Select
to set the print orientation as landscape, typically interpreted as
"wide. "

Click
to display the last page of the results.

The penalty a borrower must pay when a payment is made a stated number of days after its due date.

Calculate leap years under a Gregorian calendar as follows: If a year is evenly divisible by 4,it is a leap year unless it is also evenly divisible by 100. If a year is evenly divisible by 100,it is not a leap year unless it is also evenly divisible by 400.

An alternative financing option that allows home buyers to lease a home with an option to buy. Each month's rent payment may consist of not only the rent, but an additional amount which can be applied toward the down payment on an already specified price

A way of holding title to a property wherein the mortgagor does not actually own the property but rather has a recorded long-term lease on it.

Enter
the left margin in tenths of an inch, or accept the default.

A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.

The total of the lender fees.

Mortgage insurance program which allows the lender to collect a higher interest rate fromthe borrower and forward the excess interest to the mortgage insurance company to pay for the mortgage insurance.

This is simply the profit the lender expects to receive from the loan. You can ask your lender what the margin is on an adjustable rate mortgage. Typically, lenders use a discount rate initially as a teaser rate. You must be sure to get the normal margin after the discount period is over. Level payment loan LiabilitiesA person's financial obligations. Liabilities include long-term and short-term debt, as wel las any other amounts that are owed to others. liability insurance Insurance coverage that offers protection against claims alleging that a property owner's negligence or inappropriate action resulted in bodily injury or property damage to another party. It is usually part of a homeowner's insurance policy

The lending limit for the area where the loan is originated. This number should be acquired from the governing (i.e. HUD or FNMA) agency.

Select
when there will be equal payments, including principal and interest, for the
life of the loan. Level payment loans can result in a balloon payment at term
or they can be fully paid off (fully amortized).

Enter the terms for a level payment loan (one that has equal
payments for the life of the loan) and click Calculate. You must enter the
interest rate, periods per year, term, loan amount, prepaids, advance date, and
date of first payment or error messages display.

Click the Options and Variations button on the toolbar to
enter any variations.

The fields on the screen change as you click different
options. For example, if you click Multi-Streams, the Level Payment Installment
Loan (multiple screens) fields display at the bottom of the screen. Also, if
you select any options and variations, these fields display for data entry.

TBD

A legal claim against a property that must be paid off when the property is sold.

The life expectancy of the youngest borrower (in years).

The maximum interest rate that can be charged during the life of the loan. Also called Lifetime Cap. This value is often expressed as an increment above the initial loan rate. For example, an adjustable rate loan with an initial rate of 7. 25% and a 6% lifetime cap willnever adjust above a rate of 13. 25% (7. 25+6. 0).

For an adjustable-rate mortgage (ARM), a limit on the amount that payments can increase or decrease over the life of the mortgage. See cap.

On an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the loan. See cap.

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Enter
the maximum percentage that the initial interest rate can increase for the life
of the loan.

An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain time to a specified borrower. See home equity line of credit.

This flag tells the engine whether it should be calculating the amount of a line of credit.

1 = Calculate Line of Credit. 0 = Do NOT calculate Line of Credit.

This
indicates if the deposits or withdrawals that are subject to a linear growth
rate.

A cash asset or an asset that is easily converted into cash.

The amount of money you intend to borrow. The purchase price less your down payment

The base amount the borrower has requested before the addition of any finance charges.

The
amount of the construction loan.

Enter
the base amount the borrower has requested before the addition of any finance
charges. You need only enter a decimal point if the base loan has odd cents.
Commas, decimal points, and trailing zeros will be entered by the system.

The
note amount.

Leave
this field empty to solve for the amount of the loan, when you have entered
something for the Term and Payment Amount.

Indicate whether you are presently delinquent, or in default on any Federal debt or any mortgage, loan, bond, financial obligation or loan guarantee.

Enter the first line of your address, often the street number and name.

Enter any additional address information that should appear below the main address line for example; a continuation of line one, an apartment number etc.

Enter the current value of your auto(s). You might get this by calling your car dealer, or bank, or by using an internet source such as Kelly's or NADA.

Enter the amount of any currency or cash on hand.

Enter your checking account balance.

This is the Cash Surrender Value of your life insurance. You can find the amount in the policy itself, or by contacting your insurance agent,

Enter the total balances of your Money Market accounts.

Enter the net worth of any business you may own. You will also be required to furnish financial statements and/or tax returns for this business.

Enter any assets.

What is the value of other real estate you own besides your primary residence.

Enter the value of all personal property such as furniture, jewelry, appliances etc.

Enter the estimated current market value of your residence.

Enter your total on-hand cash reserves.

Enter the current value of any Stocks or Bonds you own.

Enter your Time Deposit balance.

Enter the value of any Vested Retirement Funds.

Indicate whether you have declared bankruptcy in the past 7 years.

Here you will indicate how you would like to make the payments. You can choose an automatic withdrawal option where we will extract the funds from your account each month. Or you can choose to be invoiced for the payment each month and submit checks via the mail.

The loan amount requested. The purchase price and closing charges less the down payment.

The first name of the primary borrower.

Enter your work phone number including area code. i.e. 999-555-1313. If you have no telephone, enter N/A.

Enter the full name of the city in which you reside.

Estimate what you think the total closing costs may be for this purchase. To see a list of common closing costs and their explanation click here.

The first name of this co-borrower.

How many borrowers will be obligated under this loan?

Who will be applying for this mortgage?

Indicate whether you have any accounts that have been turned over to collection agencies.

Indicate whether you are currently a co-maker or an endorser on a note.

By checking this check box, you and co-borrower(s) are agreeing to authorize MCBank to verify employment, credity, deposit and other miscellaneous information for their use in evaluating credit worthiness. Each co-borrower must agree to this statement.

Tell us if you are currently a customer of ours.

Entered as mm/dd/ccyy (i.e. 11/25/1981)

Enter your email address. (ex. jerrywilson@quirk.com)

Enter your email address (i.e. matcustomer@myserver.com).

Indicate the type of employment.

Indicate the date that you left this job. Dates should be entered as mm/dd/ccyy (I.e. 11/15/2000). If you still work here, just leave this date blank.

Please provide your full job title when you left this company.

What is your line of work, trade or profession? Describe briefly. Ex. draftsman, truck driver, attorney etc.

Please provide the full name of your employer.

Indicate the date that you started this job. Dates should be entered as mm/dd/ccyy (I.e. 11/15/2000)

This is the person to whom you report. If you don't report to anyone enter none.

The number of years you have been in this trade, profession or line of work.

Enter your employer's zip code.

Enter your montly child support and alimony payments.

Enter your total monthly car payment amounts.

Enter your total monthly credit card debt.

Enter your monthly hazard insurance payment.

Enter your monthly heat and utility payment.

Enter your monthly maintenance payment.

Enter your total "Other" debt. Include any monthly debt that is not covered by the questions above.

Enter your other mortgage payments amounts (summarized).

Enter the principal and interest amounts on your first mortgage.

Enter your monthly rent payment.

Enter your Social Security payment amount.

Enter your monthly state and local taxes expenses.

Enter your fax phone number. i.e. 999-555-1414. If you don't have one please enter N/A.

You can use this area to note any special circumstances or to provide us with any information that may be relevant to your application.

Enter your full/legal first name.

if you forgot

Enter your gross monthly income.

Enter your home phone number including the area code. i.e. 999-555-1212. If you don't have a telephone type N/A.

Enter the number of years and months you have lived at this address.

Enter the number of years and months you have lived at this address.

Enter the number of years and months you have lived at this address.

Enter your base monthly income (before taxes).