LoanVibe Worksheet - Mr Bill Thompson

July 5, 2004
Mr Bill Thompson 45 Norway Street Carson, CA 90302 Dear Mr Bill Thompson, Interest rates are at the their lowest point in decades meaning now is the best time to refinance. With the information you have provided about your existing mortgage (below), We are prepared to offer new financing that will save thousands of dollars over the long term of your home loan. The tables below will show savings highlights with greater financing details in the pages that follow.
Financing Analysis
Options	Terms	Rate	Loan Amount	Payment	Fees	ROR	T. Costs†
Existing Loan	29 year fixed rate	6.000%	$235,254	$1,433	$0	N/A	$106,044
Loan 2	30 year fixed rate	4.750%	$240,000	$1,252	$3,600	20	$85,530
Loan 3	30 year adjustable rate	3.875%	$240,000	$1,129	$1,200	4	$112,155
Loan 4	30 year fixed rate	4.875%	$240,000	$1,270	$2,400	15	$86,598

	†BOTTOM LINE By the end of year 8, loan 2 total costs are the lowest by $26,625.


Let's take a look at how a few extra dollars per month added to your monthly payment will save substantial interest costs. The term of your loan could also be dramatically reduced.

Term Reduction Evaluation
	Terms	Loan Amount	Payment	Add to Pmt	Ttl Pmt	New Term	Ttl Savings*
Existing Loan	29 year fixed rate	$235,254	$1,433	$0	$1,433	345	N/A
Loan 2	30 year fixed rate	$240,000	$1,252	$150	$1,402	287	93,663
Loan 3	30 year adjustable rate	$240,000	$1,129	$150	$1,279	279	30,505
Loan 4	30 year fixed rate	$240,000	$1,270	$150	$1,420	287	90,220

*Savings based on total costs accumulated by the last payment of each loan

The following pages will provide a detailed description of each loan considered as well as performance estimates. If you have any questions please call me at 310-555-1234. Thank you for considering ACME Mortgage. Sincerely, Joe Officer

Closing Cost Estimate
Anticipated Interest Rate		4.750%
Estimated Property Taxes		$0
If Purchase: Sales Price of Home
If Refinance: Estimated Value of Home		$0
Down Payment (If Purchase)
Loan Amount Requested		$240,000
Amount Due Seller (Purchase) / Loan Amount (Refinance)	$240,000

Broker/Lender Items Payable
Origination Fee	1.50%	$3,600
Discount Fee	0.00%	$0
Appraisal Fee (Paid at application on purchase / paid to appraiser on refinance)		$275
Credit Report		$19
Processing Fee (Paid at Closing)		$250
Application Fee (Paid at application, applied to processing at closing)		$150
Lender Review /Admin/Underwriting Fee		$450
Wire Transfer Fee		$35
Total Broker / Lender Fees		$4,629

Third Party Fees
Tax Service Fee		$75
Flood Certification		$20
Courier Fees (if required to deliver package)		$20
Escrow / Lender's Attorney		$600
Total Third Party Fees		$715

Recording & Transfer Fee
Recording Fee (Varies based on county, number of pages to be recorded, etc)		$200
Local Tax		$0
State Tax		$1,663
Municipal Fees		$1,863
Estimated Fees At Submission (FAS) / Close of Escrow (COE)		$7,207

Title Charges
Title Insurance - Owner	Title charges vary based on numerous factors. Estimated title charges will be included in the Good Faith Estimate provided with the "Needs Letter"
Title Insurance - Lender
Simultaneous Title Charge
Survey Endorsement
Survey Inspection
Title Search & Examination

Pre-Paid Items
Per - Diem Interest (Estimated 15 Days)		$468
Homeowner Insurance Policy (1Year)		$0
Property Tax Escrow (Estimated 3 Months)		$0

Escrows Deposited with Lender
Hazard Insurance (Estimated 2 Months)		$0
Property Taxes (Estimated 2 Months)		$0

Estimated Closing Costs		$7,675
NOTES
Additional charges may include: Seller Adjustments, Borrower Attorney Fee, Mortgage Insurance Premium if LTV is >80%, Fully Paid-up for 1 YR Homeowners Insurance Policy
Processing and Application fees are paid to ACME Mortgage. All other fees are third party fees and by law cannot be marked up. Whatever the fee is that is what will be passed on to the borrower.
This report is for informational purposes only and is not a Good Faith Estimate. Actual fees may vary.
Rates and fees subject to change without notice.

prepared for:	prepared by:
Mr Bill Thompson 45 Norway Street Carson CA 90302 310-555-1234, 310-555-6547 thompson@loanvibe.com	Joe Officer ACME Mortgage 1234 Main Street Torrance, CA 90503 310-555-1234, 310-555-6525 joe@perfectfinancial.com


Transaction Descriptions	Loan 1	Loan 2	Loan 3	Loan 4

Loan Name:	Standard Fixed	Standard Fixed_copy	Std 1/6 Arm	Typical Fixed
Lender Name:	In House	In House	In House	In House
Type:	29 year FIXED	30 year FIXED	30 year ARM	30 year FIXED

Start Rate:	6.000%	4.750%	3.875%	4.875%
Points:	0.000%	1.500%	0.500%	1.000%
Adjustable Description: [adjs,caps]	Fixed	Fixed	6, 1.00%/10.38%	Fixed

APR:	6.00%	4.88%	6.53%	4.96%
Loan Amount:	$235,254	$240,000	$240,000	$240,000
Closing Costs:	$0	$3,600	$1,200	$2,400

Last Payment Month:	345	287	279	287
Return on Refinance- Costs [ROR]:	0	31	6	24
Total Return on Refinance- Costs [TRR]:	$0	$97,264	$31,705	$92,620

Return on Refinance- Payment:	0	20	4	15
Total Return on Refinance- Payments:	$0	$138,545	$69,725	$132,137
Income Required to Qualify:	$5,048	$4,411	$3,645	$5,275

Qualify Ratios:	16/20%	14/17%	13/16%	15/18%
Start Payment [PITI]:	$1,666	$1,456	$1,312	$1,477
Refinance Cash-Out:	$0	($17,124)	($14,724)	($15,924)

Debt Payment / Balance:	$1,363 / $34,322	$1,363 / $34,322	$1,363 / $34,322	$1,363 / $34,322
To Be Paid- Debt Payment / Balance:	$1,050 / $18,270	$1,050 / $18,270	$1,050 / $18,270	$1,050 / $18,270
Borrower's Monthly Income:	$10,125	$10,125	$10,125	$10,125

Borrower's Tax Bracket:	37%	37%	37%	37%
Adjustment- Add to Payment Amount:	$0	$150	$150	$150

prepared for:	prepared by:
Mr Bill Thompson 45 Norway Street Carson CA 90302 310-555-1234, 310-555-6547 thompson@loanvibe.com	Joe Officer ACME Mortgage 1234 Main Street Torrance, CA 90503 310-555-1234, 310-555-6525 joe@perfectfinancial.com


Worksheet	Loan 1	Loan 2	Loan 3	Loan 4
Evaluation for month: 004
Accum Payment	$5,730	$5,608	$5,114	$5,680
Accum Tax Benefits	$1,738	$1,402	$1,143	$1,439
Balance	$234,221	$238,181	$237,976	$238,209
Balance Compare	compare with	higher by $3,961	higher by $3,755	higher by $3,988
Evaluation for month: 015
Accum Payment	$21,489	$21,029	$20,873	$21,301
Accum Tax Benefits	$6,477	$5,202	$5,109	$5,340
Balance	$231,271	$233,030	$232,934	$233,130
Balance Compare	compare with	higher by $1,758	higher by $1,663	higher by $1,859
Evaluation for month: 020
Accum Payment	$28,652	$28,039	$28,952	$28,402
Accum Tax Benefits	$8,612	$6,901	$7,333	$7,085
Balance	$229,876	$230,613	$230,868	$230,746
Balance Compare	compare with	higher by $737	higher by $992	higher by $870
Evaluation for month: 084
Accum Payment	$120,340	$117,764	$137,339	$119,288
Accum Tax Benefits	$34,654	$26,948	$36,140	$27,689
Balance	$208,574	$195,067	$200,338	$195,547
Balance Compare	compare with	lower by $13,507	lower by $8,236	lower by $13,027
Evaluation for month: 096
Accum Payment	$137,532	$134,588	$157,662	$136,330
Accum Tax Benefits	$39,236	$30,314	$41,053	$31,153
Balance	$203,766	$187,343	$193,293	$187,868
Balance Compare	compare with	lower by $16,424	lower by $10,473	lower by $15,898
Evaluation for month: 279
Accum Payment	$399,702	$391,145	$467,581	$396,208
Accum Tax Benefits	$90,581	$59,777	$84,100	$61,499
Balance	$80,366	$10,415	$0	$10,006
Balance Compare	compare with	lower by $69,951	lower by $80,366	lower by $70,360
Evaluation for month: 287
Accum Payment	$411,163	$402,361	$467,581	$407,569
Accum Tax Benefits	$91,717	$59,843	$0	$61,561
Balance	$71,974	$0	$0	$0
Balance Compare	compare with	lower by $71,974	lower by $71,974	lower by $71,974
Evaluation for month: 345
Accum Payment	$494,255	$402,361	$467,581	$407,569
Accum Tax Benefits	$95,831	$0	$0	$0
Balance	$0	$0	$0	$0
Balance Compare	compare with	higher by $0	higher by $0	higher by $0

prepared for:	prepared by:
Mr Bill Thompson 45 Norway Street Carson CA 90302 310-555-1234, 310-555-6547 thompson@loanvibe.com	Joe Officer ACME Mortgage 1234 Main Street Torrance, CA 90503 310-555-1234, 310-555-6525 joe@perfectfinancial.com


Chart
Chart based on Accum Payment