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  • Multi-state Borrower Benefit Worksheet. Multi-state Borrower Benefit Worksheet

Get Multi-state Borrower Benefit Worksheet. Multi-state Borrower Benefit Worksheet

MULTI-STATE BORROWER BENEFIT WORKSHEET The f ollowing w orksheet must be used on all refinance transactions, except for a refinance into a payment option loan. A dditional information may be provided.

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Loan #: MIN: This worksheet is to be used in the determination of a borrower's tangible net benefit as the benefit relates directly to the new loan extended. Additional information may be provided on supplemental sheets or on the reverse if the fields below are insufficient.

FHA defines a net tangible benefit as the mortgage payment dropping by at least 5%. The reduction must factor in principal, interest, and mortgage insurance. For example, a borrower currently has a 30 year fixed note rate at say 5% on a $200,000 loan.

A state specific NTB test will be required in CO*, MA, MD, ME, RI, SC, VA and WV.

Benefit to the borrower Fannie Mae requires borrowers to get a material benefit from the mortgage refinance — also known as a net tangible benefit.

A tangible net benefit (alternatively referred to as a “net tangible benefit”) can be thought of as the financial advantage a client gains by refinancing.

The Lender must determine that there is a net tangible benefit to the Borrower meeting the standards in the applicable chart below for Streamline Refinance transactions without a reduction in term. Fixed Rate Refinance At least 0.5% points below the prior Combined Rate. At least 2% points below the prior Combined Rate.

Moving From An ARM To A Fixed-Rate Mortgage The first instance where refinancing would have a tangible net benefit would be switching from an adjustable rate mortgage (ARM) to a fixed-rate mortgage.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232