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Submit Question Inquiry Form

Danny Currie

Branch Manager, VP

Homeside Financial, LLC

4000 Legato Rd. Suite 550

Fairfax, VA 22033

D 703-731-8101

www.dannycurrie.com

dcurrie@gohomeside.com

Housing Payment/Net Cost and Qualification Calculator

Sales Price

$200,000

Down Payment %

20%

Loan Amount

Total Monthly Payment

Rate/APR

5.00%	5.15%

Term

Taxes

$3,000

Insurance

Condo/Co-op

$0.00

MI Factor

SP/UFMIP

Click to Open Net Cost Screen

Click to Open Qualification Screen

Net Cost Analysis Factors

Adjust your Marginal Tax Bracket

28.00%

Tax Savings on Mortgage Interest

Tax Savings on Real Estate Taxes

Tax Savings on Condo/Co-op or HOA Fee

Deductible Percentage =

Adjust the expected Rate of Appreciation

3.00%

Net Cost Results

Total Payment

Principal

Tax Savings

Appreciation

Net Payment

Qualification

Click/tap once to open for input or click/tap on calculator icon to open a calculation screen.

Green = Good, Yellow = Caution, Red = Over typical limits

Income 1

Total

$50,000

Income Ratio

Debts 1

Total

$650

Debt Ratio

Qualification is not limited to but will include having acceptable income and debt ratios, cash to close, reserves and credit score.

Assets 1

Total

Cash to Close

+/-

Credit Scores

500

Click to use

500

Click to use

350

Click to use

350

Click to use

Req. Minimum

620

Score Used

500


INCOME CALCULATOR								Close & Enter Total

								Annual Totals

Annual Salary	$0

Weekly	$0	X	52	Weeks	=

Bi-Weekly	$0	X	26	Periods	=

Hourly	$0	X		Hours	X	Weeks	=

Other	$0	X			X		=

Income types that must be averaged for two years - Note, if declining from year to year, income may be disallowed towards qualification

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

Income from interest and/or dividends can be hard to use, however, if allowed, it would typically be averaged for three years

	$0		Full year total from three years ago

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

Total Income .........................................

Notes:

DEBT CALCULATOR

Close & Enter Total

Monthly Totals

Automobile loan or lease

School Loans

Credit Cards

Other Real Estate

Other

Total Monthly Debts =

Notes:

Assets - if required for the transaction, must be "liquid."

Close & Enter Total

Checking

Savings

CD / Money Market

Other

Gift Funds from Family

Brokerage

70%

Brokerage

70%

Brokerage

70%

Retirement

60%

Retirement

60%

Retirement

60%

Other

Total Assets (for use of retirement funds, written evidence for terms of liquidation may be required)

Total Cash for Closing and Reserves Required (from Cash Required Screen)

Over/Under =

Notes:

Cash Required for Closing and Qualification

Close & Enter Total

Down Payment

Closing Costs

Base Closing Cost Factor @

Approximate Base Closing Costs

Discount Points or Origination Fee

Cost of Points or Origination Fee

UFMIP/SP MI, VA Funding fee, etc., if not financed

Cost if not financed

Other

Total Other Fees

Total Closing Costs

Pre-Paid Expenses

Per Diem/Pre-Paid Interest

Days

Per-Diem Interest Total

Pre-Paid Homeowners Policy @

Months

Insurance Cost Total

Pre-Paid Expenses calculated @

Months

Pre-Paid Expense Total

Association, Condo or Coop Fees

Months

Monthly Fee Total

Other fees

Total Pre-Paid Expense

Monthly Reserve Requirements @

Months

Cash Reserves Required

Total Cash for Closing and Reserves Required

Base Costs used for the calculation of the APR = Closing Costs + Pre-Paid Interest + UFMIP/SP PMI

Enter the number of years of monthly MI/PMI to be used for the calculation of APR

Total Costs Used for the calculation of APR

Notes:

This information does not constitute an application nor a Good Faith Estimate. Every effort has been made to assure the accuracy of the information and mathematical calculations provided by these calculators, however, the provider makes no guarantee and maintains no liability for use of or reliance upon the results. These calculations represent "what if" scenarios,are educational in nature and where projections are illustrated, they are not intended to predict future performance of the markets and/or specific properties. Homeside Financial LLC NMLS# 1124061 Danny Currie NMLS# 211780

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