The second post in our help series is about a calculation error in Line 13 of Section B of the 203K Worksheet.
When you start working in the worksheet, you’ll notice that the “Sub-Total for Release at Closing” does not include all fields from line items B6 through B9 plus B11 and B12 as it should.
This is a very quick fix. The field in line 11 must be unlocked for the calculation to work properly. Here’s what you need to do:
- Scroll to section B. Rehabilitation and Other Allowable Costs.
- Insert a check into the lock box Next to Line item 11. Supplemental Origination Fee
- Remove the fee amount and then remove the check from the lock box.
That’s it. The calculation is now correct. If you want details and illustrations, visit the KB article # 0269 or call our support team at 800-342-2599.
Don’t miss next time when I’ll be talking about transfer taxes.