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<br />�� FNA AfOHTG.IG::� N0. 1 �' fs �.�.i iL,,..w t:-.. '.:. ";/--.
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<br />�' . .. �` = � . _ 'LL 3. DCPApTAlrqi OF HOUSIHG qR0 Wtfl�.rl pE Vi.1.0]NENT FMA .. .
<br />� '__'"_'__ FCOCRAl110VSVIGAptqRi$iPAT10��. CA`F � � � .. . ,.� ��'� ;
<br />`STAT[Id'cNT OF APP'nAIS[D VALUE FOR PROPER7Y ADDRE55 r,o•---
<br />I A l�IOi,TGAG[ TO 6L INSURED UNDER ^
<br />I� THE- NATIOiIAL I10USING ACT � � �
<br />, ..... .._ �:;.......~v:_.;:
<br />�SEG 207(b) � 5[C,
<br />MORTGAG'c[ ___
<br />:'i.c'�.:':-�.,::..... :',;_ �a.y�'-.;'.'y:
<br />..�.,�..'i:.�_.. . ._..�.. ' .
<br />.._:CC!C, �. _.._,1;_J3 ��C.il
<br />Thc Frdcm! ucri _rn i iuN
<br />l/niising Cm:missinncr hus r�alned !6c abouc idcruificr7
<br />prnpc�ty �nr mongnr,e insurance p��rposes in thc rsmm�nt shoiun.
<br />FI1A's es�ima(c o( "Valne" ("iieplacement Cont"in Secliop $13 or
<br />22C) doc� not fix a sa!es price, except when thc mo:ten�c is :u 6e
<br />insured undcr scctian 235(j); docs not indica(c FHA approvat p( �
<br />purchascr o( thc prop;rty; nm docs i( inclica(c (��� n;�ount of an in-
<br />sumd moriC�f.e that would he approved,
<br />T21E ESTI;dATE OP VALUE AND CLOSING COSTS ADGVG Ijpg
<br />TIIREE PARTS �
<br />"VALUE OF Yi20PERTY" IS PgA'S pSTI}IATE OF THE VALUE I
<br />OP THE PFOPliRTS',
<br />"Closing Costc" is thc FFIA estimalc o( thc cost o[ closing a mort• I
<br />{;��e loan on thc property, These costs may Uc paid by either the
<br />buycr or thc scllcr,
<br />'�Total tor ;do:;��� e Insurancc PurPoses" includes both the value
<br />a( Ihe praperty and es(imated closin� eosts. The maximum mort�. ��
<br />�'�hich c}?q can insure.is based on this amounL Under those sec-
<br />tions of U�e Rational Flwsiny qct (euch ns 2�3 or 22p) where {��c
<br />maximur.i mortgagc omount mus[ bc 6ased on cstimalyd repin�emen[
<br />cost, the "VaWc of Property shall Uc dcemad ta mea�i rePlacenent
<br />cost for modgaEc insurance purposes'�
<br />%.UVASCE PAS",;�NTS-htoke extrn paymcnts when ��bic. You pay
<br />lcs� in(crest anJ havc pour honc paid for coo�cr. L:otify thc Icndrr
<br />in xritin� at least 30 diys bc[u:c thc rc;ular payment datc on which
<br />you intend to nakc an ndvanec payment.
<br />D�L?tiQUEXT r.:YJd_Cmg_•�_..�ht:' _, _^r,^ �,c dve ty^ F�•sf dn}, nf
<br />cach manth and syowd 6c made on or beforc that Jatc. Thc Icnder
<br />ma� make a late charge up to 2 cents (or each doliar uf any payment
<br />r.o:c than 15 days latm j( you (ail for 30 doys to make n payment, or
<br />to perCorsn pny otitec agreement in the mortrage, your len�er may lore-
<br />c!ose. you eould lose your home, dama; r. your emdit, and prevent
<br />)'our o6taini�g fur;Lcr mortgagc loans. If
<br />P:�'�cnt your ma};i�,�, payments on time, seet}oor1lender3a[�� nJce.�c1[
<br />you arc tc;iPo;a�ily unaule to make your paymen:� 6ec�usc of illne���
<br />loss of joU, ctc.� your Icndcr may bc ablc to hclp you. Ask yaur lrnder
<br />�o �-A1a�n FIiA'a jor�caraqtc po]icp. YOUR CREDIT IS AN I1dPOR-
<br />TA;IT ASSET; DON'T LOSE IT 7NROUGH pIEGLECT.
<br />ADJUSTED PPE;,IiU;,f CfiARGE - I( you makc ex(ra payments in any
<br />yc�r o( r.iorc Ihnn 1550 of thc ori���i mo:(p, gc nmount� you mny havc
<br />to p�y an nAjur,tcd pruraium dmq;c. Thi; churp,c is 1 a of thc original
<br />r.nortga�c. PIiA is autiiorized to ch�r�c , prcmium of not Ic;� Ih�n ';i
<br />of lie nor norc thar. 7% per �c�q Uut has ��t lhc p�emium at �/i o( I% �
<br />�ssuminp, it will bc paid uvcr thc whulc mongagc tcrm. lYhc:i n mort-
<br />{;:�;•c is paid o;J y� ������i, the premiumc collec�ed do not <over FFiA
<br />coy; and an adjusted premiun is chared to of(set ;}�e loss. If Ihi�
<br />cha,-g� werc not madc� the p,-emium woWd 7�ave to bc higher. An n�-
<br />ju.led prcr.�iu:a is no� madc (( n nem F}IA mortFagc i� p1aceJ on thc
<br />P�operty, or if thc FFIA incur�ncc is in Corcc for 10 ycars or longcr.
<br />7'AXSS, ASStiSS;;�;;TS, qhD L�15URAhCE - Send your Icnder bills
<br />. for t�xen, a,necial oase�smenL•:, or fire in:umner Ihat eome to you.
<br />'1'1» lirc in�:urancc lhc IcnJcr rcr�uirca you lo carry usuapy coverc
<br />uNy 1}��. L:�I�na.� at thr Imn. Chrck thi:: wilh ynur Icndcr. You muy
<br />v�i':h to lni:e ont uJJilion:il insurnnce .^,o lhnt if tL� hom:v ia d:imoged
<br />•.nut lu:.:. riill Le cuverr�l u:: �y��ll ua Ihe 1enAeP::
<br />qnm:q;td l�.v i:c. w' . 1f ynut huinc i::
<br />. � �iJ :tarm. or o�6rr c:nc:r
<br />� writc ymir IenJer ul nnce.
<br />'fnzcn �or Iha coit.r::: ^u:ir r.u��'t Li• I:nmm� uulil Lhc Lill:� .�n• rrcoit��-��.
<br />1( thr.y excrc:l IL•c :�:quunt accumuinted [:am yuur paymcuta, yuu will
<br />Lc osy,�:d to pay �c diffcrencc. Ii Ihcy orc Ic:::, lhc diffcrcncc will
<br />SW ecJa�lo��i�l��^�c�tnad11or vcloron'n�(nz ca,cmptiona,nApply�for riny �
<br />cr.c:nption tu wLich you n�y bc entiticd. l4hcn it ia approvcd� nutify
<br />your lender.
<br />CLO.",I,�G COS'fS - In thc hcadin� i� FIfA's r.otimatc ot anticipaled
<br />cloain;; coet�, ::uch a•: fve: for prepar�tion of morl�;��c in�truments�
<br />�tlomcys' fecs� titl,r incurancc� ori.inatlo
<br />L n fccc nnd documenbrty
<br />T ' -
<br />ES71GfATE OF Vl,LUc At�D
<br />CLOSING COS75
<br />VALUE OF PF20PERTY3 �r�. C,�/'�
<br />Clnein] Coarc . ... .... $ `ijt
<br />TOTAL lFor.:fmp;rsr.e
<br />lnv:.n•i�r 1'��.rn.�<..1.. $ �C.. .'.
<br />i_—'�
<br />APPi2UVED FOR COMMI7MEN7
<br />1dOr1TMLY E%PErISc
<br />ESTIMATE
<br />rn� i�.... .'
<br />• S_< %
<br />7o.es..... S_=„
<br />!Aoin.LRopairs $___�
<br />HvviEUril�res 5 �%
<br />�ilss�ed: 19
<br />trpiref: �q
<br />"Replacem�•nt CosP' is on estimate at the eurren( eost tu reproducr
<br />thc propert)' including Innd, labor, citc survcy and nark_ting cy.
<br />pense 6ut exeludinq Payment: fo: prepaid ezpensr.s sueF, os Wze-
<br />nnd i��urancc and cioaini. cusL^.
<br />IC lhc cuntract p��cc of (hr property is Cqua! to or Icss ��n "Valu�
<br />o( p�operty", nnd Ihc buycr pays closing tosts, a part of thc clos-
<br />in� cos(a can Le includeJ in ihe mortga� c. IP THE CORTRACT
<br />PRICE OF TIIE PROPEP.I'Y IS MORE TIiA11 "VALUE OF' pF:OP-
<br />�RTP�� nND 1'F1G BUYER PAyA THi: CLOSClG COSTS, 7FIE
<br />DU1'TP IS PAyING h70RE FOR fllE PROPcRTY �HAii FHA'S
<br />ESTIh1A7'E OF ITS VALUIi.
<br />Thc lnw requires that PIIA mor;gagers receivc a �(a(ement o: "ap�
<br />Prai�ed value" p�ior to the saie oC (}�e p�operty. 7( {�e sale. ecn-
<br />lratt hns bcen signcd be(orc lhc moR¢agor reccive. such a statc-
<br />ment, the canlmct mu:[ conWin, or must be omended to include, tne
<br />[ollowing languagc;
<br />"1t is...agrced thal,....the purc}»ser chatl not bc obliga(id to
<br />complete the purchasc...or to incur any penaley...uiless the
<br />�clier has d��(y�red to the purcha�cr a written slatcnen;
<br />setling forth...thc viluc oC thc property (exc7uCin� �:osing
<br />costs) not Icss than $
<br />havc thc • The pu:chascr sSall
<br />privilc�c...of ��occc�ing •.vj;h...t}�is <ontract w��n_
<br />out rega�d (o lhc amoun[ of thc...vnluation."
<br />1ME EUYcP,S
<br />�tamp lases. 7ne estima;e does not include charges foc cuch pre, ay-
<br />n��e ilcros ae ta>es, fire insurance.
<br />13UILDLR'S 1VARRA\TY- 1Cyen i•}In ap,:oves p;.y�; a�� Sp�cifica-
<br />lions Lefore eonslruclion, lhe builder is requimd Io n;�-��� �ha� �fe
<br />hm�se cnn(nrms to PHA nnprnved plans. ihis v:a:;ant; is for 1 Ycer
<br />follorvi:�g ihc datc o�i vq�icl� tidc is convc7cd m tn_ o:ii:ina! ���yi�r o:
<br />thc dntc on v;hich tnehousc was (i:st oceupicd, whicnc: c: occurs firsl.
<br />Ij durin{� (yc wartanly period you natice defeets for t•:hi:n :ou 6elievc
<br />lhe Uuilder is respo�sible, nsk him in writing [o ecr.ec: tce;a . IC he
<br />l�ilr, to do so� noti[y Ihc PileC insurini; o:(icc in �vritiag. iGcntioa Ihe
<br />PHA case numuer aho�vn in the Lcadjng, 7fia^pectio� �!�o•,��� �}�, builde:
<br />� to Uc at fault, ihc pqA will lry to persuadc hin [o n,-,ke eo:rcr,ion.
<br />1[ hc doc� noq you m�y scek Ic{;al rclicf undcr the b��ildzr'e. u•�;r�nty�.
<br />hlost buildcrs lakc pridc in thcir work nnd will makc justif::.y7i ��r,-ec-
<br />tion:. Thcy cannot br expected lo correct d�na,^c ec����� yy a:����.},
<br />«'car ond Icnr or by poor maintcna�cc. j�cc, ing tnc ho'�sc in good con-
<br />dition is Uic ou�ncr'� responsiUili(p,
<br />OPERATIJ7G TaPL•'NSES- In ihc heaciini, :irc FIiA c::tic.aL•- o: c.onthly '
<br />costt of L�xes, hc�f nnd nlilific::, fi:c insur:mcr. n:iin:r::anra :;nd re'
<br />pair.:. Thc c:timnlad ti.�uros rvili p:obablp h�v: to Sc ac;ue,�r,! �cSrn
<br />you rcecivc tlie aetu�l bills. DEAR IN .NI�O THA7 Iti AtOST COIA.
<br />MUNITIES TAXES A;ID OT4cR OPEP,ATING COSTS AR� �NCR'cA5-
<br />ING. The estimate: ahoulJ give sone iJca oC �e��� p�� �;�� �,�� �ct
<br />Ihc cosls to bc at thc beginniu�; In somc nrras T11i1:: c�[inatc af
<br />taxes m��y n��:o include loca! cLarges such as sewer e:iarges, �,�y,�„
<br />collec(ian (ecs� e:a�cr rates, ctc.
<br />iP YOU SI;LL - i( you scll wiiilc thc mor:l:agc exisC:, Ihc Luper may
<br />[inoncc scycrai wnyn, Undcrs{and how Ihesc arrnn�c;�incs mnp p(fccp
<br />yau. ConsWt your 1cmlcr.
<br />1. Ynu mny xcil Cor all cas}� nnd pay o(f }•our morti:aC�`. This cnds
<br />your liaUilily,
<br />2. �fhr buycr cnn nssltmc IhC mnr11:�JF :�r.d pap ILo di(irrcncc Lr'
<br />l�vccn tlm tmp�,iid Lnl:qiec �ind ILr ::rllin�� pri: r in :a..l�. I( Ihc
<br />1+1IA un�! Ihc 'rnJrr nro willi�:�: fu a:co��t �:i,� bi�o.�: .
<br />C:i„��. )'�.0 c.n� i�o:cica::.•d I�..�i ii��.::..� � ., i. :� me�l-
<br />tl�r spccific appr.i�•�I o( ti�c Icndcr and L'..e i'11:1. ... ,.�
<br />EITH[R OF TtiE AOpyE TlYO �11ETMODS IS PREFER.1SLtyTO'
<br />fETHOD NUhIBER 3,)
<br />3. TLc buycr cnn p�y lhc di(fcr.�ncc in cos!� nu:l ; ur:L.,:.:• scbj; ct I
<br />lo Ihc unpniJ murh,::q:r bnlanou. FIIA ur Irndor :ipp:or.�l �i uat
<br />necec:::�ry IIUT YOU FcAIAIN LIABLE FOR 7N:i p�;}7, Ip
<br />CIE�7CY JUDGDENT AND Ih1PACq 1'OUR G^�ED,T�S+:.U;i IrG, i
<br />hIL- COST Or UOj2R0141VG
<br />l4hen you Unrrow lo buY v Immc� you puy inlc�rrr:t :ind ulhcr chnrgc.; for n.0- '
<br />s'�hich ndd to your co::L A'argcr dow��puymrnl �vili rr.:ull ln n::m.illcr morc inl��rtr lrlh �nt�ii���� Uul in $0 yr.us you pap :9„7].•�J, o: i':-.
<br />mortC�t:c. iforrv:i :�r: IiLlc o•3 you nced nud repoy it� �Lc r.horlc::l ]'hr Ioblr.: ::Lo�v lLc monihlr:'. ��inrnP:, inlarv.t an,i :� :.:.�,-r �-. .r.r.
<br />timc. If yr,ii iir,:r�•�� i1G,Opp nl 7�/�:5 Ihc monlhly pnymriit lo ptinclpni Y I'• } .,,;
<br />unA inl^:c:l i•; n�me(or ^nmc IYPlcal mmlC•�� c�.: ni ','�..;.'I\�sc�; aml iu: m.u� �.
<br />$IO.GU Icca for n JO-ycar morlC��L'� ILun il rvmdd b, nnt :.hr�wn In lhc l�Llr.:, ulthnugh Ihcy .i�c inriud��.i ��� �,���r n„��n;l 1�.
<br />puymrnk:.
<br />1dON7HLY P/.`(ME1:T5, pRlllCIPAL 8 INT[R[57, fdORT. 11l5. PREIAlUA1, 70TAL INT[R[57 d MORT. INS PKE,�ut�,�i� p,�ip,, 7�..
<br />S10,G90-lAO;t'fLAGH 115,000-7dORTGAGE ��-----
<br />Tarm Piin.Llnr.l � Tmol _'—'—.... "'_'__'__._"__'___ S70,OCO.p10i2T�..\G:.'—'_.'—'—'
<br />�IAig.In�.Premimn Pdn.P.lnl. To�al A11G.Iro.P�einfvnr Pnn.Sln�.l.. T��ul �.
<br />lAo. Pay�. Intm�ii )Ao. Payt. loiol Idu. Payt. In�.real ldo. Payl. '(oi.�l �. .. .'.•�. f'�.•.:��v.i .'
<br />70 Yn. '0.:0 $ 9,321.6% S/.12 :L71.A1 _' _ _.__ __. __.___ _ -. _ .. AI�. Pav4 I.,i�•:r.r � Mn. r.,�r. � i..�.�.
<br />1; �• 3170.70 E1J,772.7.1 SG.19 S9J7.15 5161.10 •id,b.r:.s,�� .
<br />I %].50 11,1G7.A9 4.1.f pi1.17 110.05 1p,75.1."td ..: 51.7;:.: .
<br />,� ,� IS,Liq.7'1 4J 5 l,r y, 5.21 1,?IG.95 1:?.00 �'7J.dJ7.^d� 1 5
<br />, .. .___ �0. 1B lOi.OG 11,G41.5'I 5.'2 I.iui.4.I Il].00 57,Id;i.!�I ... •....,.
<br />., �.rv I/Ip L_____� _. �..,.
<br />541D 70NO:7;GAGEC I'.:�t UfLI\'!.::1-�:i I�..^,: :, .,
<br />
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