Get the free HUD FORM-92700 203KWORKSHEET - westloancom

HUD FORM-92700 203(K) WORKSHEET REFINANCETRANSACTION A1 Existing Liens for Refinance A2 Existing Liens for a Refinanced A3 Appraised Value A4 A3 X 110% A5 Good Faith Estimate B1 Contractors Bid/Appraisal

How to fill out hud form-92700 203kworksheet

How to fill out HUD Form-92700 203kWorksheet?

1. Start by carefully reading the instructions provided with the form. This will help you understand the purpose of the form and the information that needs to be filled in.
2. Begin by entering the necessary identifying information at the top of the form. This typically includes the borrower's name, the property address, and the lender's name.
3. Next, move on to Section A - Property Information. Here, you will provide details about the type of property being financed, such as whether it is a single-family home or a multi-unit property.
4. In Section B - Contractor Information, you will enter the name, address, and contact information of the contractor responsible for the repairs or renovations. You may also need to provide their license number.
5. Section C - Cost Estimates is where you will itemize the different costs involved in repairing or renovating the property. This might include labor, materials, permits, and other expenses. Be sure to provide accurate and detailed information for each cost item.
6. Proceed to Section D - Borrower's Acknowledgment. This is where the borrower acknowledges their understanding of the responsibilities and obligations associated with the 203k loan program. Read this section carefully before signing and dating it.
7. Finally, review the completed form for any errors or omissions before submitting it to the appropriate parties. Make sure all required fields are filled out accurately and completely.

Who needs HUD Form-92700 203kWorksheet?

1. Borrowers who are applying for a 203k loan from the Federal Housing Administration (FHA) will need to fill out the HUD Form-92700 203kWorksheet. This form is specifically designed for individuals seeking financing to purchase and rehabilitate properties.
2. Lenders and contractors involved in the 203k loan process may also need to refer to this form to understand the scope of repairs and renovations planned for the property.
3. The HUD Form-92700 203kWorksheet serves as a comprehensive document that helps ensure transparency and accountability in the 203k loan program. It is an essential tool for all parties involved in the financing and renovation process.

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