3 Option Refinance Comparison
Analysis Prepared for: Property Expenses   Annual   Monthly
Real Estate Taxes    
Subject Property: Insurance    
Monthly Fee    
Current Property Value: Other    
Total    
EXISTING & PROPOSED 1ST LOAN TERMS
EXISTING & PROPOSED 2ND LOAN TERMS
Total Mo. Payments - 1st, 2nd & MI
  =
 
 
Total Monthly Expenses
  +
 
 
Total Monthly Payment w/Expenses
  =
 
 
Monthly Savings vs. Current Loan
    =
 
 
Weighted Average Interest Rate
+
 
 
CLOSING COSTS for 1ST LOAN
CLOSING COSTS for 2ND LOAN
CASH TO CLOSE OR LOAN PROCEEDS
ANNUAL PERCENTAGE RATE
RESULTS
1ST LOAN PRE-PAYMENT ANALYSIS
2ND LOAN PRE-PAYMENT ANALYSIS
TOTAL PAYMENTS, COSTS & NET BENEFIT
QUALIFICATION


Refinance Comparison - Summary & Report

LOAN BALANCE CALCULATION
Enter the current and starting dates to calculate your balance
Original Loan Balance
Original Loan Term
Current Interest Rate
Current Month and Year
Starting Month and Year
Starting Month and Year
Principal Paid to date
 
Calculated Balance - Click box to use
WEIGHTED AVERAGE RATES
Current Loans Loan Amount Rate Annual Interest
1st Mortgage Loan
2nd Mortgage Loan
Total Loan Amount
Weighted Average Rate Equals
Loan Option 1 Loan Amount Rate Annual Interest
1st Mortgage Loan
2nd Mortgage Loan
Total Loan Amount
Weighted Average Rate Equals
Loan Option 2 Loan Amount Rate Annual Interest
1st Mortgage Loan
2nd Mortgage Loan
Total Loan Amount
Weighted Average Rate Equals
Loan Option 3 Loan Amount Rate Annual Interest
1st Mortgage Loan
2nd Mortgage Loan
Total Loan Amount
Weighted Average Rate Equals
INCOME CALCULATION
To qualify, borrowers must demonstrate sufficient and usable regular monthly income for the program requirements
Employment Notes:
Income for Borrower 1 Income for Borrower 2
Enter an annual salary or use the calculator sections for periodic, overtime, bonus, commission, rental income, etc.
Annual Salary
Click Box to Include this Income Monthly =
Annual Salary
Click Box to Include this Income Monthly =
INCOME CALCULATORS
Additional Income From 2nd Source or Additional Borrowers
Income Calculators for 2nd Source or Additional Borrowers
Total Annual =
Click to use this income
TOTAL ASSETS CALCULATION
To qualify, you must demonstrate the availability of the needed liquid funds to close and sufficient reserve funds for the program to be used
If applicable, calculate the Net Proceeds from the sale of an existing home in this section:
Enter Sales Price
Commission @
=
Transfer Taxes/Expenses @
=
Payoff balance on 1st Mortgage Loan
Payoff balance on 2nd Mortgage Loan/HELOC
Payoff balance on any other loans or liens
Total of all balances & expenses
=
Net Proceeds from Sale (Enter in liquid assets)
Liquid Asset Notes: Reserve Asset Notes:
Liquid Assets available for the transaction
Reserve Funds that will not be used for the transaction
Checking / Savings 1
Checking / Savings 2
Checking / Savings 3
Checking / Savings 4
Retirement calculated at 60% and Brokerage at 70%
x =
x =
x =
Total Liquid Assets Available
Retirement x =
Retirement x =
Brokerage x =
Brokerage x =
Brokerage x =
x =
x =
x =
x =
x =
x =
x =
x =
x =
x =
x =
x =
Total Reserve Funds
Asset Qualification Option 1 Option 2 Option 3
Required Cash to Close
Liquid Assets Available
Surplus or (-)shortfall
Months of Required Reserves
Reserve Amount Needed
Remaining Liquid less Reserves Needed
Reserves Avalable
Excess Reserves
TOTAL DEBTS
Debt Related Notes:
Click the icon to open Debt Consolidation Calculator
Monthly Debts Current Balance Payment % Payment By % Payment Used
Maintenance, Alimony or Child Support
Maintenance, Alimony or Child Support
Totals
Qualifying Ratios Option 1 Option 2 Option 3
Total Monthly Debt Payments
Income Ratio
Debt Ratio
DEBT CONSOLIDATION
Click the icon to open Total Debts Calculator
Select the loan option below to compare the current debt payment
with the cost of adding that to the new loan.
Rate & Term Consolidation Payment Add Add to
Payment Savings Balance Cash Out

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