B. — HUD Multifamily Accelerated Processing (MAP)

			Section 223(a)(7)- Project Analysis - Mortgage Sizingand Sources and Use	Section 223(a)(7)- Project Analysis - Mortgage Sizingand Sources and Use	Section 223(a)(7)- Project Analysis - Mortgage Sizingand Sources and Use	Section 223(a)(7)- Project Analysis - Mortgage Sizingand Sources and Use	s Worksheet	s Worksheet	Page 1	Page 1
			To complete the worksheet,fill in onlythe blue cells.

	Project Name		Oak Tree Manor Apartments			Project #	123-45678
	Project City, ST		Springfield,MO			Name of Mortgagor	Oak Tree Manor LP
	Lender		FHA Capital Mortgage,Inc.

I.	Lowest Mortgage Amount of criteria 4,800,000 $					Requested Amount = Lower MtgbyChoi			ce

	1. Mortgage or Loan Amount Requested in Application					This is a manual input usually equal to the lowest of the three amounts below:			4,800,000 $
						Difference vs. request
	2. Original Principal Amount of Mortgage(s) to be refinanced					$200,000			5,000,000 $	M iddle
	5. Criterion 5. Amount Based on Debt Service Ratio (see calcu					lation 5. details below) $1,255,700			6,055,700 $ Highest 4,801,500 $ Lowest
									6,055,700 $
	10. Criterion 10. Amount Based on the cost of refinancing (see					calculation 10. details below) $1,500
									4,801,500 $

II.	Total Requirements for Settlement
		Uses- Mortgageable Amounts
		Current Unpaid Principal Balance of Existing Debt Total Prepayment Penalty Costs HUD approved debt to refinance via the A7 Critical repairs Non critical repairs Initial deposit to Reserve for Replacements				4,570,638 $ 137,119 $ - $ 25,000 $ 10,000 $ 12,000 $
		Fees Financing fees (excluding Title&Rec., Leg&Org.)* Title & Recording Legal & organizational Other permitted costs (a). Total Mortgageable Uses of Cash				- $ 112,800 $ 19,000 $ 4,000 $ - $ 4,890,557 $
		Sources
		FHA Mortgage Amount				4,800,000 $
		Discount Lender paid prepayment penalty c Grants & other sources to pay costs Purchased and Transferred Reserve (b). Total Sources of Cash		- $ Note: net proceeds to pay borrower costs: osts 48,000 $ 4,848,000 $ + de min lndr R4R de - $ s 41,000 $ 4,889,000 $
		Cash Requirement Calculation
		(c)=(a)-(b). Mortgageable Uses of c (d). Non-mortgageable: Assurance (e)=(c)+(d). Total Cash required		ash less Sources of Completion Escro	1,557 $ w 2,000 $ 3,557 $
III.	Payback calculations & change in intere*			st rate and maturity	date
	Refi'd Debt***			P&I/mo. $26,443	Transaction costs** $272,919 Divided by Annual P&I savings $53,565				Fin. Fees, pre-pmt penalties, T&R,
	New Mortgage			$21,979	Equals Payback Period (in years)			5.1	and legal fees.
	P&I savings (monthly)			$4,464	New 223(a)(7) interest rate:			4.250%
					Old interest rate:			5.375%
Annual P&I savings * Paybackperiod for is information only;it is not				Interest Rate reduction: Maturity extension (yrs.): aprogram requirement. ** Includes incremental costs to thirdparties not incurred o $53,565				1.125% 7.3 r incurrable under	existingoperation.
Chapter 18 - Section 223(a)(7)Project Analysis example Example derived from: Section 223a7 Mortgage Sizin								gand Sources and Us	es worksheet 9-24-15.xlsx

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Chapter 18 Section 223(a)(7) 18.4 Processing

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