|
'-'� Form Aoo�oved
<br /> .��qf7� �-tt�.�� i3iZ /� �� 07.19No E7-R13v6
<br /> FHA M,OniG>:EE NO. � iHA
<br /> � ±�a� �,� � U.S.OEPART9EMTOFNOUiiSCaN011A8aV0EYEL0iYEAi �
<br /> ( � FEOEAAL!!O�S�aG ADuuiSTaI1C10Y �pSE
<br /> tJO.
<br /> � PROPEATY AD�PE55
<br /> , t STATEMENT OF APPRAIScD VALUE FOR ��$ jjp� ';�_.1 ��� Q �i�1C��
<br /> �. � A 1dORTGdGE TO BE INSURED UNDER Fdei�'�'�� ,�a
<br /> ' THE �iGT10NAl HOUSING ACT
<br /> ' u SEC.403;6� ❑ SEC.
<br /> i IAORiGAGEE 7.IADNTHLY EXPENSE ESTIMATE
<br /> i ESTIMATED VALUE , � F��e i��.... .. S
<br /> �OF PROPERiY. . . 5 '�•
<br /> '"Sn1�' �rist � — io.a.....�...5 ,
<br /> 1�" �f� � � .,C IRE� FOR INSURANCE Condo.Com.Evp. S
<br /> i 7� v� `�Y .�y_ � ; 't,� fdoin.LRepalrs $
<br /> IiiOY�u��.i SS���1�O3.1, � � � .. � _ Meat L Wilifies f `" t'.
<br /> � uil�t���A� �a�A �"Viig CC/MMI7MEN1 ' ESiIMATED�.
<br /> Iti�ed: � .- � i 19,=i ClO51NG j
<br /> i-
<br /> Er0lrei: ) . ( 19i 1_. COST. ...'. .S�
<br /> DEFINITION OF VALUE
<br /> The Fadera! 1lousing Cornmissiorter /ro, �.a(ued the aGooe idenli�ed property 'Aeplacement CoeP la nn ntlmuk o( 1he currmt cosl to reproduc the properN �
<br /> /ur mor.gaF¢insumnre purpner+in ehe nnuunl aquctfo(he eum oj[he est6nuled Including lend,Inbo�,�Ite survey nnd merketing e:yeme but excluding paymmu
<br /> urzluc oJprop¢rty pfua fF.e re:imnt�d dosing msL for prepald upenen auc6 ns inxn nnd lneuvenee and eloaing eoeb.
<br /> 1f lhe conuact pzlm of ihe property le cqual to or Iev than'Velue of P+opeRy',
<br /> FHA'a eftima�e of •l'alue' ("R�piac<m!nt CoeP In SMlon 213 or 220) doef end lhe buyer p9yl doeing coeU, a perl of lhe clming mfb�un be Included in
<br /> nol tl: a sala pdce, except u�hen the mortgage�to he Inmred under ee<tlon �e mongeGe. IF 7f3E CONTRACT PRICE OF 7HE PROPERTY[S TfORE
<br /> 235(p; does not InCka!e FHd �pproval of n purchaeer o(the property; nor TFiA\ 'VALUE OF PROPEATY' AYD THE IIUY'ER PAYS THE CLOSItiG
<br /> doee It Indtea:e Ihe anovnt c! an inaured morg�ge lhet would 6e app�oved. COSTS, THF.B[fYER IS PAYING A[ORE FOR:HE PROPERTY TH�N FHA'S
<br /> ESTIMATE OF[TS VALUE.
<br /> 'VdLGE GF YNOPSRI7' IS r3d'S ESTI\fATE OF TkIE VALUE OF THE The lew requlrea Lhel FHA moctgagon recelve a alalemmi.of'appreleed vatue'
<br /> PROPEhTY'. prloc b the �ale of ILe properiy. I!the eale�contrac+haa bnn �Igced before
<br /> "Clmtvg Cosb' !+ tSe FHd >3�a:e o(ihe eo�t of dadng a mongage loan an �ye moctgegor rettivn euch a �tatement, lhe coat�ac'.muat conlaln,or mu�l be
<br /> 1he property.TSne com oay ye paid Sy either the Luyer oc lhe aellee omended to Include,ihe(ollowing luoguage;
<br /> •I(.b. . . egce<d L4nt,. . . . Ihe puml aete�hall not be obllgeted lo
<br /> eomplele �he puerLaa< . . . or to Inair any penelty . .. unlna ILe
<br /> The masimum mortgage whkh rH.4 ea:tasuie b hucd on Ihe sum of Ihe vnlue eeller tns dellveced l0 1Le purchexc e wrltlen etatemen! fettlng
<br /> of Ihe properly plm LSe eatt�as cf cosimg co�tv CnCer tSose eMione af 1Ae �orth . . . ihe value of the pcoperty (aed�+�ue��a��i cmb)nol len
<br /> NnUonal Houiing .4t (auch as ':3 or 230) uhve Ihe maxlmur� monguge Wn� 5 . 7'he yurtLoaer :hell heve the arSvOege
<br /> amounl nm1 he 6ased on esP._-.a:�L x�la¢aeat wet, the"Value of Properly . . of proceeding allh. .,thh eoMeerl wtihout tey._-� to Ihe amoual
<br /> ahail be denmed m nean mplacrc: :t: !or mongage Wumntt purpmee.^ a(the...valuatioo'
<br /> A�VICE TO HOME BUYERS
<br /> A�CA\CE 7.1F?I=.�?5 • I.fake �> ia=cia rSm able. You pay lese In- you 6dleve 1Im10ullder le reaponslble, aek hUn In wrtting to eorrtct them.I(he
<br /> lece>t na3 iace you:Soae pald fo:x+o-r. ]oG�tSe lender N wdting at leaat feil� to do eo,notlty We HUD/FNA Field office In vritln�. Mmtlon We FHA
<br /> �0 daya b�•ore cs m3ular ye�nat :� ov:cti you intend lo meke en nd• �eu number �hown aLove. I[ In�pMlon �how� the hullder lo be a!(�ull, Ih<
<br /> vance pa}�pe FHA wlll lry to peuuade him lo meke mrreclloa u n�•a«. ooi,vo� mar ea
<br /> DELI\Rti r\i, ��1�.fENTS - >fo:_:?_a-co a:e due the Iiral Cuy of eacU able lo obtnln IegA rellct under the hullder9 werranty �nd whem a flniaurel
<br /> monLh ar.d �Sout Se mede ou or Lti`.c: tiaz data The lender mny meke n detM b Invaivcd Ihe FHA hae eulhodty lo provlde 1ln�neW evlatance tn
<br /> � I�te e4az3e c� b : avb tor eaeS Gci c:anT?aymml mare Ihen 16 deya <onnMlon wilh mnklug eanecllom. hlmt hullden teke pAde ln lhetr vork aoA
<br /> will meke Juetlliable eomctloo�. They cnnnot be'upeeted to car�nl dama8e
<br /> la:e. If you:a:�:or 30 daye to make a=a=or, a:to pxrform any alhet ag[ee �o�ed by ardlnnry wenz and leer or 6y yoor maintenancu littping L4e 6oue!
<br /> meot In the vo:tgage, your ]ender na-:c+rloee You could'oea your home, N Raod condltlon�Ihe ownec'e re�ponelbillry.
<br /> donage pouz cedt4 end prerev! por` oSnLvag :urtSex moxlgegn loan� lf
<br /> eztrmrdlaary drt�rteam pment Soc na�fag paymenb an lime, em yout E%ISTING PROPERTIES-Where lhe nppllenUon Involva an ul�tNg pcopaty
<br /> lender at once It pou ere lempora.�naSl<to eiake your pnymmb becnuae FHA meke� an epprubal to determine Ne property'e vulua An eppralaal dan
<br /> o[ Olnese, lov of Job. tic., your ]r�3c nay be ahie lo help you. A�k youc nol warvnnl Ihe eondllian of 1he pwperly. Polentlel buyece �houid anmine Ihe
<br /> Ie�derlaexplaL�FA�Iblo�bearan[epo�. YOUR CREDIT IS AN IMPOR- property eareful(y 6e[ore elgning a purcheee contract The FHA doa nol hnve
<br /> TANT ASSET; DON'T LOSE IT THROUGH NEGLECT. euthorlty to pfovlde �inanclal meleiance in connection wl�h makine �eeded rn
<br /> nelre except whae ILe loan te In�ured under Secllau 235. If Ihe Ioen le Insured
<br /> under SttYlon 295 eud eerlaue defecp whlch exlrted et 1he Hme af Ihe FHA commlL
<br /> menl �houid have been d�covered by 1he F79A,the FHA h�aa euWoAry to ovo- i
<br /> T(ORTGACE 1\SURA\CE PRE\(IL'>I-TueFHAcLargee amo�tgage 1Eeuxanm vide Manclnl nuLtmce �� eonnectfan with having the delecb maecmd. In '�
<br /> pramlum In the amoml of K of 19; a year on lhe ave[age outatandiug printlpe] euch eaeee you ehould uotlfy the loral H UO/FHA ofl!ce Immedlately upon db• '
<br /> obligatlon(or the pmzdlog 12 moau c!.hoW lnkfnginlo uaouot dellnquml pay- �overing We defects
<br /> menb ar papeyments 1/12 of t6e mor.dage Ineuraviceprtmlum due encS ytae 1a
<br /> callicted In Ihe bor.ocer'e manthly �or.3nRe yaymmt lo allow the lendet to ao- IF l'OU SELL -If you sell wh�e the mo[igage ezlata, Ihe buyer msy tlnunee
<br /> avmulate, ane mooLh pdor lo u'e pmmlum due dete,auflldml lunda to pny We aeveral weya, Vadenland how Nne artengcmmtf mny e!(M you. Comull
<br /> mortgage In�uranttprer�fum. yourlender.
<br /> 1. You may �ell for all ee�6 and psy oR your morlgage 7'hB<ad�your
<br /> llebWty.
<br /> TAXES, ASSESS�tESTS,A\'D ISSURAICE-Sendyourlmdec6llL foe ta:n, �• The buyer tan aeeume We motlgege end yay 0e dQfermtt 6eMeen lhe
<br /> , �peelal aseoeoenb, or fie Lvuzac�Y lhat<ome�o yaa 7'he llve Ineurantt Iha unpeld 6elnnee md the eeWng pdce In ca�h. If Ihe FHA end Ihe lendtt
<br /> lender requLn Sou N carry u+ua_S�oeen on�y Ihe balancx a(the lonn. C6eck are wllling to awept lhe buyer ee e mongagor,you can be rcleaud trom
<br /> Ihla wlth your lendu. You nay >'�h lo take out eddltlonel lnauraoce ao that fun5er Ln6Nty. Thls requiree ILe�pecllic approval af Ihe Imder eod�he
<br /> If the houe L da3uged you: loe� aW be covered e�well na t6e Iender'e. 1[ FHA.
<br /> your hoc�e !a CamagN bp G:e,wi�datolm, or other ceu�e,write your]ender nt IEITHER OF iHE ABOVE TWO MEiHODS IS PREFERABLE TO METNOD
<br /> . o¢m Tua fot Le mmlog S�az cun'1 ba known untll the blll� nre recelved. �`lUMBER 3.� .
<br /> I( they esceed tSe amouat accuavlakd from your yaSmen�,you w111 Ee mked OPERATI.�'C EXPEN9ES -In lhe heeding are FHA eetlmatet of manlhty<oela
<br /> ' lo pay ihe �'.^ermm II they em ]e�a, the dlffertna wlll be credtted lo yout a����� heat eed utllltln,Dro Nmrence,metntenence md cepefre. The tetlmated
<br /> nccount The ama 8 true of fixe Ineurance Some Stntu nitow homntead or ��cee wW protnb�yLave lo be edJueled when you mceive t6e ectu�l bIW. BEAR
<br /> vcterm'a ts< uemptlom. App�y for eoy ¢empllon ta whlch you mny be eo• �N MIND THA71N MOST COMMUNITIES TAXES AND OTHER OPERAT•
<br /> Ilfled. �Yhenit�approved,nouFyyourlender. ING COSTS AllE1NCREA5ING. T6e nllmatn �hould give eome ldea oI
<br /> CLOSING CO5T5-In ihe heading b FHA'e eetlmnte of nnticlpaled doelog ca�b� whut you ean acyai ilte toed b 6e at We heglnnlnB• In some areu FHA'�
<br /> euch ae Ieee for prepnrallon ot oorlgage laehummb, ettomeyro' fm, LLq!Ln• ntlmafe oI laxn mq e�o Include chergn such ei�twu che�ge�,g�e6age eolleo
<br /> �urantt, origWullou feca and daa:_^ientary etump taxe�. The cetlmate don aot �on fee�wattr rn10�NG
<br /> loclude chargn foraueh prepayoble L'ema¢e l�a,11re Ineurnnce. 3, q'he LuyTl' na pey lhe dLlertotc in enah nnd pwchnae�ubJect lo Ihe un•
<br /> NEN CONSTRllCTT0:1-R'hen Fgp appoovn plam nnd epeeNcetlou Cetom p��d aortgapDWnm.FHA or lendu npyroval b not nree��ary BUT YOU
<br /> co�etcuctlon, the bullder b requlred �o wavant �hat�e Louee eontaxme lo ap� REMAIN LIA�LE FOR THE DEBT. IF THE BUYER DEFAULTS, IT
<br /> pmved plane. 7LIa wnrranry I� tor 1 year(ollowing 1he date on whlch tltle la COUL� R?SULT IN A DEFICIENCY IUDGMENT AND IMPAIR
<br /> conveyed to 1he odglnnl buyer or tLe date on whtch the houae wm l4at accupled YOUR CRPDR iTANDING.
<br /> whichever occun fuae. If during the warcenry pedod yau mllce de!ecb(or whleh . -�
<br /> �`" � � , I: . . , i . i �. -.
<br /> AMOUNTTO BE BORROWED - ' �'�,� �,..:��.'� �.� �. .,.. ,.... .
<br /> \VFm you 6or.�ow to 6uy a home, you pay Inlernt nnd other cLarHe�wNe6 ndd b yaue w�L A Iurper down�
<br /> p�ymml wlll vuult In a amuller mangege Oorrow ae llttle ee you need ead �epny!n tbe ehaqnt�me.
<br /> FHp FOR�11l0. 20G0-5 Rav. G�73 SENOTOMOp1GnGECFOBD[LIVEIlYlO110MEL'UYEF
<br />
|