Change Date

September 15, 2004, Change 4

·   This section has been changed to create subsection lettering.

·   Subsection b has been changed to provide clarification of Item 19 of VA Form 26-6393.

·   Subsection d has been changed to reference “child” care instead of “dependant” care.

·   Links to documents have been included.  References to the http address have been removed.

a. General

In order to properly enter information on VA Form 26-6393, the underwriter must understand and apply the guidelines provided in the preceding sections of this chapter. 

Self-explanatory items are not discussed in this section. 

b. Section C, Estimated Monthly Shelter Expenses

Special instructions are listed in the following table.

Please note, item 19 of VA Form 26-6393 should be left blank.  Maintenance and utility costs are now figured at 14¢ per square foot and listed in item 20.

Item

Special Instructions

16

If taxes are expected to increase, use the increased amount.

17

Include the flood insurance premium for properties located in special flood hazard areas.

18

If special assessments are anticipated, use the anticipated amount.

20

Calculate maintenance and utility costs using 14¢ per square foot.

Example: a 1500 square foot home would have a combined maintenance and utility cost of $210 (1500sq X .14).

21

For condominiums or houses in a PUD (planned unit development), include the monthly amount of maintenance assessment payable to the homeowner’s association. 

If the assessment is less than the maximum provided in the covenants or master deed and it appears likely that the assessment will be insufficient for operation of the condominium or PUD, include the maximum amount the veteran could be charged.