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Mortgage Interest Rate Investment Property

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					                                MetLife Home Loans
          Net Financial Benefit Worksheet for FHA Streamline Refinances

     Closer to check the appropriate box to demonstrate the net tangible benefit once the rate is locked. The
  following is required for all FHA Streamline Refinance transactions in addition to the standard MetLife or state
                        Loan #:          Net Financial Benefit requirements.
              Borrower Name:
               Date Prepared:


      A. Reduction in Total Mortgage Payment
     Total Mortgage Payment* on Existing FHA Insured Mortgage
     Total Mortgage Payment* on New FHA Insured Mortgage
                                                    Difference          $             -
                                           Percent Difference                      #DIV/0!

     If new total payment is 5% or more below the existing total payment, there is a net tangible benefit
     All Second Home and Investment Home transactions must meet this requirement. If 1-Year ARM or Hybrid
     ARM to Fixed, C or D below must be met as well.
     Applicable when refinancing from a Fixed Rate to a Fixed Rate, ARM to ARM, GPM to Fixed Rate, GPM to
     ARM, 203(k) to 203(b) and from 235 to 203(b)



      B. Fixed Rate to 1-Year ARM
     Interest Rate on Existing Fixed Rate Mortgage
     Interest Rate on New 1-Year ARM
                                                        Difference                  0.000%

     If the interest rate on the new mortgage is at least 2% below the interest rate of the existing mortgage,
     there is a net tangible benefit.
     Not allowed for Second Home or Investment Property



      C. 1-Year ARM to Fixed Rate
     Interest Rate on Existing 1-Year ARM Mortgage
     Interest Rate on New Fixed Rate Mortgage
                                                        Difference                  0.000%

     If current mortgage is 1-Year ARM and new Fixed Rate is no more than 2% above current 1-Year ARM
     rate, there is a net tangible benefit.
     All applicable Second Home and Investment Property transactions must meet this requirement.



      D. Hybrid ARM to Fixed Rate
     Total Mortgage Payment* on Existing Hybrid ARM
     Total Mortgage Payment* on New Fixed Rate Mortgage
                                                        Difference      $              -
                                               Percent Difference            #DIV/0!


     If current mortgage is Hybrid ARM and new Fixed Rate total payment is no more than 20% higher than
     current Hybrid ARM total payment, there is a net tangible benefit.
     All applicable Second Home and Investment Property transactions must meet this requirement.



      E. Reduction in Term
     Transactions with a reduction in the original mortgage term must be closed as a Rate Term / credit
     qualifying refinance.




     *Total mortgage payment includes principal, interest, taxes, insurances, homeowners' association fees,
     ground rents, special assessments, and all subordinate liens




9b49328d-c423-4974-9581-9869b0a245ad.xls      Doc Type: CRDTPKG                                            07-09-2010

				
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