltec;ed do no: eove: PtG� 1�4UNIT1'eS TAXES AND OTHER OPERATI4G COSTS�.4RE INCncAS•�
<br /> co�; ar.d a: aCjuated pramium is eh�ryed to ofiset thc loss. IC this �"G. Tne eetimote; should �ive sone �dea o( whit yau ean ex,ec,
<br /> cSaa;e �vere not made, the premium would have to Se nigSer. :,n ad- �he eosU to be at the beglnninC• In eome arcas FH.\'s estin�te o(��,
<br /> jcs;ed premicm is not made i[ a neei P:IA norF��;e is pinced on :he �axes nay also include locaf char�es such as sewer ehar�es, garbagc�
<br /> ,vnert�, or if thc FFIA insur�nte is i� foree [or 10 collection fees� wa[er r�tes, Mt.
<br /> 1 yc�rc or ion�cr.
<br /> �CHS, :\SSESS.•.:3?i35, AXD L\SURdNCE -Send you: lendcr bilfs ir y0U SELL • If yoc sdl while. the morlgage exists, the buycr r..n�
<br /> [o: t�ses, :JeeiT. asse�sr..en;s, or fi:e ir.suraaee tSa: co:ne to you. finar.te �evemi ways. Understand how these arrangenents may aCfec:
<br /> TSe :i:c iasu:ante :ie lender re^,ui:rs 1'ou to ca:ry usca:ty eovers You. ConsuLt Your lendr.. -
<br /> e-;;• t:ir balanee of �he lo�n. Check ihis wiCi you Ieede:. You r..ay 1. Y"ou may sell for all cash�nd pay oCC your mort�age. This enC;
<br /> v:io4 tu ta:a ou: additioaal insc::;qcc so :at :.` •S^ Sc.,:v_ �s dor..:�+ed Your linUility.
<br /> � ' ' . ' � " `- .. T�c bn•,•er eaa assume the nort�:.�e and pay the diCference b:�
<br /> •�ou: ocs tvill Sc co:r.c3 ns a�cll a� thc Icu.c:'.,. li you: hor..c is •vicen thc un oid balanec and thc scilin- ice ir. : - �: •'-�
<br /> d:.r.:a;:d Uy :i:c, wi�dsto:n, o: o:hcr causq w:i;c }•ou: Icadcr at o�cc. a �, v: ""�• • ...
<br /> a ior t::c cor.;ir.g y:�:can't bc kamcn ectil t!:o bills a:c :eceiveC. FdA and lhe Iender are willin� to accep[ t ic buyer as a :�cr'�
<br /> � gago:, you can bc reteased (rom further liah,ley, This reGai:•
<br /> ii.ci:r: r.:ceed the ar.:cuct accer.�u.ated f:on you: pa;,-oa;o, you �:ill i�e speei[ie approval of the Iender and the ?�'}:A.
<br /> Se a�::_d :o yny tnc diiia:c.-..a IC ::�c� n:e ]ess, :hc dific:ence wili
<br /> bc ec_c�;od m you::.cccc.-,t. '.hc s�-c is tn:c o:fi:e iosu:ar.cc. Socic I�17h:'eF OP THE ASOVE TWO h;:THODS IS PREFERABLE ��
<br /> S:a:es o:!ov: "cr..es;ead o: vNe:a�'s :ax exemntio:.a. .4?plp :o: any. •M=!NOD NU7A3ER 3.)
<br /> •ec:n;iun ;o v:Sici� you smy Se enti;led. {4'hea i: is anp:oved, r.o:i:y 3. Tne buyer ean pa}• the differenee in cash and purchise scS;���
<br /> yo�.:r :oa.3�:. to Ihc cnpaid r..ort,^,agc baWncc. rHA or lendcr approval is '
<br /> CLGS[::G CGS.S - In ti:c hcadi7g is r?!�1's c�tir.atc of n�ticipated necessory BUT YOU REM,AIN LIABLE FOR THe" Dc37. �
<br /> tlo::i:-� cc�;s, sctS as fces for pmpua:ion of no::g:.yc instrur..c�;s� 7HE BUYER DEFAULTS, 17 COULD RESULT M A. 0`-:''
<br /> a;toraa7s' ;ecs� ;itle insu:a-cc, o::gine;ion ice� :.nd Locer..eaW:y CIcNCY JUDGMcN7 AND IhiPpin YOUB CncD1T STA\✓C�-�
<br /> 7Hc COST Or 30RB01VING
<br /> ':.en you bo::o:v to bu� a home, you P�'! +%��rest �nC o:ier c::argor fu: a �0-pear mo:tgage; but in 30 years you pay 55,77'_'.90, or �= �
<br /> I •,v;�ich cdd to ywt coa,..1 1:: c:do�.vn,ayacct will rcoc:: ir. a sr..allcr morc inlcrest th�n in ?0 ymrs.
<br /> s'�c::^a'.::. uu:rov: as :i;:icycs you nced and re?a� ia :ho stortest The tau:es snow Ihe nonlhly �apmen:sr inte:est and nortr,�ge in<=�'
<br /> ti:ac. ii yc.� So::o�,v$30,OJ0 at 7;;`,S tho r..c�t:ily payr..cat eo p:i�cipol ance[o:cune tYpical mort�ages �: i!i e.�axes and Cire i�surant�• :,:'
<br /> a»d in;o.a::: ia 510.�0 Icac ior a 30-�ca: nu:t�agc ;L�n it wuuid 'oc not siio:•:n in thc tablcs� altl�ough thcy arc incluJcd in your r.w���•��1
<br /> pny;icnl..
<br /> � i n �.ni-� _- � c n�in
<br /> J J:;7i:L': . ...��,_,�I�5, r^I:�CIi AL .. IN'i EP.CS7, }:CRI�. ItiS. P..".,�Uld, TOTAL It1T`cREST E 1,1OR7. IHS. PRS1dIU)dS PAID�?7'"r.�
<br /> ; i Si0,C0:.�'..J.:Ti�.\G= I S75�Ci.d.�{O.�TGAGE I 320.00J-!,IOn�GAG�
<br /> � � � �. � 1 i ciol I ' �t ins r. .. ti: Prin..°.Int. i Taiul i �ry. In:. Picmivm Pnn.E In�. Toial Niq. In:. P c
<br /> . . � r� I � �•�^•1 'i.�. I �� '. I . ,. P���. I Inl�r�J ! ��il i m J A1n. Pa/t. Int•�.:1 lAo. Pnyr �
<br /> i I . i .^ . � '�•1.. / � si.l_ � �_I.:7 ,:Cp.hll I SIJ,b�I. 1 ..�.i/ S1.V.li 51'I.'!p :II„�,IL'/I :'I.%5 .I, '
<br /> � i..:J 1:,;:�9...v I :.1.I 1111.:) 110.I, I 1L,:...1.1.f L=1 1,'tll,./5 IA/.I:O 7.1,9.w.'l,? U.I,I t,, ..
<br /> i .,
<br /> . . � ., ., . I�,.J '.•� i :.1•, ; ,',,,.,.:.� I lir.,un I 'l,L.li.. ! !,.'Ji I/•q9.id 110:10 ( 7��,I:.J'. ^.:9 '
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<br /> . . 'Jr14 IV .U�i IqAtJ'1 f�il, Ieiil � f 1': . . . .
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