Unpaid Balance
By entering the original mortgage amount, interest, term, and number of payments made, a current unpaid balance is easily determined.
High-Low Estimate
This is a rough estimate of approximately what the seller will net from the sale of their home based on two different sales prices. Since the specifics of an individual contract are unknown at this point, it is meant to give the seller an idea of what they might be able to expect to net from the sale of their home.
Hold or Sell & Buy
This analysis can show a homeowner whether a decision to stay in the home or to sell it and buy another home will result in a larger net worth at the end of an anticipated time period.
The Income Estimator calculates the minimum amount of income and the maximum amount of debt needed to qualify for a mortgage at a specific rate.
If the borrower’s debt exceeds the maximum amount, an increase in income is needed.
Other factors not considered in this form determine whether a person qualifies for a loan that are not considered in this form such as credit score, references, length of credit, ability to repay, and the property’s ability to secure the loan.
Refinance Analysis
This calculates how many months the owner will need to remain in the home to recapture the costs of refinancing. The decision to refinance a home is made on the feasibility of recapturing the expense involved in refinancing before the home is sold.
Seller’s Net Sheet
This is an estimate of what the seller’s closing costs will be based on a specific offer on the home.Exact closing costs will appear on the HUD-1 closing statement at the end of the transaction and can depend on the current unpaid balance of seller’s existing mortgage, seller-obligated fees for buyer’s mortgage if applicable, and other possible unknown charges at this time.
