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 that 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, click here to account for the invested value of the lower payments.
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 to be used to calculate commission, etc., based on the future value of the property.)
Option Specific Factors
Option 1
Option 2
Option 3
Option 4
Option 5
Sale Price
Owner’s 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