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Loan scenarios
f
Open page 2 of the
3
a
b
c
Open page 4 of the
4
(field j) in the
amount.
Open the
5
288
The value in the
field should still be 80%, but the value in the
LTV
be 90%.
Click the Investment button to open the
and enter the amount of rent for the property in the
field and click OK.
Occ Rate
Loan Application
Click the Other Fin button in the
Information
section to open the
Enter the
,
Note Rate
Qual Rate
OK
Complete the hazard insurance, taxes, and mortgage insurance information.
The amount in the Total Housing Exp field represents the Principal,
Interest, Tax and Insurance (PITI) of the subject property.
The amount in the Net Rental Income field equals the Gross Rent amount
times the Occ Rate, minus the PITI. The Net Rental field displays the net
rental income.
If the net rental income amount is positive, it populates the 1008
Transmittal Summary. If it is negative, it populates the 1008 Transmittal
Summary's Neg Cash Flow box.
Loan Application
Details of Transaction
Good Faith Estimate
Investment Information
Gross Rent
and complete the following information:
Monthly Income and Combined House Expense
Second Mortgage Payment
, and
for the second mortgage and click
Term/Due
Note
and verify that the
section contains the second mortgage loan
and enter the fees for the first loan.
field should
CLTV
dialog box
field,
% in the
75
dialog box
field
Subordinate Financing
Calyx Software
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