Scenario
Comparison Calculator with Qualification and Total Cost & Benefits
Analysis
OVERVIEW
Analysis Prepared for
Option 1
Option 2
Option 3
Option 4
Option 5
Sale Price
Taxes
Mo. Fee (HOA, condo, etc.)
Down Payment
Down
Payment %
Down
Payment Amount
Reference Labels
1st Mortgage
Loan to Value 1st & CLTV
1st Loan
Amount
Loan Term in Years
Discount Points
Interest
Rate 1st
APR
(Annual Percentage Rate)
SP PMI or UFMIP if FHA
Check to add MI to Loan Amount
Actual LTV with financed MI =
Total Loan Amount
Check box to use Interest Only (IO)
1st Loan
Payment
2nd Mortgage
Loan to Value 2nd & CLTV
2nd Loan
Amount
Loan Term
Discount Points
Interest
Rate 2nd
APR
(Annual Percentage Rate)
Check box to use Interest Only (IO)
2nd Loan
Payment
Totals
Combined Loan to Value
Total Loan to Value and Down
Payment
Total 1st & 2nd Loan Amounts
Weighted Average Rate
Total
Loan Payments
Monthly
Expenses
Taxes
Hazard
Insurance @ factor of
Mortgage
Insurance Factor
HOA/Condo/Coop,
etc. Fee
Total Monthly Expenses
Total
Loan Payments & Expenses
Total
Est. Mo. Payment
Closing Costs
1st Loan
Avg. Est. Costs @
Cost of Discount Points 1st
SP PMI or UFMIP if not financed
2nd Loan
Avg. Est. Costs @
Cost of Discount Points 2nd
Total Closing Costs
Closing
Costs for the APR Calculation (these include per diem
interest)
Cost for APR on 1st mortgage
Cost for APR on 2nd Mortgage
Pre-Paid
Expenses
1st Loan Per Diem Interest
2nd Loan Per Diem Interest
Months of
Taxes to Escrow @
Months of Taxes to Seller @
First
Year of Insurance
Months of
Insurance to Escrow @
Months of
HOA/Condo Fee, etc.
Months of
PMI
Total Pre-Paid Expenses
Cash To
Close
Option 1
Option 2
Option 3
Option 4
Option 5
Down Payment
Total
Costs & Pre-Paids
Seller
Concession/Credit
Lender
Credit
Total Cash to Close
QUALIFICATION
Assets (To qualify,
you must demonstrate the availability of the needed liquid funds to close and
sufficient reserve funds for the program to be used)
If
applicable, calculate the Net Proceeds from the sale of an existing home in
this section:
Enter Sales Price
Payoff balance on 1st
Mortgage Loan
Commission @
Payoff balance on 2nd
Mortgage Loan/HELOC
Transfer Taxes/Expenses @
Payoff balance on any other loans or
liens
Total of all balances & expenses
Net Proceeds from Sale (Enter in liquid assets)
Liquid
Assets available for the transaction
Reserve
Funds that will not be used for the transaction
Deposit on Sales Contract
Retirement
Net Proceeds from Sale of
Existing Home
Retirement
Checking / Savings 1
Retirement
Checking / Savings 2
Brokerage
Brokerage
Retirement calculated at 60%
and Brokerage at 70%
Total Liquid Assets Available
Total Reserve Funds
Asset Qualification
Option 1
Option 2
Option 3
Option 4
Option 5
Required Cash to Close
Liquid Assets Available
Surplus or (-)shortfall
Months of Liquid Reserves
Total Months with Reserve Funds
Income/Debts
(To qualify, borrowers must demonstrate sufficient and
usable regular monthly income for the program requirements)
Option 1
Option 2
Option 3
Option 4
Option 5
Income
to Qualify @ ratio of
Income for Borrower 1
Years
with employer =
0
Monthly
Debts
reference
Monthly Payment
Annual salary
Other R.E. Owned
Income
per
Period
Other
R.E. Owned
Other R.E. Owned
Other R.E. Owned
Auto Loan/Lease
2 Yr, Avg, Bonus, Commission, OT, Self Employment, etc.
Auto Loan/Lease
Year 1
Auto
Loan/Lease
Year 2
Auto
Loan/Lease
Avg. =
Student Loan
Other Annual Income (enter
description and amount)
Student Loan
Student Loan
Student Loan
Total
Income for Borrower 1
Student
Loan
Installment Loan
Income for Borrower 2
Years
with employer =
0
Installment
Loan
Annual Salary
401K/other Loan
Income
per
Period
401K/other
Loan
Credit Card
Credit Card
Credit Card
2 Yr, Avg, Bonus, Commission, OT, Self Employment, etc.
Credit Card
Year 1
Credit
Card
Year 2
Credit
Card
Avg. =
Credit Card
Other Annual Income (enter
description and a mount)
Credit
Card
Credit Card
Credit Card
Total
Income for Borrower 2
Credit
Card
Other
Total Income for Borrower 3
Other
Total Income for Borrower 4
Other
Total Income for Borrowers 3 & 4
Other
Total Annual Income
Total
Monthly Debt
Qualifying Ratios
Option 1
Option 2
Option 3
Option 4
Option 5
Income Ratio
Debt Ratio
TOTAL PAYMENTS
Enter the number or years
that you expect to own the property or have the loan(s)
Total
Payments Made Over Number of Years Selected
1st Mortgage
Option 1
Option 2
Option 3
Option 4
Option 5
Total Payments Made
Total Interest Paid
Total Principal Paid
2nd Mortgage
Total Payments Made
Total Interest Paid
Total Principal Paid
Total Payments Made
Total Interest Paid
Total Principal Paid
TOTAL COST AND BENEFITS
ANALYSIS
Future Value Upon Sale
Lookup Average rate of
appreciation
AK 4.72% AL 4.38% AR 4.25% AZ 5.35% CA 7.49% CO 5.84% CT 6.15% DC 7.77% DE 5.37% FL 4.96% GA 4.40% HI 7.03% IA 4.24% ID 5.03% IL 5.12% IN 4.24% KS 4.09% KY 4.52% LA 4.74% MA 7.11% MD 6.12% ME 6.04% MI 4.56% MN 5.48% MO 4.48% MS 3.82% MT 5.80% NC 4.83% ND 4.33% NE 4.21% NH 6.13% NJ 6.67% NM 5.26% NV 5.13% NY 6.42% OH 4.21% OK 4.26% OR 6.45% PA 5.19% RI 6.55% SC 4.71% SD 4.57% TN 4.53% TX 4.26% UT 5.62% VA 5.69% VT 5.65% WA 7.05% WI 4.88% WV 3.76% WY 5.41%
Enter expected rate of
appreciation
Projected
Future Value (uses monthly accrual r ate)
Set
the Factors by which the Total Cost and Benefits Analysis will be made
Expected
rate of inflation which will be applied to expenses such as real estate
taxes, insurance, etc.
Marginal
Tax Bracket (you can use any actual percentage that you
believe is most applicable to your individual tax situation)
Lost
Opportunity Rate (This is the rate of interest that your
money would earn if not invested in the property)
If
using any Interest Only Loan options and want to account for the invested
value of the lower payments, click the box here
Alternative
Investment Rate (This is the interest or gain earned if
you invested your principal dollars outside of the loan - IO loans only)
Cost
of Future Sale (Enter the percentage here which will be
based on future value of the property for commission, etc.)
Option Specific Factors
Option 1
Option 2
Option 3
Option 4
Option 5
Sale Price
Owners Equivalent Rent
Tax Deductible Percent of Mo. Fee
Annual Maintenance Cost
TOTAL COSTS
Total Closing Costs
Total Interest Paid
Total Real Estate Taxes Paid
Total Insurance Paid
Total
Condo/Coop/HOA Expenses/Fees Paid
Total Cost of Maintenance
Lost
Opportunity Value of Cash Invested
Cost of Future Sale
Total Costs
TOTAL BENEFITS
Appreciation of Property Value
Tax Savings on Interest Paid
Tax Savings on Real Estate Taxes
Tax Savings on Points Paid
Tax Savings on Condo/Coop Fee
Owner's Equivalent Rent
Alternative
Investment Income / IO 1st
Alternative
Investment Income / IO 2nd
Total Benefits
TOTAL NET BENEFIT
Total Benefits less Total Costs
RETURN ON INITIAL INVESTMENT
Total Cash Invested at Purchase
Total Net Gain
Gross
Rate of Return on Cash Invested
Annualized
Rate of Return on Cash Invested
PROCEEDS FROM SALE
Sale Price
Cost
of Sale (Commission, legal fees, etc.)
Loan Balance at Sale
Investment
Account Balance (from IO option)
Cash on Sale
SUMMARIES
Option 1
Option 2
Option 3
Option 4
Option 5
Reference Label
Sale Price
Loan Parameters
Total Loan to Value
Loan Amount(s)
Weighted Average Interest Rate
Monthly Payments
Total Monthly Payments
Monthly Tax Benefit
After Tax Payment
Net Cost Difference vs. Option 1
Qualification
Income Ratio
Debt Ratio
Liquid Asset Surplus or Shortfall (-)
Total Reserve Months
Total Monthly Cost and Benefits
Total Monthly Benefit
Total Monthly Cost
Total Net Monthly Gain (-loss)
Cash to Close and Cash Upon Sale
Cash To Close
Total Cash at Sale
Total
Bottom Line Net Benefit and Annual Return On Initial Investment
Total Net Benefit
Annualized
Return on Cash Invested
