DSR / NSR Calculator 14/06/11 10:31 AM Version 07 March 2011 v1.0 Underwriter's Name Cell Index 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 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 All loan purposes involving Investment properties will require Insert "BR" for borrowers who are mortgagors; If applicable for investment purposes, "BR" will receive weekly rental income in the appropriate Rent p.w. field apportioned rent income and deductible interest Insert "G" for Guarantor and no rent income or deductible interest is apportioned Note: if the borrower combination is a company and individual Insert "GR" for guarantors who are mortgagors to receive apportioned rent income but no deductible person/s, please refer the loan directly to the RESIMAC Credit interest Department 1. LOAN DETAILS Application Name / Loan No. Number of Adults Number of Couples Number of Dependent Children Security Position 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 0.0000% Mortgage Insurer Interest Rate - Benchmark #VALUE! #VALUE! Existing Home Loan Loan Repayment p.m. - Loaded #VALUE! Actual P&I Repayment p.m. #NUM! Existing Investment Loans 2. DSR CALCULATION Taxable Income Tax Applied Net Income Apportioned Rent Deductible Business Net (Medicare Levy Social Security Business Net Profit After Entity Gross Income p.a. to Borrowers (to Interest Business Profit Before Tax inclusive) Income Tax (NPAT) plus total 80%) Addbacks (NPBT) Business Tax Addbacks Individual Applicant 1 $ - $ - $ - $ - $ - Individual Applicant 2 $ - $ - $ - $ - $ - Individual Applicant 3 $ - $ - $ - $ - $ - Individual Applicant 4 $ - $ - $ - $ - $ - Totals for Individuals $ - $ - $ - $ - $ - $ - $ - Business Income $ - $ - Rent Details Financial Expenses p.a. Rent p.w. - New Investment Property This Loan #VALUE! 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 Incomes (Individual Gross, Total Financial Expense #VALUE! Allowable Social Security and $ - Business NPAT/Addbacks ) Less 80% Rental Income $ - Debt Service Ratio (DSR) #VALUE! Net Financial Expense #VALUE! 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) $ - NOTE: This servicing calculator was prepared as a guide for loan Net Disposable Income $ - assessment. If DSR/NSR results are marginal, other mitigating Surplus Cash after Financial Expense #VALUE! factors may be considered. Please provide a detailed explanation in the "Comments" section. Net Service Ratio (NSR) #VALUE! Minimum NSR = 1.00 4. COMMENTS Underwriter's Signature 1 8909bbe5-bdf9-4549-ba30-b7b0eadc16d8.xls Living Expenses (Annual) Poverty Line Australia: September Quarter 2010 Each Independent Adult $ 14,976 Each Couple $ 21,772 No of Dependants 0 0 1 $ 5,292 2 $ 10,584 3 $ 15,876 4 $ 21,168 5 $ 26,460 6 $ 31,752 7 $ 37,044 8 $ 42,336 9 $ 47,628 10 $ 52,920 11 $ 58,212 LMI Benchmark Servicing Interest Rate 12 $ 63,504 Select Mortgage InsurerRate Effective Date 13 $ 68,796 Genworth 9.29% 01/01/2011 14 $ 74,088 QBE LMI 9.30% 20/12/2010 15 $ 79,380 Other (loading) 2.00% Credit card Assessment 3.00% Tax Rates (with Medicare levy): Tax Rates from 01/07/10 Tax Boundary Tax Due Excess % Tax Boundary Tax Due Excess % 0 0 1.5% 0 0 0% $6,000 $90 16.5% $6,000 $0 15.0% $37,000 $5,205 31.5% $37,000 $4,650 30.0% $80,000 $18,750 38.5% $80,000 $17,550 37.0% $180,000 $57,250 46.5% $180,000 $54,550 45.0% 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.
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