Conventional
vs. FHA Loan with Simultaneous Second Loan Options
Sale Price
Sale Price
Taxes
Taxes
Do Not Show in
Calculator Field
Mo. Fee (HOA, condo,
etc.)
Mo. Fee (HOA, condo,
etc.)
Total Annual Interest for Weighted Avg.
Conventional
Loan
Conventional
FHA
First Mortgage
Down
Payment %
Down
Payment %
Second
Mortgage
Down
Payment Amount
Down
Payment Amount
Total
FHA Loan
1st Mortgage
1st Mortgage
First
Mortgage
Loan to Value 1st
Loan to Value 1st
Second
Mortgage
1st Loan
Amount
Base Loan
Amount
Total
Loan Term
Loan Term
Discount Points
Discount Points
Interest
Rate 1st
Interest
Rate 1st
APR
(Annual Percentage Rate)
APR
(Annual Percentage Rate)
SP PMI
UFMIP
Check to add PMI to Loan Amount
Check to add UFMIP to Loan Amount
Actual LTV with financed PMI =
Actual LTV with financed UFMIP =
Total Loan Amount
Total Loan Amount
1st Loan
Payment
1st Loan
Payment
2nd Mortgage
2nd Mortgage
Loan to Value 2nd
Loan to Value 2nd
2nd Loan
Amount
2nd Loan
Amount
Loan Term
Loan Term
Discount Points
Discount Points
Interest
Rate 2nd
Interst
Rate 2nd
APR
(Annual Percentage Rate)
APR
(Annual Percentage Rate)
2nd Loan
Payment
2nd Loan
Payment
Totals
Totals
Combined Loan to Value
Combined Loan to Value
Total 1st & 2nd Loan Amounts
Total 1st & 2nd Loan Amounts
Weighted Average Rate
Weighted Average Rate
Total
Loan Payments
Total
Loan Payments
Monthly
Expenses
Monthly
Expenses
Taxes
Taxes
Hazard
Insurance @ factor of
Hazard
Insurance @ factor of
Private
Mortgage Insurance/PMI @
Mortgage
Insurance / MI @
HOA/Condo/Coop,
etc. Fee
HOA/Condo/Coop,
etc. Fee
Total Monthly Expenses
Total Monthly Expenses
Total
Loan Payments & Expenses
Total
Loan Payments & Expenses
Total Est. Mo. Payment
Total Est. Mo. Payment
Closing Costs
Closing Costs
1st Loan
Avg. Est. Costs @
1st Loan
Avg. Est. Costs @
Cost of Discount Points 1st
Cost of Discount Points 1st
Single Premium PMI if not financed
UFMIP if not financed
2nd Loan
Avg. Est. Costs @
2nd Loan
Avg. Est. Costs @
Cost of Discount Points 2nd
Cost of Discount Points 2nd
Total Closing Costs
Total Closing Costs
Closing
Costs for the APR Calculation (these include per diem
interest)
Cost for APR on 1st mortgage
Cost for APR on 1st mortgage
Cost for APR on 2nd Mortgage
Cost for APR on 2nd Mortgage
Pre-Paid
Expenses
Pre-Paid
Expenses
1st Loan Per Diem Interest
1st Loan Per Diem Interest
2nd Loan Per Diem Interest
2nd Loan Per Diem Interest
Months of
Taxes to Escrow @
Months of
Taxes to Escrow @
Months of Taxes to Seller @
Months of Taxes to Seller @
First Year
of Insurance
First Year
of Insurance
Months of
Insurance to Escrow @
Months of
Insurance to Escrow @
Months of
HOA/Condo Fee, etc.
Months of
HOA/Condo Fee, etc.
Months of
PMI
Months of
PMI
Total Pre-Paid Expenses
Total Pre-Paid Expenses
Cash To
Close
Cash To
Close
Down Payment
Down Payment
Total
Costs & Pre-Paids
Total
Costs & Pre-Paids
Seller
Concession/Credit
Seller
Concession/Credit
Lender
Credit
Lender
Credit
Total Cash to Close
Total Cash to Close
Income to Qualify
Income to Qualify
Income to
Qualify @ ratio of
Income to
Qualify @ ratio of
Please
Note- Closing costs are approximated and this does not
constitue a Good Faith Estimate. Income to qualify can vary and is also
dependent
on the amount
of other monthly recurring debt that you may have such as car loans, student
loans, credit card debt, etc.
