B Mortgage Ratio Worksheet

Section 1075 Section 1075.APPENDIX B   Mortgage Ratio Worksheet Part I LOAN-TO-VALUE-RATIO 1. Mortgage Amounts $ 2. Appraised Value $ 3. Line 1 divided by Line 2 Note:   This is the Percentage of the purchase price appraised value of your home that will be allocated to your total mortgage.  A percentage rate over 80% may result in you incurring additional costs. Borrower's Signature Part II INCOME RATIO MONTHLY HOUSING EXPENSES: 1. Principal and Interest Payment $ 2. Homeowner's Insurance 3. Real Estate Tax 4. Mortgage Insurance Premium 5. Homeowner's Assoc. Fee 6. Ground Rents 7. Payments on Existing or Proposed 2 nd Mortgage 8. Total Housing Expense (Add Lines 1 through 7) $ MONTHLY GROSS INCOME: 9. Gross Salary $ 10. Dividends/Interest 11. Social Security/Pension 12. Alimony/Child Support 13. Other 14. Total Gross Income $ 15. Divide Line 8 by Line 14 Note:   This is the percentage of your gross monthly income that will be allocated to your mortgage expenses. Part III LONG-TERM DEBT RATIO MONTHLY EPXNESES: 1. Total Housing Expense (Part II, Line 8) $ 2. Credit Cards 3. Car Payments 4. Loans (Not Included on Line 1 or Line 3) 5. Alimony/Child Support 6. Total Expenses $ (Lines 1 through 5) MONTHLY INCOME: 7. Total Gross Income (Part II, Line 14) $ 8. Divided Line 6 by Line 7 Note:   This is the percentage of your gross monthly income that will be allocated to your mortgage expenses and other debt that you pay on a monthly basis. Borrower's Signature