Mortgage Rates and Terms Worksheet

Lender:				
				
Loan agent:				
				
Phone number:				
Date:				
				
1. General Information				
Fixed or adjustable	[  ] F      [  ] A	[  ] F      [  ] A	[  ] F      [  ] A	
Fixed interest rate	%	%	%	
Government financing	[  ] Y      [  ] N	[  ] Y      [  ] N	[  ] Y      [  ] N	
Minimum down payment	%	%	%	
PMI required	[  ] Y      [  ] N	[  ] Y      [  ] N	[  ] Y      [  ] N	
Impound account	[  ] Y      [  ] N	[  ] Y      [  ] N	[  ] Y      [  ] N	
Term of mortgage	Years	Years	Years	
Assumable	[  ] Y      [  ] N	[  ] Y      [  ] N	[  ] Y      [  ] N	
Rate lock-in available	[  ] Y      [  ] N	[  ] Y      [  ] N	[  ] Y      [  ] N	
Cost to lock in	$	$	$	
21 days	$	$	$	
30 days	$	$	$	
45 days	$	$	$	
				
2. Debt-to-Income Ratios Information				
Allowable monthly carrying costs as % of income				
Allowable monthly carrying costs plus long-term debts as % of monthly income				
Maximum loan you qualify for based 
on debt-to-income ratios	$	$	$	
				
3. Loan Costs				
Number of points				
Cost of points	$	$	$	
PMI	$	$	$	
Additional loan fee	$	$	$	
Credit report	$	$	$	
Application fee	$	$	$	
Appraisal fee	$	$	$	
Miscellaneous fees	$	$	$	
Estimated total loan costs	$	$	$	
				
4. Time Limits				
Credit/employment check	Days	Days	Days	
Lender appraisal	Days	Days	Days	
Loan approval	Days	Days	Days	
Loan funding	Days	Days	Days	
Loan due date each month				
Grace period	Days	Days	Days	
Late fee	%	%	%	
				
5. Other Features
[such as a discount for having an account with a  certain bank, or a lender discount of interest rate on initial payments]				

				
6. Fixed Rate Two-Step Loans				
Initial annual interest rate	%	%	%	
Over how many years	Years	Years	Years	
				
7. Fixed Rate Balloon Payment Loans				
Interest rate	%	%	%	
Monthly payment	$	$	$	
Term of loan	Years	Years	Years	
Amount of balloon payment				
				
8. Adjustable Rate Mortgages (ARMs)				
Index				
11th District COFI Index	[  ]                         %	[  ]                         %	[  ]                         %	
6-Month T-Bill Index	[  ]                         %	[  ]                         %	[  ]                         %	
1-Year T-Bill Index	[  ]                         %	[  ]                         %	[  ]                         %	
Other:				
	[  ]                         %	[  ]                         %	[  ]                         %	
Margin	[  ]                         %	[  ]                         %	[  ]                         %	
Initial interest rate	[  ]                         %	[  ]                         %	[  ]                         %	
How long	Mos.             Yrs.	Mos.             Yrs.	Mos.             Yrs.	
Interest cap rate 	[  ]                         %	[  ]                         %	[  ]                         %	
Adjustment period	Months	Months	Months	
Life-of-loan (overall) cap	[  ]                         %	[  ]                         %	[  ]                         %	
Initial payment	Months	Months	Months	
Payment cap	[  ]                         %	[  ]                         %	[  ]                         %	
Payment cap period	Months	Months	Months	
Highest payment or interest rate in:				
6 months	%  $	%  $	%  $	
12 months	%  $	%  $	%  $	
18 months	%  $	%  $	%  $	
24  months	%  $	%  $	%  $	
30 months	%  $	%  $	%  $	
36 months	%  $	%  $	%  $	
				
9. Hybrid Loans				
Initial interest rate	%	%	%	
Term as a 
fixed rate loan	Years	Years	Years	
Interest rate at first adjustment period	%	%	%