Section 1050

Section 1050.APPENDIX B Mortgage Ratio Worksheet

Part I

LOAN-TO-VALUE RATIO

1. Mortgage Amounts	$

2. Appraised Value	$

3. Line 1 divided by Line 2	$

Note: This is the percentage of the purchase price/appraised value of your home that will be allocated to your total mortgage. A percentage rate over 80% may result in you incurring additional costs.

Borrower's Signature

Part II

INCOME RATIO

MONTHLY HOUSING EXPENSES:

1. Principal and Interest Payment	$
2. Homeowner's Insurance
3. Real Estate Tax
4. Mortgage Insurance Premium
5. Homeowner's Association Fee
6. Ground Rents
7. Payments on Existing or Proposed 2^nd Mortgage
8. Total Housing Expense (Add Lines 1 through 7)		$

MONTHLY GROSS INCOME:

9. Gross Salary	$
10. Dividends/Interest
11. Social Security/Pension
12. Alimony/Child Support
13. Other
14. Total Gross Income		$
15. Divide Line 8 by Line 14

Note: This is the percentage of your gross monthly income that will be allocated to your mortgage expenses.

Part III

LONG-TERM DEBT RATIO

MONTHLY EXPENSES:

1. Total Housing Expense (Part II, Line 8)	$
2. Credit Cards
3. Car Payments
4. Loans (Not Included on Line 1 or 3)
5. Alimony/Child Support
6. Total Expenses (Lines 1 through 5)		$

MONTHLY INCOME:

7. Total Gross Income (Part II, Line 14)			$
8. Divide Line 6 by Line 7

Note: This is the percentage of your gross monthly income that will be allocated to your mortgage expenses and other debt that you pay on a monthly basis.

Borrower's Signature

(Source: Amended at 29 Ill. Reg. 14808, effective September 26, 2005)