Net Tangible Benefit Worksheet Template printable pdf download

Net Tangible Benefit Worksheet Template

MARYLAND COMMISSIONER OF FINANCIAL REGULATION

NET TANGIBLE BENEFIT WORKSHEET

Borrower(s):

Loan Number:

Lender/Broker:

Date:

I/We, the undersigned borrower(s), plant to enter into a transaction which refinances one or more

existing loans with a new mortgage loan secured by my/our home located at:

Address ________________________________________________________________

City ______________________

State ________________ Zip Code _____________

Lender/Broker

Name __________________________________________________________________

Address ________________________________________________________________

City ______________________

State ________________ Zip Code ____________

Direct Tel# ________________________ Toll Free # ___________________________

Fax ______________________________ Email _______________________________

I/We acknowledge that:

I/We understood 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.

Net Tangible Benefit Worksheet Template