| Monthly Income (before taxes) | |||
| Borrower | Co-Borrower | Total | |
|---|---|---|---|
| Base employment income |
$ _______ | $ _______ | $ _______ |
| Overtime | _______ | _______ | _______ |
| Commissions | _______ | _______ | _______ |
| Interest/dividends | _______ | _______ | _______ |
| Other | _______ | _______ | _______ |
| Total monthly income | $ _______ | ||
| Monthly Payments on Existing Obligations | |||
| Automobile loan | _______ | _______ | _______ |
| Student loan | _______ | _______ | _______ |
| Credit cards | _______ | _______ | _______ |
| Alimony, etc. | _______ | _______ | _______ |
| Other | _______ | _______ | _______ |
| Total monthly payments | $ _______ | ||
| Monthly Housing Expense for New Loan (ask lender) | |||
| Mortgage payment (principal & interest) | _______ | ||
| Real estate taxes | _______ | ||
| Insurance premiums | _______ | ||
| Total monthly housing expense | $ _______ | ||
| Take the dollar amounts from Worksheet 1 and: | |
|
For the housing expense ratio, Divide Total monthly housing expense by Total monthly income = |
___________ |
|
For the all debt payments ration, Divide (the sum of Total monthly payments and Total monthly housing expense) by Total monthly income = |
___________ |