Net Tangible Benefit Worksheet Template (Page 2 of 2) in pdf

Net Tangible Benefit Worksheet Template Page 2

I/We acknowledge that:

I/We understand the costs associated with the new loan;

The new loan may have different terms (including duration of term and rate of interest) than my/our

existing loan(s); and

The new loan will provide a reasonable, tangible net benefit to me/us after taking into account the terms

of both the new and existing loan(s), the cost of the new loan, and my/our particular circumstances.

By refinancing my/our existing loan(s), the following benefits apply to me/us (each borrower should initial any

benefit that applies):

______

______ Obtaining a lower interest rate.

______

______ Obtaining a lower monthly payment, including principal, interest, taxes, and insurance.

______

______ Obtaining a shorter amortization schedule.

______

______ Changing from an adjustable rate to a fixed rate.

______

______ Eliminating a negative amortization feature.

______

______ Eliminating a balloon payment feature.

______

______ Receiving cash-out from the new loan in an amount greater than all closing costs incurred in

connection with the loan.

______

______ Avoiding foreclosure.

______

______ Eliminating private mortgage insurance.

______

______ Consolidating other existing loans into a new mortgage loan.

______

______ Other (please specify): ________________________________________________________

__________________________________________________________________________

I/We have considered the terms of both the existing and new loans, the cost of the new loan, and my/our

personal circumstances. I/We believe the overall benefits of the new loan make the new loan beneficial to

me/us for the reason or reasons identified above. By signing below, I/we certify that I/we have read and

understand this Net Tangible Benefits Worksheet.

Borrower: ____________________________________________

Date: _____________________

Borrower: ____________________________________________

Date: _____________________

NTBW

Page 2

Rev. 11/12/08

Net Tangible Benefit Worksheet Template Page 2