Prepared by Bill Lewis, NMLS #233784
Purchase Loan Scenarios
Notes
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Purchase Prices
Loan Details
Annual Household Income
Monthly Expenses
Scenario #1
Conv 30 yr fixed
Price$600,000.00
Down Payment20% — $120,000.00
Loan Amount$480,000.00
Rate6.500%
Base Payment$3,032.95
Monthly MI$300.00
Monthly Taxes$625.00
Monthly Insurance$125.00
Monthly HOA$450.00
Total Monthly Cost$4,532.95
Difference—
Debt-to-Income Ratios
Monthly Income$17,083.33
Housing DTI26.54%
Combined DTI35.90%
Scenario #2
Conv 30 yr fixed
Price$650,000.00
Down Payment20% — $130,000.00
Loan Amount$520,000.00
Rate6.500%
Base Payment$3,285.70
Monthly MI$325.00
Monthly Taxes$677.08
Monthly Insurance$125.00
Monthly HOA$450.00
Total Monthly Cost$4,862.78
Difference$0.00
Debt-to-Income Ratios
Monthly Income$17,083.33
Housing DTI28.47%
Combined DTI37.83%
Scenario #3
Conv 30 yr fixed
Price$700,000.00
Down Payment20% — $140,000.00
Loan Amount$560,000.00
Rate6.500%
Base Payment$3,538.44
Monthly MI$350.00
Monthly Taxes$729.17
Monthly Insurance$125.00
Monthly HOA$450.00
Total Monthly Cost$5,192.61
Difference$0.00
Debt-to-Income Ratios
Monthly Income$17,083.33
Housing DTI30.39%
Combined DTI39.76%
Debt Ratio should be within Guidelines
Debt Ratio is approaching maximum
May Exceed Debt Ratio Limits