| Mortgage Amount |
$__________ |
| Available Funds: |
|
| Savings Account |
$__________ |
| Investments (stocks, bonds and
mutual funds) |
$__________ |
| Insurance (cash value) |
$__________ |
| Gifts - Conventional |
$__________ |
| Gifts - FHA (family member or
blood relative) |
$__________ |
| Other |
$__________ |
| Monthly Salary |
$__________ |
| Gross Monthly Income |
(A)
$__________ |
|
Monthly Payment:
|
| Principal & Interest |
| Taxes |
$__________ |
| Hazard Insurance |
$__________ |
| PMI (Private Mortgage
Insurance) |
$__________ |
| Homeowner Association Dues |
$__________ |
| Total Mortgage Payment |
(B)
$__________ |
Income Qualification: FHA - Take 29% of line (A)
Conventional - Take 33% of line (A) (Assuming at least 10% down
payment) |
Total Mortgage Payment
(B)
must
not exceed line (C) |
(C)
$__________ |
|
Debt Qualification:
|
| Total Mortgage Payment
(B) |
$__________ |
| Auto Payments* |
$__________ |
| Monthly Charge Card Payments |
|
| (minimum payments) |
$__________ |
| Loans* |
$__________ |
| Child Support/Alimony |
$__________ |
| Child Care Expenses (FHA Only) |
$__________ |
| Other Monthly Payments |
$__________ |
| Total Monthly Obligations |
(D)
$__________ |
Allowable Obligations: FHA - Gross Income (A)
x 41% or
Conventional - Gross Income (A)
x 38% |
Total Monthly Obligations
(D)
must
not exceed line (E) |
(E)
$__________ |
|
