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      2404 Entering 3.5% down payment on the 203K Worksheet

      1. Go to Forms > Federal Housing Administration (FHA) > FHA 203(k) Worksheet.
      2. Scroll to section C. Mortgage Calculation for Purchase Transactions.
      3. Check the lock box next to line item 4. Mortgage Amount: Sum of C3...
      4. Enter the results from the following formula: Amount of line item C3 multiplied by 96.5%.

        In this example, it is 119,118 X 96.5% = 114,948.87

      2404-1

      Unfortunately, there is not a way to adjust the calculated amount in line item C5 Statutory Investment Required...