Tangible Net Benefit Worksheet Template
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1
2Tangible Net Benefit Worksheet
*(THIS IS A GENERIC COPY OF THIS FORM ONLY)*
Pursuant to the Georgia Fair Lending Act no creditor may engage in the unfair act or practice of
flipping a home loan. Flipping may occur when a creditor refinances an existing home loan that was
consummated within the prior five years when the new loan does not provide a reasonable, tangible net
benefit to the borrower considering all of the circumstances, including the terms of both the new and
refinanced loans, the cost of the new loan, and the borrower’s circumstances. In addition, the home loan
financing transaction could be presumed to be a flipping where a home loan refinances an existing home
loan that was consummated within the prior five years and that is a special mortgage originated,
subsidized, or guaranteed by or through a state, tribal, non profit organization or local government which
either bears a below-market interest rate at the time the loan was originated or has nonstandard payment
terms beneficial to the borrower, such as payments that vary with income, are limited to a percentage of
income or where no payments are required under specified conditions and where, as a result of the
refinancing, the borrower will lose one or more of the benefits of the special mortgage.
The following worksheet will be used in determining the borrower’s tangible net benefit(s) as the
benefit relates directly to the new loan extended.
Originating Company ______________________________________________________________
Originating Company License # _______________________________________________________
Originator/Processor Name ___________________________________________________________
Borrower(s) Name(s) _______________________________________________________________
Property Address
__________________________________________________________________
Loan Information
New Loan
Previous Loan
Loan Date
__________________
____________________
Loan Amount
____________________
____________________
Loan Term
____________________
____________________
Type Of Loan
Fixed Rate ARM
Balloon
Fixed Rate ARM Balloon
(circle one)
Type of Loan
FHA
VA
CONV.
FHA
VA
CONV.
(circle one)
Cash Required at Closing
$ __________________
Interest Rate
_____________________
____________________
Principal & Interest
$_____________________
$___________________
Taxes & Insurance
$_____________________
$___________________
Mortgage Insurance
$_____________________
$___________________
Prepayment Penalty Provision
_____________________
___________________
Special Loan as described above
(circle one)
YES OR NO
Broker/Lender
_______________________
_____________________
Servicer
_____________________
___________________
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