Fixed Rate MIDP Calculator
MORTGAGE INTEREST DIFFERENTIAL PAYMENT (MIDP) - TRADITIONAL BUY DOWN METHOD
Reference: 49 CFR 24, Appendix A, Section 24.401(d)
SECTION A: Please Enter Parcel Information and Data into this Section (Yellow)
Project Name Project is a Required Entry
Project Number Number
Parcel Number Number
Displacee Name Name
Calculated by Name
Existing (Old) Mortgage Balance Existing Mortgage
Existing Months Remaining* Existing Mortgage
Existing Annual Interest Rate Existing Mortgage
Existing Monthly Payment Existing Documented Mortgage Payment for Principal and Interest only
New Mortgage Amount New Mortgage
New Mortgage Term in Months New Mortgage
New Monthly Payment (Optional) Not Needed for the MIDP
Lesser: Prevailing or New Interest Rate Lesser: Prevailing or Actual Interest Rate for New Mortgage
Points or Loan Origination Fees New Mortgage
SECTION B: Calculated Mortgage Interest Differential Payment (MIDP)
MIDP, including Points: #DIV/0!
SECTION C: Worksheet for Traditional Buy Down Method
Calculated Existing Monthly Payment $0.00 Calculated on the existing balance, months and interest rate
Calculated Number of Months Remaining #DIV/0! Appendix A, 49 CFR 24.401(d)
Revised Existing Monthly Payment #DIV/0! Calculated in accordance with Appendix A, 49 CFR 24.401(d),
if the new term is less than the remaining term
Worksheet to Develop a Mortgage Balance that Sustains the Existing Monthly Payment, using the New Interest Rate
Calculate a revised mortgage balance to maintain the existing monthly payment of #DIV/0!
for #DIV/0! months, at an annual interest rate of 0.000%
(Lesser of remaining or new term in months) (Lesser of prevailing or new interest rate)
The Revised Mortgage Balance Required is: #DIV/0!
Worksheet Development of MIDP
The Existing Mortgage Balance Amount: $0.00
Subtract the Revised Mortgage Balance Required, as calculated above: - #DIV/0!
Calculated Increased Mortgage Interest Cost: = #DIV/0!
Calculated Pro-Rata Increased Mortgage Interest Cost = #DIV/0!
(if New Mortgage Amount is less than the Revised Mortgage Balance Required):
Add Points of 0.000% on the Lesser of the Revised Mortgage Balance or New Mortgage Amount: + #DIV/0!
Calculated MIDP (buy down including points): amount necessary to maintain existing monthly
payment of #DIV/0! for #DIV/0! months @ 0.000% = #DIV/0!
*Worksheet calculates the remaining term. If remaining term is less, for such as Balloon Payment, then the lesser term is used.