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Qualifying Buyers

PITI = Qualifying Ratio X Gross MONTHLY income

Discount Points

Dollar amount of points = Points % X Loan Amount

Prorating rent

monthly rent / # days in month = daily rent

Prorating Interest

Loan Amount X Interest Rate % = Annual Interest
365 or 360
Amount per day

Prorating Taxes

Appraised Value X Tax Rate % = Annual Tax
365 or 360
Amount per day

Income Properties

Net income (Gross - expenses) = CAP rate X Market Value

Gross Rent Multiplier (GRM)

Value of property = GRM# X Monthly Rent

Annual Tax

Annual Tax = (tax rate/$100) X Appraised Value

Annual Interest

Annual Interest = APR X Loan Amount Principal

Monthly Payments

Monthly payments = (Interest rate factor/1000) X Loan Amount

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