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MAXIMUM MORTGAGE CALCULATION LIMITED 203(k) PROGRAM REFINANCE TRANSACTION Properties Acquired Less Than 12 Months Prior to Case # Assignment Date Step 1: A. B. C. D. Step 2: A. Establishing Financeable
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The maximum mortgage calculation is usually limited to a certain percentage of the borrower's income.
Lenders or financial institutions are typically required to perform and report the maximum mortgage calculation limit.
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The purpose is to ensure that borrowers are not approved for mortgages that exceed their financial capacity.
The report must include the borrower's income, expenses, assets, liabilities, and the resulting maximum mortgage amount.
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