Get Mortgage Shopping Worksheet Excel
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How to fill out the Mortgage Shopping Worksheet Excel online
The Mortgage Shopping Worksheet Excel is a valuable tool for users seeking to compare different mortgage options. This guide provides clear instructions on how to fill out the worksheet effectively, ensuring you gather all necessary information to make informed decisions.
Follow the steps to complete the Mortgage Shopping Worksheet effectively.
- Click the ‘Get Form’ button to access the Mortgage Shopping Worksheet and open it in your online editor.
- Begin by entering the details for Lender 1 and Lender 2 in the designated sections. Include the name of each lender and the contact information of a representative.
- Fill out the Basic Information About the Loan section. Specify the type of loan by selecting from options such as Fixed Rate, Variable Rate, or Conventional, among others. Additionally, input the mortgage amount, minimum down payment, loan term, contract interest rate, and annual percentage rate (APR).
- Indicate if points apply and provide the estimated monthly payment. If your monthly payment includes escrow for taxes and insurance, specify the amount allocated for escrow as well.
- In the Fees section, document various lender fees such as origination or underwriting fees, broker fees, application or loan processing fees, and any other relevant fees. Make sure to list all applicable fees for each lender.
- Continue to Other Closing or Settlement Costs. Note costs such as title search, title insurance, state and local taxes, and any surveys or inspections required. Total these costs.
- Address Other Questions & Considerations about the loan. Record any prepayment penalties, the length of such penalties, and other details pertaining to the loan terms like balloon payments or rate lock options.
- Once all fields are completed, review your entries for accuracy and completeness.
- Finally, save changes to your document. You can also choose to download, print, or share the completed worksheet for your records or consultations.
Start using the Mortgage Shopping Worksheet online to compare mortgage options and make informed decisions.
The rate argument is the interest rate per period for the loan. For example, in this formula the 17% annual interest rate is divided by 12, the number of months in a year. The NPER argument of 2*12 is the total number of payment periods for the loan. The PV or present value argument is 5400.
Fill Mortgage Shopping Worksheet Excel
Use this Mortgage Shopping Worksheet to help you compare loans and prepare to negotiate for the best deal. You can reuse this worksheet to compare multiple mortgage quotes. Easy to use, downloadable Excel calculators that will help you to smash down those mortgage payments. Maximum Mortgage before UFMIP not to exceed statutory limit. These calculator templates can help you with your mortgage, loans, budgeting, and more.
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