Tangible Net Benefit Worksheet Template - Arizona Department Of Housing Page 2
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1
2ORIGINATOR TO COMPLETE
.
4.
The borrower will receive the following described tangible, net benefit through a refinancing of an
existing loan.
Please check every benefit that applies and pay careful attention to the Asterisks *.
Product Change
Second review required if loan is a refinance of a “Special Mortgage” i.e. Habitat for Humanity,
state bond program etc.
Refinance to lower interest rate with the same or reduced term as the original loan.
Refinancing of a balloon loan.
Converting from an adjustable rate to a fixed interest rate.
Refinance of an Interest Only or Payment Option ARM loan into a fully amortized mortgage
that requires principal reduction with each payment.
Financial Improvement
Consolidating other high rate loans and debts into a single low rate loan. Will the new total
monthly payment be lower than the total of all monthly obligations being financed, taking into
account points and fees?______________
**
Making the balloon payment on an existing mortgage loan.
Avoiding foreclosure under the terms of an existing mortgage loan.
Cure delinquent debts secured by the subject property that could result in the loss of the
property. (For example: tax liens, judgment, Bankruptcies, etc.)
**
Ability to remove mortgage insurance by lowering loan-to-value (LTV).
Cash Out Benefits
**
The borrower will receive cash-out from the new loan to pay necessary expenses such as:
Home improvement
**
Medical expenses
**
Other: ____________________
Education expenses
**
Title Transfer Benefits
Payoff of a Contract for Deed or Refinance of a lease option or Removal or buyout of co-
borrower from title with court order or evidence that the co-borrower no longer resides at the
property.
**
Program requirements may not allow.
Signatures - Required in order to process
.
5.
Preparer/Lender
Signature: __________________________________________ Date: ___________________
Signature: __________________________________________ Date: ___________________
Borrower Certification Signature:
Borrower
:_________________________________________ Date: ___________________
(1)
Borrower
: _________________________________________ Date: ___________________
(2)
Arizona Home Foreclosure Prevention Corporation – Save Our Home AZ Program
1110 West Washington, Suite 310, Phoenix, Arizona 85007
Telephone: (602) 771-1000
Page 2 of 2
TNBW rev 01/15/2016
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