NSR Calculator
8/14/2008 2:20 PM
Your Application
Applicant(s) Name(s)
Date:
Owner Occupied Investment Total
14-Aug-2008
Living Expenses Number of Applicants:0 0 0 Single Adults 0 0.00% 0.00% 0.00% Couples 0 $0.00 $ $0.00 Dependent Children 0 $0.00 $ $0.00 Total Living Expenses $ Your Commitments Amount / Limit Monthly Commitment This Loan Total $ $ Other Mortgage Loans - Owner Occupied (Enter balance of loan and required monthly payment) $ $ Other Mortgage Loans - Investment (Enter balance of loan and required monthly payment) $ $ Total Credit Card Limits (3.00% per month of Limits is used as the monthly commitment) $ $ Other - Provide details below (Include personal loans, car loans etc, provide details in Notes below) $ $ Total Monthy Commitments $ Gross Income (Excluding Estimated Tax on Your Income Gross Rental Income Total Gross Income Estimated Net Income Rent) Taxable Income Source of Income (Annual) Applicant 1 $ $ $ $ Applicant 2 $ $ $ $ $ Applicant 3 $ $ $ $ $ Applicant 4 $ $ $ $ $ Applicant 5 $ $ $ $ $ Applicant 6 $ $ $ $ $ Untaxed Allowable Income $ $ Business NPBT $ $ $ $ $ Business Add Backs $ $ Totals $ $ $ $ $ Notes: Income/Other Commitments Proposed Loan Repayments @ 0.00% $ Total Other Commitments $ Total Living Expenses $ Total Costs, including Loan, Commitments and Expenses $ Net Disposable Income after Total Costs $ Net Surplus Ratio (Minimum: 1.00:1) 0.00:1 NSR Result Approximate Maximum Loan Amount $ Loan Amount Term (Years) Loan Interest Rate Actual Repayments Test Rate Repayments @ 11.80% $ $ $ -
This Loan
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Version CFS 2.00 29-Oct-2007
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NSR Calculator Help
8/14/2008 2:20 PM
Getting the most out of the NSR Calculator
This calculator determines whether your proposal meets our servicing criteria and shows you how we calculate it.
Using the NSR Calculator
Simply input your data into the unshaded fields. These fields sit to the right of their associated blue fields. You will need to enter the applicant's name, the amount of this loan, and the interest rate related to this particular loan. The figures with a green background are automatically calculated.
Refreshing the NSR Calculator
When you are preparing to calculate the NSR ratios for your next customer simply CLICK on the Macro button labelled "New" at the bottom of the calculator to refresh all data fields.
Applicant Details
Applicant Name Owner Occupied Investment Total Loan Term Loan Interest Rate Repayments Number of Single Adults Number of Couples Number of Children Living Costs For identification purposes. Loan amount - Owner Occupied. Loan amount - Investment. Combined Owner Occupied and Investment loan amounts. Term of the loan. Defaults to 30 years. Amend the loan term as required. Enter the applicable interest rates for each of the Owner Occupied and Investment components of the loan. Automatically calculates monthly repayments for the new loan. Taken into account for automatic calculation of individual living costs. Includes applicants not living together as a couple. Defaults to zero. Taken into account for automatic calculation of family living costs. Includes any applicant living in a marital or defacto relationship with any non-applicant. Defaults to zero. Taken into account for automatic calculation of family living costs. Defaults to zero. Calculated field based on number of applicants/families and dependants. Detail amount of other mortgage and the current monthly commitment. Detail amount of other mortgage and the current monthly commitment. Used for automatic calculation of maximum possible monthly repayment at 3% of the credit limit. Include any other loan repayments. Defaults to zero. The Notes section is available for details of other commitments if required. Enter gross taxable income for each applicant. Enter 100% of gross rental income. Converts to 80% for use in calculation of serviceability. The allotted rental tax deductibility is calculated based on the amount of Rental income per applicant. Other income such as family allowance. Defaults to zero. Business (net profit before tax) income. Defaults to zero. Enter acceptable business add backs from tax returns and/or business Profit & Loss statements. Defaults to zero. The tax calculations are estimates only, based on the current tax scales and do not take into account every allowable deduction on an individual basis. The Notes section is available for details of how income figures were established.
Other Commitments
Other Mortgage Loans - Owner Occupied Other Mortgage Loans - Investment Total Credit Card Limit Other Notes
Income
Applicants 1- 6 Rental Income Tax Deductibility (Rental Income) Untaxed Allowable Income Business NPBT Business Add Backs Calculations are estimates only Notes
Calculations
Proposed loan repayments The higher of: (a) the actual repayments using the interest rates entered in the "This Loan" section; or (b) the Test rate repayments using the test rate. Total Other Commitments Total of Commitments. Total Living Expenses As calculated. Total Costs, including Loan, Commitments Total of Proposed Loan Repayments, Total Other Commitments and Total Living Expenses. and Expenses Net Disposable Income after Total Costs Net Disposable Income after Total Costs, automatically calculates. Net Surplus Ratio (NSR) The ratio of the borrower's net disposable income after tax and living expenses to meet the existing and proposed commitments. The NSR must be at least 1.00:1. To achieve a Net Surplus Ratio calculation, the following minimum information must be supplied: (a) For this loan application: Total Loan Amount, Term and Interest Rate; (b) Either or both of Business NPBT and/or the Number of Applicants (for Living Expenses); and (c) Income so that a Total Net Estimated Income may be calculated. NSR Result For demonstration purposes only, the NSR Result will indicate: (a) Pass, if the NSR is 1.00:1 or above; (b) Reconsider, if the NSR is below 1.00:1. Estimates the Approximate Maximum Loan Amount that may be serviced financially from the information supplied. This estimate does not take into account other lending criteria that may apply. Refer the Operations Manual for a full description of Lending Criteria. In addition to demonstrating the ability to service a loan from income, the approval of any loan application is also dependent on loan size, Loan To Value Ratio (LVR), qualifying property criteria, and Lender's Mortgage Insurance approval.
Approximate Maximum Loan Amount
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NSR Calculator Detail Sheet
8/14/2008 2:20 PM
NSR Calculator Details
Applicant(s) Name(s) Date: 14-Aug-2008 Version Date VersionDate CFS 2.00 29-Oct-2007 Version CFS 2.00 29-Oct-2007
Loan Details Owner Occupied Investment Loan Amount $ $ Interest Rate 0.00% 0.00% Term Years Loan Repayment $ $ Test Rate Repayments $ $ Used in this Loan NSR Owner Occupied Investment Interest Rate 11.80% 11.80% Repayment $ $ Total Living Expenses Single Adults Couples Dependent Children Total Living Expenses NSR Results Required Calculated Calculated Truncated Pass / Caution / Reconsider Pass Green Reconsider Red Formatted NSR Result NSR Test Result Maximum Loan Amount NSR Required for Maximum Loan Amount Total Net Income Living Expenses Other Commitments Loan Funds Available Monthy Loan Funds Available Number 0 0 0
Total $ 0.00% Total $ $ $ $ $ 12,324 17,917 4,354 0.00% -
$ $
Total Method Sum AvgeWeighted Maximum Sum Sum Total Method AvgeWeighted Sum Living Expenses $ $ $ $ Valid NSR Calculation? NSR Repayment $ FALSE Business NPBT $ FALSE Living Expenses $ FALSE Net Income $ FALSE Valid NSR? FALSE Refer Help Text - Net Surplus Ratio (NSR) Invalid Default Value 0.00:1
-
1.0000 Min 1.00 999,999.99 0.00:1
Max 1,000,000.00 0.99
Apply FALSE TRUE
1.000000000000 $ $ $ $ $ -
Maximum Loan Rounddown Maximum Loan Maximum Loan Rounded Programme Maximum Loan Calculated Max Loan Amount Calculated Pass Max Loan Amount
$ $ $ $ $
10 1,500,000 -
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NSR Calculator Detail Sheet
8/14/2008 2:20 PM
NSR Calculator Details
Applicant(s) Name(s) Date: 14-Aug-2008 Version Date VersionDate CFS 2.00 29-Oct-2007 Version CFS 2.00 29-Oct-2007
NSR Calculator Income and Tax Calculations
Income Calculations
Applicant Applicant 1 Applicant 2 Applicant 3 Applicant 4 Applicant 5 Applicant 6 Business NPBT Totals Gross Income (Excluding Rent) $ $ $ $ $ $ $ $ 80.00%Gross Rental Income $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total Gross Income Rental Allocation 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% $ $ $ $ $ $ $ $ Deductible Interest This Loan Other Loans $ $ $ $ $ $ $ $ Income $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total Tax $ $ $ $ $ $ $ $ Net Income -
Tax Calculations
Applicant Applicant 1 Applicant 2 Applicant 3 Applicant 4 Applicant 5 Applicant 6 Business NPBT Totals Tax Bracket Base Tax Bracket Amount $ $ $ $ $ $ $ $ $ $ $ $ $ $ Tax Bracket Base Tax Tax Bracket Tax Rate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 33.00% Tax @ Rate Over Base $ $ $ $ $ $ $ Tax on Income $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total Tax -
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NSR Calculator Detail Sheet
8/14/2008 2:20 PM
NSR Calculator Details
Applicant(s) Name(s) Date: 14-Aug-2008 Version Date VersionDate CFS 2.00 29-Oct-2007 Version CFS 2.00 29-Oct-2007
NSR Calculator Financial Assumptions
Interest Rate Standard Test Rate 11.80% 80.00% 3.00% Standard Financial Assumptions Rental Income Percentage Credit Card Monthly Commitment - Percentage of Limit
IRD Tax Rates
Taxable income $0 – $38,000 $38,00 – $60,000 Over $60,001 Tax on this income 19.5c for each $1 $7,410 plus 33c for each $1 over $38,000 $14,670 plus 39c for each $1 over $60,000 TaxInc TaxBase $ $ $ 38,001 $ 7,410 $ 60,001 $ 14,670 Company Tax Rate TaxRate 19.50% 33.00% 39.00% Taxable income $0 - $38,000 $38,001 - $60,000 Over $60,000 33.00%
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