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					       Comparison of Conventional Plus to Other Conventional Mortgage Products
                               Refinance Transactions
Loan Information
  1   Current Unpaid Principal Balance (UPB)                                         $   244,400.00

  2   Current Appraised Value                                                        $   280,000.00

  3   Current Conventional Mortgage Rate (Obtain rate by clicking here)                      3.390%

  4   Current Conventional Plus Mortgage Rate - No DPAL (Obtain by clicking here)*           3.500%

  5   Current Conventional Plus Mortgage Rate with DPAL (Obtain by clicking here)*           4.250%

  6   DPAL Amount (Maximum of 3% of Lower of UPB or Appraised Value)                 $    7,000.00

  7   Estimated Closing Costs                                                        $   20,000.00

  8   Financed Closing Costs (if any)                                                $   20,000.00

*Enter either the 60- or 90-day rate for both loans with and without DPAL.


 3/21/2013



                                CLICK ON THE RESULTS TAB BELOW TO SEE RESULTS.
                      Comparison of Standard Conventional Product and Conventional Plus Results
                                               Refinance Transactions
                                                                                                                        Conventional Plus
                                                                                                  WITH DPAL                                          NO DPAL
                                                           Standard                      Monthly MI        Single MI                       Monthly MI        Single MI
                                                         Conventional                     Premium          Premium                          Premium          Premium
Maximum LTV                                                              97%                     97%               97%                             97%               97%
Appraised Value                                          $           280,000            $    280,000     $     280,000                    $    280,000    $      280,000
Unpaid Principal Balance (UPB)                           $           244,400            $    244,400     $     244,400                    $    244,400    $      244,400
Mortgage Rate                                                         3.390%                  4.250%            4.250%                          3.500%            3.500%
Base Mortgage Amount                                     $           244,400            $    244,400     $     244,400                    $    244,400    $      244,400
Financed Closing Costs                                   $            20,000            $     20,000     $      20,000                    $     20,000    $       20,000
DPAL Amount                                              $               -              $      7,000     $       7,000                    $        -      $          -
Gross Mortgage Amount                                    $           264,400            $    257,400     $     264,400                    $    264,400    $      264,400
                                                                                                                                     1                                     1
MI Premium (Upfront %)                                                  0.00%                      0.00%                    2.70%                0.00%            2.70%
                                                                                                            1                                            1
MI Premium (Annual %)                                                   1.36%                      0.85%                    0.00%                0.85%            0.00%
Total P&I                                                $              1,171           $          1,266         $          1,301         $      1,187       $    1,187
Monthly MIP                                              $                300           $            182         $            -           $        187       $      -
Total Mortgage Payment                                   $              1,471           $          1,449         $          1,301         $      1,375       $    1,187

MONTHLY SAVINGS                                                                         $             22         $            170         $         96       $      283
TOTAL ANNUAL SAVINGS                                                                    $            266         $          2,041         $      1,154       $    3,402

Assets Required
Estimated Closing Costs                                  $                 -            $            -           $            -           $        -         $      -
Upfront MIP                                              $                 -            $            -           $          7,139         $        -         $    7,139
Required Cash to Close                                   $                 -            $            -           $          7,139         $        -         $    7,139
DPAL Amount                                              $                 -            $          7,000         $          7,000         $        -         $      -
Net Cash Required                                        $                 -            $            -           $            139         $        -         $    7,139

CLTV                                                                   94.43%                     94.43%                   96.93%               94.43%           94.43%

1
Based on Genworth rates with a credit score of 680 - 719. Higher credit scores have lower rates. MIF's rate for 97% financing is 3.15%.

				
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