h
Creating an FHA refinance file
Complete the following screens to process an FHA refinance loan:
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•
•
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FHA has multiple programs available for refinancing loans, each with specific guidelines
that govern the loan, such as the maximum allowable mortgage amounts, closing costs,
prepaid expenses, and MIP refunds.
Completing the Prospect and Borrower Information screens
Begin a refinance loan by completing the
On the
1
•
•
•
•
In the
2
except Cash-Out Refinances.
Entering the ZIP Code of the subject property automatically populates the
3
State
Click the Mtg Insurance button to complete the
4
Funding Fee
Point User Guide
Enter any additional comments in the
•
For information about using the
entering secondary income sources, and entering monthly housing
expenses, refer to
page 104.
•
For information about entering debts and obligations, refer to
Entering
liabilities, on page 108.
•
For information about entering real estate income, refer to
real estate
owned, on page 111.
•
For information about completing the
Premium/Funding Fee
insurance, on page 170.
•
For more information about the Technology Open to Approved
Lenders (TOTAL) Mortgage Scorecard and the Credit Alert Interactive
Voice Response system (CAIVR), go to www.hud.gov.
Borrower or Prospect Information screen
Loan Application
Good Faith Estimate
FHA Loan Underwriting and Transmittal Summary
•
For information about completing the FHA Loan Underwriting and
Transmittal Summary screen, refer to
Underwriting and Transmittal
•
For more information about processing FHA refinance loans, see
www.calyxsupport.com.
Borrower
(or
Prospect
Appraised value
Loan amount
Interest rate
Loan term
Purpose of Loan
section, select
fields.
dialog box.
Underwriter Comments
Related information
Monthly Income Calculator
Entering income and housing
expenses, on
Mortgage Insurance
dialog box, refer to
Calculating mortgage
Related information
Completing the FHA Loan
Summary, on page 176.
Prospect
or
Borrower Information
)
Information
screen select
No Cash-Out Refi
Mortgage Insurance Premium/
FHA loans
field.
,
Entering
screen.
FHA
and enter:
for all types of refinances
and
City
181