Front and Back Ratios

At the top of the report, you are shown the front and back ratio, the max for both, and by how many dollars they are staying under or how much they are over the maximum. 

• The front ratio is calculated by dividing housing expenses by the borrower's gross monthly income.
• The back ratio is calculated by dividing the total monthly debt payments by the borrower's gross monthly income.

Available Cash In-Hand, LTV and Applicable Debts

Next, you will see the Loan Amount, LTV, and Available Cash In-hand which will help your client determine which debts they would like to pay off using the new proposed loan. 

• Use the boxes next to their corresponding debts to include in the loan refinance. 

• The subtotals and total will automatically be updated below when a debt is added. 
• Deficit/ Monthly Savings: Your customers' monthly deficit or savings will appear in the right-hand box. 
• Savings through Debt Consolidation: Overall savings gained by consolidating debts will appear in the left-hand box.

Payments

This section compares your client's existing monthly mortgage payment and other debts and obligations against the new proposed loan with their debts consolidated.

Loan Details

Lastly, you will find a full breakdown comparison of all loans, debts, obligations, and equity in both the existing and proposed scenarios. 

If you would like to make edits to either the existing or proposed loan details, click Edit in the top right corner of the page. 

From here, you can add or make edits to the scenario's debts and obligations, edit client information, existing property or loan information, and proposed loan information, as well as add or change a co-branded partner to the report.  

Have questions or need further assistance? Click here!