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Mortgage Mart Serviceability Calculator - Mortgage Mart

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Mortgage Mart Serviceability Calculator - Mortgage Mart Powered By Docstoc
					ADVANTEDGE SERVICEABILITY CALCULATOR v1007-2
Loan Details
         Applicant Name(s)
              Security Value                                                           LVR

 Use custom fields when simulating repayments for a given date range, otherwise select a pre-defined maturity date for
                         normal serviceability calculation based on our available loan terms.



                   Start Date                24-Jun-2011               Custom Start Date
 Maturity Date/Loan Term                          30-years        Custom Maturity Date

              Adult Couples                                                  Single Adults                                Dependant Children
Rates
              Effective Rate                                               Qualifying Rate

Commitments - This Loan                                                                                                  Commitments - Other
                                                                         Repayment at                Repayment at
Loan Number                       Loan Amount                           Qualifying Rate              Effective Rate                               Annual Amount
                                                                                                                              From this Loan      $                   -
                                                                                                                             Other Mortgages
                                                                                                                                         Rent
                                                                                                                              Hire Pur./Lease
                                                                                                                              Personal Loans
                                                                                                                                 Credit Cards
Totals                             $                    -          $                    -        $                -                       Other
                                                                                                                         Total Outgoing           $               -

Income
Applicant Name                    Gross Annual Income             Rental Income                 Deductible Interest      Tax Applicable           Net Cash After Tax
                                   $                    -          $                    -        $                -            #NAME?                  #NAME?
                                   $                    -          $                    -        $                -            #NAME?                  #NAME?
                                   $                    -          $                    -        $                -            #NAME?                  #NAME?
                                   $                    -          $                    -        $                -            #NAME?                  #NAME?
Totals                             $                    -          $                    -                                     #NAME?                   #NAME?

Business Income                                                                                 Addbacks
Description                       Amount                            Addback Description         Amount                          Business Tax      $               -
                                   $                    -              Interest Refinanced       $                -          Business Income
                                   $                    -                 Superannuation         $                -           After Addbacks      $               -
                                   $                    -                             Other      $                -
                                   $                    -                                        $                -
Totals                             $                    -

Debt Servicing
    Net cash after addbacks                                                #NAME?
    Less Living Expenses (as per table)                            $                    -
    Net Available                                                          #NAME?
    Less Total Outgoing                                            $                    -
    Surplus Cash Available                                                 #NAME?
                                 Cash Flow Test
ADVANTEDGE SERVICEABILITY CALCULATOR
Loan Details
         Applicant Name(s)        John & Betty Smith
              Security Value       $          600,000                                  LVR                    50.00%

 Use custom fields when simulating repayments for a given date range, otherwise select a pre-defined maturity date for
                         normal serviceability calculation based on our available loan terms.



                   Start Date                   6-Jul-2010             Custom Start Date
 Maturity Date/Loan Term                          30-years        Custom Maturity Date

              Adult Couples                                 1                Single Adults                                Dependant Children                           2
Rates
              Effective Rate                         6.50%                 Qualifying Rate                     8.50%

Commitments - This Loan                                                                                                  Commitments - Other
                                                                         Repayment at                Repayment at
Loan Number                       Loan Amount                           Qualifying Rate              Effective Rate                               Annual Amount
                                             $300,000.00           $             2,306.74        $          1,896.20          From this Loan      $        27,680.89
                                                                   $                  -          $               -           Other Mortgages      $        25,875.00
                                                                   $                  -          $               -                       Rent
                                                                   $                  -          $               -            Hire Pur./Lease     $         3,650.00
                                                                   $                  -          $               -            Personal Loans
                                                                   $                  -          $               -               Credit Cards     $         1,500.00
Totals                             $          300,000.00           $             2,306.74        $          1,896.20                      Other
                                                                                                                         Total Outgoing           $        58,705.89

Income
Applicant Name                    Gross Annual Income             Rental Income                 Deductible Interest      Tax Applicable           Net Cash After Tax
John Smith                         $           55,000.00           $            12,580.00        $        11,925.00      $         10,288.79      $        54,775.22
Betty Smith                        $           40,000.00           $            12,580.00        $        11,925.00      $          5,563.79      $        44,500.22
                                   $                    -          $                    -        $                -      $                 -      $               -
                                   $                    -          $                    -        $                -      $                 -      $               -
Totals                             $           95,000.00           $            25,160.00                                $         15,852.57      $        99,275.43

Business Income                                                                                 Addbacks
Description                       Amount                            Addback Description         Amount                          Business Tax      $         4,500.00
XYZ Pty Ltd                        $           15,000.00               Interest Refinanced       $                -          Business Income
                                   $                    -                 Superannuation         $                -           After Addbacks      $        10,500.00
                                   $                    -                             Other      $                -
                                   $                    -                                        $                -
Totals                             $           15,000.00

Debt Servicing
    Net cash after addbacks                                        $          109,775.43
    Less Living Expenses (as per table)                            $           29,820.00
    Net Available                                                  $           79,955.43
    Less Total Outgoing                                            $           58,705.89
    Surplus Cash Available                                         $           21,249.54
                          Cash Flow Test (Pass)                                       1.36

				
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