DSR NSR Calculator

© 2002 DSR /NSR Calculator Version 01 October 2006 Underwriter's Name Insert the relevant details into blank fields in yellow cells Yellow shaded cells require input Show split loan amounts in correct fields White shaded cells derived from formulas There must be at least one borrower Blue shaded cells applies appropriate scales 1. LOAN DETAILS Application Name /Loan No. Number of Adults Number of Couples Number of Dependent Children Loan Amount -Owner Occupied Value -Owner Occupied Property Loan Amount -Investment Value -Investment Property/ies Total Loan Amount Sought -$ Total Security Value -$ Term of Loan (No. of Years) 0 Loan to Valuation Ratio (LVR) #DIV/0! Interest Rate -Actual Interest Rate -Loaded 1.50% 0.1250% Existing Home Loan Loan Repayment p.m. -Loaded #DIV/0! Existing Investment Loans 2. DSR CALCULATION Entity Gross Income p.a. Apportioned Rent to Borrowers (to total 80%) Deductible Interest Business Addbacks Taxable Income Business Net Profit Before Tax (NPBT) Tax Applied Business Tax Social Security Income Net Income Business Net Profit After Tax (NPAT) plus Addbacks Individual Applicant 1 -$ -$ -$ -$ -$ Individual Applicant 2 -$ -$ -$ -$ -$ Individual Applicant 3 -$ -$ -$ -$ -$ Individual Applicant 4 -$ -$ -$ -$ -$ Totals for Individuals -$ -$ -$ -$ -$ -$ -$ Business Income -$ -$ Rent Details Rent p.w. -New Investment Property This Loan #DIV/0! Rent p.w. -Other Investment Securities Other Mortgages -Owner Occupied Rent p.w. -Existing Securities Other Mortgages -Investment Total Rent p.w. -$ Personal Loans Total Rent p.a. -$ Credit Cards Limit -$ 80% of Total Rent p.a. -$ Others Total Financial Expense #DIV/0! -$ Less 80% Rental Income -$ Debt Service Ratio (DSR) #DIV/0! Desired Maximum 50.00% Net Financial Expense #DIV/0! 3. NSR CALCULATION Individual Gross Income -$ Rental Income @80%) -$ Deductible Interest #NUM! Taxable Income -$ Tax Applicable -$ Net Cash after Tax -$ Business NPAT plus Addbacks -$ -$ Social Security Allowances -$ Living Expenses (as per scales) -$ Net Disposable Income -$ Surplus Cash after Financial Expense #DIV/0! Net Service Ratio (NSR) #DIV/0! Minimum 1.15 Times Desirable 4. COMMENTS Underwriter's Signature Cell Index 30/01/08 8:20 AM Financial Expenses p.a. CLICK HERE TO CLEAR ENTRIES Security Position All loan purposes involving Investment properties will require weekly rental income in the appropriate Rent p.w. field Note: if the borrower combination is a company and individual person/s, please refer the loan directly to the RESIMAC Credit Department In the "Entity" field of DSR Calculation for Individual applicants, Insert "B" for borrowers who are not mortgagors; if applicable for investment purposes, "B" will receive apportioned deductible interest but no rent income is approtioned Insert "BR" for borrowers who are mortgagors; If applicable for investment purposes, "BR" will receive apportioned rent income and deductible interest Insert "G" for Guarantor and no rent income or deductible interest is apportioned Insert "GR" for guarantors who are mortgagors to receive apportioned rent income but no deductible interest NOTE: This servicing calculator was prepared as a guide for loan assessment. If DSR/NSR results are marginal, other mitigating factors may be considered. Please provide a detailed explanation in the "Comments" section. Total Incomes (Individual Gross, Allowable Social Security and Business NPAT/Addbacks ) $ASQDSR NSR Calculator.xlsLiving Expenses Annual Each Independent Adult 11,575 $ Each Couple 16,828 $ No of Dependants 0 0 1 4,090 $ 2 8,180 $ 3 12,270 $ 4 16,360 $ 5 20,450 $ 6 24,540 $ 7 28,630 $ 8 32,720 $ 9 36,810 $ 10 40,900 $ 11 44,990 $ 12 49,080 $ 13 53,170 $ 14 57,260 $ 15 61,350 $ Credit card Assessment 3.00% Post-GST Taxation Rates: Tax Boundary Tax Due Excess % 0 0 0% $6,000 $0 15.0% $25,000 $2,850 30.0% $75,000 $17,850 40.0% $150,000 $47,850 45.0% Applicant 1 Applicant 2 Applicant 3 Applicant 4 ANNUAL INCOME: -$ -$ -$ -$ Tax Boundary -$ -$ -$ -$ Tax Due on Boundary -$ -$ -$ -$ % Due on Excess 0% 0% 0% 0% Tax due on Income: -$ -$ -$ -$ NET INCOME: per annum $0 $0 $0 $0 DSR NSR Version 2.4 08/04/02 Matthew OrtigaDSR NSR Version 2.4 08/04/02 Matthew OrtigaDSR NSR Version 2.4 08/04/02 Matthew OrtigaWhere this loan is to purchase a new property that will be rented, calculate 80% of the proposed rent and add this to the Net Profit figure. Where this is done do not include that rent under Rent Details. Where income of the directors (guarantors) is being used in the serviceability calculation all their expenses also need to be included. Calculate the interest payable on this loan using the 'actual' interest rate. Enter this as a negative figure on the Financial Expenses 'Others' field. Company Net Profit adjusted where loan applied for will be paid for by company (i.e. company borrower) Include this interest figure as a new expense to the company by taking the amount away from the current Net Profit of the company. Where this loan will pay out a previous debt of the companies, add back the interest that was included as an expense in the company financials of this debt.