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Click ‘Get Form’ to open the FHA Financing Addendum in our editor.
Begin by filling in the addendum number and dates at the top of the form. This ensures clarity regarding which contract you are referencing.
In the 'Loan Details' section, input the Mortgage Insurance Premium (MIP), Base Loan Amount, and Total Loan Amount. Specify the Loan Program, Term of Loan, and Initial Interest Rate as required.
Next, complete the 'Monthly Payment' section by detailing all components that will be included in your monthly payments to the lender.
Proceed to 'Loan Underwriting' and ensure you understand that any changes in interest rates may require additional documentation from you.
Fill out the 'FHA Amendatory Clause' with the appraised value of the property as per HUD/FHA requirements.
Complete sections on Mortgage Insurance, Termite Inspection, Lender Required Repairs, Certification, and FHA Required Notice as applicable.

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