Get Fannie Mae Form 1035 2018-2026

Filling out the Fannie Mae Form 1035 online can streamline your application for a HomeStyle renovation mortgage. This guide will help users navigate the form with clear, step-by-step instructions to ensure that all necessary information is effectively provided.

Follow the steps to successfully complete your Fannie Mae Form 1035.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. In section A, enter your loan parameters. Specify the applicable loan-to-value (LTV) percentage and note that renovation costs cannot exceed 75% of the defined limits depending on whether it is a purchase or refinance transaction.
3. Proceed to section B, where you will include property information. Input the purchase price for a purchase transaction or first mortgage pay-off for refinancing, as well as the ‘As Completed’ appraised value after improvements.
4. In section C, detail all alterations, improvements, and repairs. Break down costs into hard costs, contingency reserves, fees for architects or consultants, inspections, title updates, permits, and a payment reserve for months not occupied.
5. Calculate the total of alterations, improvements, and repairs at the end of section C and ensure this total does not exceed the limits specified in section A.
6. Move to section D to determine the loan amount. Sum the purchase price and improvement costs, and compare this with the ‘As Completed’ appraised value, while also accounting for any financed private mortgage insurance.
7. In section E, fill out the details of the transaction including total costs, estimated prepaid items, and any closing costs or credits.
8. After completing all sections, review the information for accuracy before saving, downloading, printing, or sharing the form as required.

Get started with completing your documents online today.