Principal and interest:

• Purchases, refinances or straight equity loans: use the loan amount, qualifying interest rate and term in months (i.e. 360 for 30 year loan) to calculate on loan calculator.
• Equity line of credit: use 1% of the line amount limit as the payment.

Taxes:

• Purchases: multiply the sales price by 1.25%, then divide by 12 to get new monthly amount.
• Refinances or equity loans: use the current amount per tax bill or the preliminary title report.

Insurance:

• Purchases: multiply the loan amount by .35%, then divide by 12 to get new monthly amount.
• Refinances or equity loans: use the current amount per insurance bill.

Mortgage Insurance:

• If loan is 80.01-85% LTV, multiply loan amount by .35%, then divide by 12 to get monthly amount.
• If loan is 85.01-90% LTV, multiply loan amount by .52%, then divide by 12 to get monthly amount.
• If loan is 90.01-95% LTV, multiply loan amount by .78%, then divide by 12 to get monthly amount.

HOA dues:

• Use current amount per preliminary title report or appraisal.

Other debts:

• Revolving debts: use amount per credit report, monthly statement or 5% of outstanding balance.
• Installment loans: use amount per credit report or coupon booklet/statement. If balance remaining is less than 10 regular monthly payments, debt is shown on application, but payment is not included in ratios.
• Debts being paid through this loan: list balance on application and mark with an asterisk to indicate it will be paid off and payment is not included in ratios.