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Net Tangible Benefit Worksheet (Excel)

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					                          NET TANGIBLE BENEFIT WORKSHEET
                       for all FHA Streamline Refinance Transactions
Loan #:                                                                                            NEW LOAN INFO:
FHA Case #:                                                                                        Base Loan
Borrower's Name:                                                                                   Loan w/UFMIP:
Underwriter Name:                                                                                  Interest Rate
Date:                                                                                              P&I                        0.00
                                                                                                   MIP Factor:
All loans must meet one of the following Benefit Tests:                                            P&I + MIP:                 0.00


                FROM A FIXED RATE TO FIXED RATE OR TO HYBRID ARM OR
 BENEFIT        FROM A HYBRID(During Fixed Period) TO FIXED RATE OR TO HYBRID ARM OR
 TEST #1        FROM A 1-YEAR ARM TO 1-YEAR ARM OR
                FROM A HYBRID(During Adjustable Period) to 1-YEAR ARM
                         There must be a reduction in the mortgage payment (principal, interest, monthly MIP) of at least 5% from
                         the existing mortgage payment.


                         Total Current (P&I + Monthly MIP):            $
                         Total Proposed (P&I + Monthly MIP):           $                0.00

                         % Difference in Monthly Payment ( => 5% )                 #VALUE! %



 BENEFIT        FROM A 1-YEAR ARM TO FIXED RATE:
 TEST #2        FROM A HYBRID ARM(During Adjustable Period) TO FIXED RATE
                         The interest rate on the new mortgage must be no greater than 2% above the current
                         rate of the 1-year ARM .

                         Interest Rate on Current ARM Loan                                     %
                         Interest Rate on Proposed Fixed Rate Loan                             %

                         Difference in Interest Rates ( <= 2% )                    #VALUE! %

                FROM A HYBRID ARM(During Adjustable Period) TO HYBRID
 BENEFIT        FROM A FIXED RATE TO A 1-YEAR ARM:
 TEST #3        FROM A HYBRID ARM(During Fixed Period) to 1-YEAR ARM
                FROM A 1-YEAR ARM TO HYBRID ARM:
                         The interest rate on the new mortgage must be at least 2% below the interest rate of the
                         current mortgage.
                         Interest Rate on Current Loan                $
                         Interest Rate on Proposed Loan               $

                         Difference in Interest Rates ( => 2% )                    #VALUE! %

Rev.July.2011

				
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