VA Loan Amount Worksheet - SunTrust

[Pages:1]Veterans Administration (VA) Loan Amount Worksheet ? Purchase Transaction

STEP 1

The Base Loan Amount

a)

_______________________ Lesser of Sales Price or Appraised Value

x 75%

b)

= _____________________

c)

+ _____________________ Available Entitlement

d)

= _____________________ Base Loan Amount*

* If the resulting "Base Loan Amount" is greater than the figure in (a), reduce your base loan amount to the lesser of the Sales Price or Appraise Value as shown in item (a)

STEP 2

The Final Loan Amount

e)

_______________________ Base Loan Amount

f)

+ _____________________ Funding Fee _____%

g)

= ____________________ Final Loan Amount

STEP 3

The Down Payment

h) i) j)

STEP 4

k) l) m) n) o)

______________________ Lesser of Sales Price or Appraised Value - _____________________ Base Loan Amount = _____________________ Down Payment

The Guaranty

_______________________ Available Entitlement + _____________________ Down Payment = ____________________ ? _____________________ Lesser of Sales Price or Appraised Value = _____________________% Percentage of Guaranty (cannot be less < 25%)

NOTE: Funding Fee can be included in the total loan amount up to the limit of $417,000 on a Non-Jumbo transaction. The VA Funding Fee can be added to base loan amounts $417,001 to $1,000,000 on a VA Jumbo transaction.

COR 0339 (03/08)

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