Bankers Training for Banking Regulations | Home
ABILITY TO REPAY
800-847-1653
Current/Reasonably Expected Income or assets (Excluding the value of the dwelling and any attached real property)
|Source of Income: _____________________________ |Verification Document: ____________________________ |
Employment Status (If relying on employment income; may be verified orally if record made for file)
|Employer/Self Employed: _______________________ |Verification: _____________________________________ |
Monthly Mortgage Payment
|Amount: _____________________________________ |Verification Document: ____________________________ |
Monthly Simultaneous Loan Payment(s) (loans secured by the same property)
|Amount: _____________________________________ |Verification Document: ____________________________ |
Monthly Mortgage-Related Obligations/Payments (property taxes, HOA fees, hazard & flood ins.)
|Taxes: _______________________________________ |Verification Document: ____________________________ |
|Hazard Insurance: ______________________________ |Verification Document: ____________________________ |
|Flood Insurance: _______________________________ |Verification Document: ____________________________ |
|Other: _______________________________________ |Verification Document: ____________________________ |
|Total: _______________________________________ | |
Current Debt Obligations (installment, credit card, alimony, child support)
|Total Amount: ________________________________ |Verification Document(s): __________________________ |
Monthly Debt to Income Ratio and/or Residual Income
|DTI: ____________ RI: ____________ | Verification Document: ____________________________ |
Credit History
|Comments: ___________________________________ |Verification Document: ____________________________ |
Type of Loan:
|_____ Non-QM |_____ Standard QM |_____ Special QM |
|_____ HUD (FHA) QM |_____ Small Creditor Portfolio QM |_____ Small Creditor Balloon QM |
Lender Comments: ______________________________________________________________________________________________________________________________________________________________________________________________________
|Lender: ________________________________________ | Date: _____________________________ |
This worksheet is intended to satisfy the minimum Ability to Repay requirements under §1026.43(c) of Regulation Z. Additional forms may be necessary to accommodate multiple applicants.
2/1/2014
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