Mortgage Sample Sheet

Worksheet 1
Monthly Income (before taxes)

Borrower Co-Borrower Total

Base employmentincome $ _______ $ _______ $ _______
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 $ _______


Worksheet 2
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 = ___________