© 2002
DSR / NSR Calculator
Version 01 October 2006 Underwriter's Name Insert the relevant details into blank fields in yellow cells Show split loan amounts in correct fields There must be at least one borrower 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
12/08/08 7:16 PM
Cell Index Yellow shaded cells require input White shaded cells derived from formulas Blue shaded cells applies appropriate scales 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
1. LOAN DETAILS
Application Name / Loan No. Number of Adults Number of Couples Number of Dependent Children Loan Amount - Owner Occupied Loan Amount - Investment Total Loan Amount Sought Term of Loan (No. of Years) Interest Rate - Actual Interest Rate - Loaded Loan Repayment p.m. - Loaded Security Position Value - Owner Occupied Property Value - Investment Property/ies Total Security Value $ Loan to Valuation Ratio (LVR) Existing Home Loan Existing Investment Loans
$
0 1.50% #DIV/0! 0.1250%
#DIV/0!
2. DSR CALCULATION
Apportioned Gross Income Rent to p.a. Borrowers (to total 80%) $ $ $ $ $ $ $ $ $ $ Deductible Interest Business Addbacks Taxable Income Business Net Profit Before Tax (NPBT) $ $ $ $ $ Social Security Income Net Income Business Net Profit After Tax (NPAT) plus Addbacks $ $ $ $ $ $ -
Entity
Tax Applied Business Tax $ $ $ $ $ $ -
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 Rent p.w. - Other Investment Securities Rent p.w. - Existing Securities Total Rent p.w. Total Rent p.a. 80% of Total Rent p.a. Total Incomes (Individual Gross, Allowable Social Security and Business NPAT/Addbacks ) Debt Service Ratio (DSR)
$
-
$
-
$ $ $ $
#DIV/0! Desired Maximum 50.00%
Financial Expenses p.a. This Loan Other Mortgages - Owner Occupied Other Mortgages - Investment Personal Loans Credit Cards Limit $ Others Total Financial Expense Less 80% Rental Income Net Financial Expense $
#DIV/0!
#DIV/0! #DIV/0!
3. NSR CALCULATION
CLICK HERE Individual Gross Income Rental Income @80%) Deductible Interest 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 Net Service Ratio (NSR) $ $ $ $ $ $ $ $ $ #NUM! #DIV/0! #DIV/0! Minimum 1.15 Times Desirable TO CLEAR ENTRIES
$
-
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.
4. COMMENTS
Underwriter's Signature 6308f4f6-f158-44a7-82bf-dd6c46cb231c.xls
Living Expenses
Each Independent Adult Each Couple No of Dependants
Annual $ $ 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 11,575 16,828 0 4,090 8,180 12,270 16,360 20,450 24,540 28,630 32,720 36,810 40,900 44,990 49,080 53,170 57,260 61,350
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Credit card Assessment
3.00%
Post-GST Taxation Rates:
Tax Boundary 0 $6,000 $25,000 $75,000 $150,000 Tax Due 0 $0 $2,850 $17,850 $47,850 Applicant 1 0% $ $ Excess % 0% 15.0% 30.0% 40.0% 45.0% Applicant 2 Applicant 3 $ 0% $ $ $ 0% $ Applicant 4 0%
ANNUAL INCOME: Tax Boundary Tax Due on Boundary % Due on Excess Tax due on Income: NET INCOME: per annum
$ $ $
$ $ $
$ $ $
$0
$0
$0
$0
DSR NSR Version 2.4 08/04/02 Matthew Ortiga
DSR NSR Version 2.4 08/04/02 Matthew Ortiga
DSR NSR Version 2.4 08/04/02 Matthew Ortiga
Company Net Profit adjusted where loan applied for will be paid for by company (i.e. company borrower) Calculate the interest payable on this loan using the 'actual' interest rate. Enter this as a negative figure on the Financial Expenses 'Others' field. 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. Where 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.