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How do I determine the amount of net proceeds based on anticipated equity?

Anticipated Sales Proceeds

If the borrower’s currently owned home is listed for sale but has not been sold, the lender may qualify the borrower on the basis of anticipated sales proceeds.  The lender must document the actual proceeds received by the borrower. 

Determining the Amount of Net Proceeds

The following table describes how to determine the amount of net proceeds based on a borrower’s anticipated equity.

Sales Price Established? Net Proceeds Calculation
Yes Sales Price – (Sales Costs + All Liens) = Estimated Proceeds
No 90% of Listing Price – All Liens = Estimated Proceeds

Note: The 10% adjustment factor that is applied to the listing price must be changed depending on market conditions.

For additional information, see B3-4.3-10, Anticipated Sales Proceeds.

 

 

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