115 W MARILYN AVE 2018-01-02 MF Import

FmmApproved ' --. OMB No 63 RI 36L ' .' U.B. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT rn. e FEDERALHOUSING ADMINISTRATION CASE NO. _ r+" CON OMONAL COMMITMENT PROPERTYADDRESS n FOR MORTGAGE INSURANCE UNDER 115 ftr" THE NATIONAL HOUSING ACTss�_(y. ,r I..-C) ` j I SEC.203M nSEC. MORTGAGEE ESTIMATED VALUE 7• MONTHLY EXPENSE ESTIMATE OF PROPERTY .... S ' Fire Ins ........ $ COMMITTED FOR INSURANCE Taxes ......... S / Condo. Com. Esp.S jar Nw`sw compofty ! : Main&Repairs S MAbw COMMITMENT Heat&Utilities $ %O��z ae►L Issued �' 19 :'; ESTIMATED CLOSING +7�0 Fapi)bs ir% / 19 r1'J COST......... i t • ' --rt/ } ❑•EXISTING PROPOSED COMMITtF�rIS MAX.MOflT.AMT.s'�'t ��O NO.MOS a MA%.INTEREsi SefEi2a Ee9,/ U INFORMATION rmprpvea livm0 Area S0. Ft. The estimates of fire Insurance, taxes, maintenance/repairs, heat/utilities and closing costs are furnished for mortgagee's and mortgagor's Information, They may be used to prepare FHA Form 2900, Application for Credit Approval, when a firm commitment Is desired. GENERAL COMMITMENT 1. MAXIM UM MORTGAGE AMOUNT AND TERMS - (a) OCCUPANT MORTGAGORS:- the mortgage amount and term set forth in the heading are the maximum approved for this property assuming 4 sallafactory owner -occupant mortgagor. The maximum amount and term In the heading may be chnnged depending upon FHA'B rating of the borrower, his Income and credit. (b) NONOCCUPANTMORTGAGORS:- If the mortgagor does not occupy the house, the law limits the maximum mortgage amount to not exceed 86% of themaxlmum amount available to an eligible mortgagor who will occupy the house (85% of value if Sec. 203(1) or 221). In the case of nonoccupant mortgagors, the firm commit. ment when Issued will reduce the mortgage amount and terms be- low that stated In the heading. (c) COMMITMENT CHANGES:- The Commissioner may, upon re- quest of the approved mortgagee, change the mortgage amount and term set forth In the heading. If the application Is accompanied by a VA CRV, changes will be made only if VA Issues an amendment. 2. FIRM COMMITMENT: - A firm commitment to Insure a loan will be Issued upon recelpt of an Application for Credit Approval, FHA Form 2900, executed by an approved mortgagee and a borrower satisfactory to the Commissioner. 3. COMMITMENT TERM: - This commitment shall expire six MONTHS from the issue date In the caseof an EXISTING HOUSE or ONE YEAR from its date in the caseof PROPOSED CONSTRUC- TION. (FHA classifies all cases as either "FRISTING"or "PRa POSED* for the urposeofdetermining when acommilment expires. Accordingly, a house, even though still under construction, may be classified as an existing house if it tons not approved by FHA or VA prior to the beginning of construction.) 4. CANCELLATION: - This commitment may be cancelled after 60 days from the date of issuance If construction has not started, un- less the mortgagee has disbursed loan proceeds. 5. PROPERTY STANDARDS: -All construction, repairs, or alterations proposed in the application or on the drawings and specifications returned herewith, shallequal or exceedthe FHAMinlmum Proper- ty Standards. SPECIFIC COMMITMENT CONDITIONS (Applicable when checked) y, HEALTH AUTHORITY APPROVAL: -Execution of Form 2573 9. ASSURANCE OF COMPLETION: - Iftherequired mpnirsmnnot L1 by the .Health Authority Indicating approval of the water supply Cl be completed prior to submission of closing papers, a Form 2300 end/cr sewre- dirp--ad inalall[Rdon is required.(Approval by letter escrow lntheamounlof$ (or such additional amount or Health Authority Form may be used.) as the lender desires) may be Established ns the means to assure completion. 2. TERMITE CONTROL: -(a) EXISTING HOUSE-Furnishcerti- ❑ ncate from a recognized term its control operator th at the house and other structures within the legal boundaries of the property shows no evidence of active termite infestation. (b) PROPOSED CON- STRUCTION -Furnish onecopy of Termite Soil Treatment Guaran- tee FHA Form -2052. 3. PREFAHRICATOR'S CERTIFICATE: - Provide Prefabrication ❑ Certificate required by related Engineering Bulletin. 4. CARPET UNDERFLOORING: - Notice of subnnoring or finish ❑ flooring Installed tinder carpet shall be posted at a conspicuous ]motion within the dwelling. 5. SUBDIVISION REQUIREMENTS:Comply with Requirements 11 from Report dated for Subdivision. 6. BU ILDER'S WARRANTY: -The builder shall execute FHA Form ❑ 2544, Builder's Warranty. j,,PROPERTY INSPECTIONS; - A notice of construction status shall e given by Form 2289X, letter or telephone at the time Indicated a. Proposed Construction Cases: (1)❑ Notlficallon shall be given for all Proposed Construction Caws at least two work days before eg no 1 ring of con. struction" and as may be Instructed below. the ho tiding Is enclosed, structural framing completc, ly exposed and roughing -In orplumbing, heaiinguudcice trical work Instr.'led and visible. (3)❑pWhen construction completed and property ready foroccu. b.I REPA%y Notify FHA upon completion of required repairs. c..CERTIFICATE OF COMPLETION: A certificate stating that the mortgagee has examined the proposed or required repairs and that they have been salisfactoAy completed will be accepted. 8. VA INSPECTIONS: - Furnish a copy of a clear VA final report. 11 FHA FOAM N0, 2900.5 REV. 2/76 10. SELLER'S AGLEEMENT AND ESCROW FOR EXISTING ❑ PROPERTIES FINANCED UNDER SECTION 235-Section 518. This commitment Is Issued on the condition that if the mortgage Is to be Insured under Section 236, the seller will execute an agree- ment to reimburse HUD for expenses Incurred In repairing struc- tual or other defects with respect to the property being sold. The form of agreement shall be prescribed by the Secretary and a sel- ler who is not the occupant of the property will deposit 5 percent of the sales price In escrow with the mortgage In accordance with the terms of the agreement. 11. SECTION 223 ❑ This Commitment Is issued under Section —Pursuant to Section 223e. 12. SECTION 221(d)(2) ❑ The Maximum Insurable mortgage for a mortgagor otherlhan a displaced family presenting it Certificate of F.11gili ity,FHA•Form 3476, is $ 13. CODE ENFORCEMENT ❑ Submit a statement from Public. Aruba rity that the subject. property meets Code Requirements. If the mortgage encumbering the prop- erty is to be Insured under Section 221(d)(2) a code compliance Inspection is required. 14. REQUIRED CERTIFICATIONS. ❑ ❑Electrical ❑Healing []Roofing ❑Plumbing 15. EXPIRATION DATE: - The Total Value stated nbove is based ❑ on Veterans Administration Certifiention of Reasonable Value, case number dated Regardless of General Commitment Condition Number 3, above,• this commitment expires on 6 See s eclat r�ditions ��i�oC -��/�bc o or on attached sheet. SEND TO MORTGAGEE AFTER AUTHORIZED AGENT SIGNS