Steve Brand
Northpointe Bank
7700 Hudson Rd
Suite 500
Woodbury, MN
612-386-5306
www.StevenBrandHomeLoans.com
Steve@StevenBrandHomeLoans.com


Four Loan Comparison Calculator

Use this calculator to make a side by side comparison of up to 4 various options.
 OPTION 1 OPTION 2 OPTION 3 OPTION 4
DOWN PAYMENTS AND LOAN AMOUNTS
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Down Payment
Total Loan to Value Ratio Needed =
LOAN TERMS AND PAYMENTS
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Principal and Interest Payments
Enter Proposed Mortgage Insurance Factors, VA Funding Fee or USDA Rural Housing Program Fee if Applicable:
Option Comparison Calculator Options
EXPENSES AND GRAND TOTAL MONTHLY PAYMENTS
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Option Comparison Calculator Options
CLOSING COSTS
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Approximate Costs using % of loan amount
CASH TO CLOSE
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Total Cash to Close
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Option Comparison Calculator Options
ANNUAL PERCENTAGE RATE (APR)
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Total Approximate Closing Costs
Total Cost of MI/PMI
Per Diem Interest @ days
Total Cost Used for APR Calculation
QUALIFICATION
OPTION 1 OPTION 2 OPTION 3 OPTION 4
Borrower's Income and Debt Qualification Ratios:
Income Ratio
Debt Ratio
Cash to Close and Assets Available:
Cash Reserves Required and Available:
NET LOAN COST COMPARISON
OPTION 1 OPTION 2 OPTION 3 OPTION 4
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Total Closing Costs
Grand Total Payments and Costs
Option Comparison Calculator Options
Total Principal Paid
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Marginal Tax Bracket
Tax Deduction on Interest Paid
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Tax Deduction on Points Paid
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Total Net Loan Cost
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The graph shows the total cost of the payments and any points paid less principal and any tax deductions

Payments + points - principal - tax benefits = net cost

Number of years for loan Comparison     

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Option Comparison Calculator Options
This loan comparison calculator can be used in many ways. The primary benefit is to compare various loan options side by side so you can see clearly the payment, principal and cost differentials not only as they appear on the surface but more importantly, over the specific time period that you expect to own your home or have your loan before sale or refinance. If you have any questions or would like to go through this together, reach out using the contact info above.
TOTAL INCOME
To qualify, borrowers must demonstrate sufficient and usable regular monthly income for the program requirements
Employment Notes:
Income for Borrower 1 Income for Borrower 2
Enter an annual salary or use the calculator sections for periodic, overtime, bonus, commission, rental income, etc.
Annual Salary
Click Box to Include this Income Monthly =
Annual Salary
Click Box to Include this Income Monthly =
INCOME CALCULATORS
Additional Income From 2nd Source or Additional Borrowers
INCOME CALCULATORS
Total Annual =
Click to use this income
TOTAL DEBTS
Debt Related Notes:
Monthly Debts Current Balance Payment % Payment By % Payment Used
Net Loss on Rental Property 1
Net Loss on Rental Property 2
Maintenance, Alimony or Child Support
Maintenance, Alimony or Child Support
Totals
Click the Check Box to send the Total Debt Payments to the Loan Comparison Screen
TOTAL 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
Commission @
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Transfer Taxes/Expenses @
=
Payoff balance on 1st Mortgage Loan
Payoff balance on 2nd Mortgage Loan/HELOC
Payoff balance on any other loans or liens
Total of all balances & expenses
=
Net Proceeds from Sale (figure transfers to Liquid Assets)
Liquid Asset Notes: Reserve Asset Notes:
Liquid Assets available for the transaction
Reserve Funds that will not be used for the transaction
Net Proceeds from Sale (from above)
Checking / Savings 1
Checking / Savings 3
Checking / Savings 4
Retirement calculated at 60% and Brokerage at 70%
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Total Liquid Assets Available
Retirement x =
Retirement x =
Brokerage x =
Brokerage x =
Brokerage x =
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Total Reserve Funds
Click Check Box to use this Total
Click Check Box to use this Total
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