TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 1050 RESIDENTIAL MORTGAGE LICENSE ACT OF 1987
SECTION 1050.APPENDIX B MORTGAGE RATIO WORKSHEET
Section 1050.APPENDIX B Mortgage Ratio Worksheet
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.
MONTHLY HOUSING EXPENSES:
MONTHLY GROSS INCOME:
Note: This is the percentage of your gross monthly income that will be allocated to your mortgage expenses.
LONG-TERM DEBT RATIO
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.
(Source: Amended at 29 Ill. Reg. 14808, effective September 26, 2005)