13.2.1.5 Modification to Form HUD-92580

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States

A. For those projects that are exempt from providing a cost certification, after substantial completion, the Regional Center or Satellite Office will issue a modified form HUD-92580, Determination of Maximum Insurable Mortgage, as illustrated below. Strikeouts are illustrated on lines 2 in the example below:

1.	(a) Original Mortgage Amount	$10,000,000
	(b thru e) are not applicable - Insert N/A or strike through
2.	Certified Actual Cost - Strike "Certified Actual Cost" and insert "Replacement Cost from Section G line 74"	$13,000,000
3.	Disallowed Cost (Insert N/A)	$N/A
4.	Recognized Actual Cost of Improvements (Sec. G line 74)	$13,000,000
5.	Land	$
6.	TOTAL LAND AND IMPROVEMENTS	$13,000,000
7.	Statutory Percentage of Total Cost (____% of item 6)	$N/A
8.	For Substantial Rehabilitation-Property Owned, enter the Lesser of:
	i. $____ existing Mortgage Indebtedness on (Land and Improvements to be Rehabilitated) or
	ii. An Amount Equal To % of the Fair Market Value $ of Land and Improvements
	Before (Repair or Rehabilitation)	$N/A
9.	TOTAL line 7 plus line 8, (if any)	$N/A
10.	Maximum Insurable Mortgage in Multiples of $100, (Item 1(a) or Item 6, whichever is the Lesser)	$10,000,000

NOTE: The Mortgage Credit staff should indicate on this Form that the project is exempt from cost certification due to the loan proceeds to actual cost being equal to or less than 80%. For this example, the actual percentage of the loan to cost is 77% ($10M/$13M).

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Chapter 13 Cost Certification 13.3 Types of Cost Certification

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B. Completion of the reverse side of this Form would be as follows:

Schedule 1 Schedule 2 – Disallowed Costs: Schedule 3 – Computation of Borrower’s Initial Equity Investment 1. Total Land and Improvements (line 6 above) 2. Less: Maximum Insurable Mortgage (line 10 above) 3. Borrower’s Initial Equity Investment	N/A
	N/A
	$13,000,000
	$10,000,000
	$3,000,000

Borrower’s Initial Equity Investment

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▸Contents — HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

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