buyers qualification by U81d24

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									Buyer's Qualification Worksheet
   Fill in boxed areas only; shaded cells are automatically calculated.

Desired Home Purchase
          List Price
          % to Be Financed                                                  %
          Term of Loan (Yrs.)
          Interest Rate                                                     %
          Monthly Payment

          Est. Annual Property Taxes
          Est. Annual Insurance Premium
          Est. Homeowners Assn. Fees
                     Total Annual Costs
                     Monthly Costs

          Monthly Cost of Homeownership


Buyer's Financial Resources
          His Gross Monthly Income
          Her Gross Monthly Income
                     Total Monthly Income

          Monthly Debt Payments
                    Auto Loan(s)
                    Other Recurring Payments
                    TOTAL


Qualifying Ratio Calculation

          Ratio Based on Housing Expense
          [This percentage should fall at or below 28% for conventional loans.]
          [This percentage should fall at or below 29% for HUD/FHA loans.]

          Ratio Based on Income
          [This percentage should fall at or below 36% for conventional loans.]
          [This percentage should fall at or below 41% for HUD/FHA loans.]

          Min. Mo. Income Needed to Qualify:

								
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