What amounts should be filled in on the Sales Contract in the financing paragraph, Item 4?
As the Guidebook instructs, the blanks in the FHA portion of the financing paragraph for down payment, loan amount and number of months of the loan are to be left blank or “TBD” may be inserted. If the house you are purchasing was listed “IE” for insured with escrow, you do fill in the amount of the repair escrow in the blank for that purpose. This amount is not considered as a part of your bid and is neither added nor subtracted from any of the numbers in the column on the right side of the page.
As the Guidebook instructs, the blanks in the FHA portion of the financing paragraph for down payment, loan amount and number of months of the loan are to be left blank or “TBD” may be inserted. If the house you are purchasing was listed “IE” for insured with escrow, you do fill in the amount of the repair escrow in the blank for that purpose. This number is neither added nor subtracted from any of the numbers in the column on the right side of the page.
