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<br /> y( �NA MORTGAGEE NO, r - '• ..
<br /> � U.S.�FP�qT4EM701ry�CN�pUpe�,NOE�ELOPMEMI NO.��,` �� � � i 7 �r 1����
<br /> � ��'a��'� .'.. iEDEiIA �1�p�STNATION'. s .
<br /> j � STATE�ENT OF AFPRAISED ALUE FQR FROPER7Y ADORE55 �� �'.i�f
<br /> � A MORTGAGE TO BE INSUR� UNDER YI�6�_`�
<br /> � TME HATIONAL HOUSING ACT E��� h(����' � .��',
<br /> E ❑SEC.70�@) �SEC. l y
<br /> MOR1'GAGEE f
<br /> ESTIMATE OP VALUE AND EST MATE EXPlNSE
<br /> uosir+c osrs r ., F„� ��.. . .. : �
<br /> tl V �LUE OF PROPERTYS�� T„��,, ,,, s �
<br /> �7 y�7 3 Clasinp Coata . .. ...�.f / i � Main.B R�Poir� S
<br /> ��y TOTAL(For Mort�e�e �
<br /> � w�� �� �{ /vmnncePuroies . .s Heata,Utili�i�• S S
<br /> 3�I�q��r�� APp YEO FOR COMMIYME • CGMMITMENT �
<br /> � I�w�d� /- / �7 to73
<br /> f.1/Nr�111 ��� k, +� �
<br /> �'�1� � "� E�Pirat: J' � f �� !
<br /> D AL
<br /> l'hc Fedem( !lousing Commissioner has volued !he above identified "Replacemcat Cost�� fa on esUmate of the eurrcnt cost to reproducc
<br /> propmiy Jor moregoge insumnce purpuses in the amonn: shown. the pmperty induding lend, la6or, aite survey and morketing ex-
<br /> FHA'a estImate of "Velue" ("Replucemmt Coat"in Section 213 or penae but excluding paymen[s for prepa(d expeneee such es �axes
<br /> 220) doee not fls a auleu pdce, exttpt when the mortgege is m he and ineurenee ond closing costa.
<br /> inaured under aec[ion 235Q); docs not inAltete FHA approvel of a 1( [he contrnct prlce o(the property Ix aquel to or less (hen "Vulue
<br /> purcheaer o[ the ploperty; nor does ll tndlcate [he nmount o( on 1�- oC Property", e�� t}�e buyer pays closin� couts, e pert of the <I�,-
<br /> �ured martguge that would be app�oved. jng conts can be included in the mongage. IF THE CONTRACT
<br /> THE ESTIh;ATE OF VALUE AND CLOSING COSTS pHOVE }{pS PRICE OF THE PROPERTY IS MbRE THAN "VALUE OF PRO)�-
<br /> THREE PARYS: ERYY" AND THE BU7ER PAYS THE CLOSQiG COSTS, T�dE
<br /> "VALUL OF PROPERTY"IS FHA'S ESTIMATE OF 'IHE VALUE BUYER IS PAYING M(1RE FOR T}IE I+ROPERTY THAN FH{�S
<br /> OF TNE PROPERTY. ESTI6fATE OF ITS YALUE.
<br /> The lnw requires that FHA martgugora receive a stutement of "ap-
<br /> "ClostnC Conts" Is tbe FHA eettmnte oE the eost of closing a mort• praised vnlue" prior to the sale ot the pmperty. I! the sules con
<br /> gage lonn en the property. These costs muy be puiC by clther the trect Has Ixen signed be[ore .the mortgagor receives su.h e state-
<br /> 6uyer or the eeller. menl, thc contract muat conteln, or mmt be amended to include, the /
<br /> fotlowinp, Wnguoge; I /
<br /> "Totel (or Afortguge 7nsumnce Furponee" Sndudes both the vntue "It is..,ngreed thaq....the purcheaer shall not be obllgeted to
<br /> o( the property end eatlmeted elosing cos(s. The mezimum mortgege complete [be purthasm..o� (o incur any penelty...unless Ihc
<br /> :�•hich FHA can Insure is hnsed on this amount. Under tho3e sec- edler hos dcltvcred m the purchoser e written stetemenl
<br /> tions o[ lhe Notlonnl Housin� Act (such as 213 or 220) where the yelting (orth...the volue of lhe p.:,perty (exeluding closing I
<br /> nuzimum marlgege emount must be booed on ea4moled repla[ement tosts) not ]ess Ihnn S . The purchuscr shall
<br /> coc�, the "Value of praperty shell be deemed (o mean mplecement
<br /> have lhe privilege...�C pr�ceeding wl(h...this contrnct wi(h-
<br /> cas[ !or mortgege Insuronce purposes � ' out re atd ta ihe umowt o
<br /> R (Ihc...vnlualion."
<br /> ADVICE TO HOME BUYERS
<br /> .1DVANCE PAyMENTS-Meke extra peymenta when abic. You pay s�anp (axes. TEte rslimote docs not inelude thorgea [or such prepay-
<br /> Icss .nlereAt and hove your home pnid tor sooner. Notlfy the ]enAcr able items as taxes, CRe insurence.
<br /> �n wriiinQ ot leost 30 duys te[ore Ihe regutur puyment datc on w61ch
<br /> yau intend lo moke an ndvm�ce pe}•cicn[. BUILDER'S 0.'ARRANTY- When FHA epproves pluns and speci[icu-
<br /> tions be(ure cnnstmrtion, thc Guilder is required to wnrtant thal Ihe
<br /> DELtNQUENT PAYM1tENTS-Monlhty paymente ure due the tirst dny of house con(orm: to Fgp approced pluns. This warronty is for 1 yenr
<br /> �•:ich monih and shauld 6c made on or befarc thol datn 'fhe Iender folloa�ng the dele on whith title is comeyed to the odginol buycr or
<br /> mny meke a IDte chnrge up ca 2 cents [or eech da:lar o( nny payment the date on which ihehouee was(lra(ocwpied,whichever occurs [irst.
<br /> c:nrc than IS days ]ate. I(you fail for 30 dnys to make n puyment, or IE durin thc wartont
<br /> podom eny other ngreement 'n �Fe morlgnge, pour lender moy torc- g y Period yw r.otice detects ior which 3'ou believc
<br /> I closa You <ould lose your h:me, damngr your cmdit, nnd �vent �he 6uiider !s responsible� ask him in writing V. cortect them . If he
<br /> �our oblaining (urther morignge 'onns. I( extrnorui��iry cirums onecs �nlls to do so� notily ihe Ffl/4 �nsuring offiee in writing. Menlion the
<br /> I prcvr.nt your moking poymen!s �n t(me, c-e your ]ender cf ontc, �( FHAcase number shoa:n in the hendjng.I[inspectian shows lhebuilder
<br /> cmi are tempomrlly unable to make your puymen!s bacar�e �.i tllness, �o be nt fuulq the FHA wtll try to persuadc him to make correcHon.
<br /> I.,s^, of job, etc., yuur lendrr mcy be eble to hclo you. Ask ynur lender I( he docs nnt, you may seek legul relief mder the buildePs warmnty.
<br /> to explein PHA's (nrbeerence F���1cY• YOUR CREbIT 15 ;,N IMPOR• ti�ost builders Wke pride In their work end wlll m�ke justifinble correo-
<br /> TANT I.SSET; DON'T LOSG IT 'fHROUGH NEGLECT. ��a�s. They cunnat ue expected [o corcec[ dnmage ceused by orAineq�
<br /> wear and teor or by poor mointrnnnce. KeepinE Ihe house in good con-
<br /> ADJUSTED PREMIUAS CHARGE- If you moke exr.n poyments in any dition is the owner's rcsponsi6ility,
<br /> :cnr af mum lhan IS`le o( thr origino! mortgngc amountr )'ou may havc �
<br /> to PoY sn ndjusted yremium cherge. This chnr�e Ic 1 0 0! Ihe original �pT=RATa1G FXPENSES-in theheading are FHAcsttmntes o(monthly
<br /> rurtp,oge. FHA is authorized ro chorCe e p-emium of not Iess thnn y, costs o[ toaes� heat and ulilities� lire insuranee� maintennnc� and re-
<br /> nf 1�� no: mare lhnn 1% per yeeq 6ut hns sct the premium ut y� o(190 Poirs. Thc estimated flgures wlll pmbnbiy hnve [o bc udjusteA when
<br /> :issun.' �, it will F�e paid c::r the whole mortgage tc:m. R'hen n mort- You receive the ncWol titls. BEAR IN MIND THAT IN MOS( COM�
<br /> �;ngc is��uid of[in �dvanc_� the premiuns collected do not cover PH4 MUNITIES TAXES AND OTNER OPERATING CO5T5 ARE INCREAS•
<br /> co::t end nn udju�led ptemium is thntged to o((sel the ]osa, if Ihis �NG. The eslimnb�9 should give some iden o� w�hot )'oLL can expecl
<br /> NimBe wcre not nodc� thr premium woulA have lo bc Lighcr. An ad- the costs to bc at Ihc beginninR• I�� comc amns rHA'� estlmatc o(
<br /> justr.d premium is not mn[� i( a new FHA mortgage Is pinced on the �azes ma}• niso includc lowl charges auch us Sewer chargeci gnrbogc
<br /> praprrt7�� or if ihe PHq i�,curonee is in [ome for 30 years or longer. colle<Nan fee„ wnter rnles, ete.
<br /> 'CAXES, ASSESSMENTS, AND IIVSURANCE -Send your lcnder bilfs ir 1'OU S�LL- IC you sell while thc :nortgage exicta, thc buyTr may
<br /> �. for mres, spec�al nssessments, or fire ineura:ice th�l :ome t� ynu. ��nante seveml tvnys. Underst+nd how these artangements mny x[fect
<br /> The !ire insurnnce the Icnder nquims you to carry usually cavers Y°u. Consuti qour Icnder.
<br /> -�Il' Uir twlance of L:e ]oan. Check this «�itl�� ynur lender. You may 1. S'ou mny scll for ali cash nnd p�p o((your mort�ag^.. This ends
<br /> '�'ish t� tuke out additlonu] lnsutuntc �o thal i( the house is damagcd yonr ]iability.
<br /> I ;•��� lass will be covercd ut well as the Im.der's. I( your l:ome ]s 2• The buycr can assume the mott�,agr and pay Lhe difference be-
<br /> :Is�r�iged 6y fire, winds[ortn, or other cnuse, waite ya ,r Iender nt once. �"�een lhe unpnid ba7ance nnd the selling price in<:�sh. I( thc
<br /> 7':in�s for lhe comi�g yeor ca���� bc known un!il Ihe bil(c arc received. ' riiA and Ihe lender are tvilling to accept the 6uyer ns a morl-
<br /> I( thev excecd the amcunl aecumulnted (ram your paymenls� pou wi❑ � F�Cor� y�m can M releosed(rom further Iiabili(y, This requires
<br /> bc askcd to pay the d(f(eren.^e. I( lhey ate Icss, the d!(fercnce wi11 -���' specific approvnl af [he lender nnd (he FIiA.
<br /> be credited to your ac,:ounL The some is trde o[(ire insuranee. Some (LIT�:icR OF THE ABOVE 7W0 METHODS IS PREFhRA6LE TO
<br /> S:ates ollow homestcaJ or veternn's tux exemptions. Apply [or any MLTHOD NUMBER 3.) j
<br /> rzemptirn to which you may be entitled. R'hen it is npyro:ed� aoti(y
<br /> c�.ur lender. 3. The Snyer con pay thr dif(crence in cnsh and purthase su6jeet
<br /> lo tl:c anpaid mortgn�c bnlancc. FIiA or lendcr approvaf is mt
<br /> � �. :.OSING COSTS - In the hendln�, is Pf1A's estimnte of anticipated ro�ccssnq• [1UT YOU REMAIN LIABLE FOR THE �EBT. IF
<br /> 'i�r;ing cnst�, such ns fees (nr preparation o! mort�;a�e ins;niments� T 1E RUYER DEFAULTS� IT COULD RESULT IN A DEFI-'
<br /> .�uur.�eys' (ces� �itic insur.mcc, originauun lces and Jocumentaq• CISNCY JUDGMENT AND IMFAIR YOUR CREDIT STANDING.
<br /> TiiE CJST OF BORROWING
<br /> R'hen ym� 6orrow� to buy c� hame, yau pay intcrest and olher cha�ges for a 20-ycas merlgngc; hut in 30 pcare you pul' SS.77.^.•9Q ��r C�;
<br /> �chich adA to )'uur cosL A larger J��wnpayment lrill msult in a ::mallrr more inlcrest lh:in in ZU ycar.;.
<br /> mortgage. Dorrow us Iiltic ns pou need nnd repay in lhe short�st Thc tublr�: she�v the manthly pay:ncnts, intemst and morlgnge in:ur-
<br /> ti�uc. If �ou borrow$10,000 u. , ^o lhe monthlY P�Y����•nt to prin.'ip:ii :�nceCor sume typic:�l morq'r�ge': :it 7!i:�.T�xes and tire insur.mcc arc
<br /> a;:d in�crrst is E10.l0 less I�r a�30.ycar ��artg�ge Ihan it would be unt shnwn in 16e lables, allhaugh lhey :uc included in your mun�hlv
<br /> paymente.
<br /> MON'HLY PAYMENTS, PRINCIPAL C INTEREST, MORT. INS. PREMIUM, TOTAL INTEREST 8T10RT. INS. PREMIUMS PAID��7Si"=
<br /> _ — __ _
<br /> 510,070•MOPTGAGE � S15 000•MORTGAGE f20 000-MO
<br /> 'ie n p�'��.dln� I To�al � '- �� um .P. . 61nt. T �al �� � --- --� - --� -- -- RTGAGE __'
<br /> Mtg Ins P e Mt9 I s. P wm P� 81nt. Tetol (I M�p �ns. Premium
<br /> Mo. PoY� Inices� �M Pav�. To�ai I M . I'vN. I te�es• � Mo �'oY�. Toml � IA Part 1 IN esf i Mo. P y� To�al
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<br /> ?n��,.. I SB0.60 S 9,72I.d9 4d I1 ��- ._ . . --- .. -. . .- .-
<br /> SGi�A2 I EI]0.90 51398714 56.19 1g3715 i 5161.70 i5�86J7.98i bB.15 � 51,Yd2.B7
<br /> - •' 77.90 11164.A9 ! q.:y 871.]9 I 110.'�5 �. ,7i�.24 : G.71 ...... 1,2I6.a5 ld'.00 �
<br /> ' � 7d7e8.98 0_28 1,6�2c�
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