Pre-Qualification Worksheet
Name:Lynn Johnson
Line Item Balance Minimum Payment
1
2 student loan
3
4
5 total credit card/debt
6 300
7 1300
8
9
10
11
12
13
14
15 45
28 60
29
30
$1,600.00 $105.00
Total Debt Total Monthly Debt Payments
Gross Monthly Income #1 $2,000.00 Saved Funds
Gross Monthly Income #2 Reserves Amount
Gross Monthly Income #3
Gross Monthly Income #4
Total Gross Monthly Income $2,000.00 # of Reserves (monthly) 0.00
Total Annual Income $24,000.00 DTI (annual) 6.67%
Debt Ratios Maximum PITI FICO
Front End/Housing 42% $840.00
Back End/DTI 45% $852.75
Borrower's DTI 5.25% Eligible

Client Summary LAUSD
Family Size Income Purchase Price Employed? DTI FICO
2 $24,000 $450,000 Yes 5% 0
Eligible? Program Name
CalHFA Low Income / 30, 40 Year Fixed; Interest Only (IO); Housing Assistance Program (CHAP)
Yes
CalHFA Mod Income / 30, 40 Year-Fixed; Interest Only (IO); Housing Assistance Program (CHAP)
Yes
CalHFA Extra Credit Teachers Program (ECTP)
Yes
CalHFA California Homebuyer's Down Payment Assistance Program (CHDAP)
Yes
Los Angeles County - American Dream Down Payment Initiative (ADDI) / Homeownership Program (HOP)
Yes
City of Los Angeles - Low Income
Yes
City of Los Angeles - Mod Income 120
Yes
City of Los Angeles - Mod Income 150
Yes
Opportunity One
No
Opportunity Extra Credit

Prequalification Summary
Applicant(s) Name:
Appraised Value or After-Rehab Value (if applicable)
Sales Price of Home $300,000
Buyer's Closing Costs $9,000
Seller Credit/Lender Credit/Agent Credit (LIST AS NEGATIVE) ($3,000)
TOTAL FUNDS NEEDED TO CLOSE $306,000
SOURCES OF FUNDS
1% Homebuyer's Down payment (1% or 3%) $3,000
Homebuyer's Additional Cash Contribution (80% assets rule or other cash) $0
FIRST MORTGAGE CALCULATION
Monthly Income (per 1st mortgage underwriting) $3,000
42.00% Back-End Ratio $1,260
(Less Property Taxes) ($313)
(Less Est. Hazard Insurance) ($63)
Available for 1st TD $885
Monthly Debt (LIST AS NEGATIVE) ($600)
Mortgage Insurance (If Applicable, LIST AS NEGATIVE) $0
HOA Fee (If Applicable, LIST AS NEGATIVE) $0
Max. Monthly Available for 1st TD $285
5.790% Interest Rate for 1st Mortgage
30 Loan Term in Years
TYPE AMOUNT
Other Loan Funds (Specify) A $90,000
Other Loan Funds (Specify) B
Other Loan Funds (Specify)
Other Loan Funds (Specify)
GRANT FUNDS (Specify)
GRANT FUNDS (Specify)
WITHOUT MCC
MAXIMUM FIRST MORTGAGE $48,600
Homebuyer's Contribution $3,000
Total All Other Funding Sources $90,000
Subtotal of Funds Available $141,600

Purchase Gap $158,400
Closing Cost (Max. 4% of Sales Price) $6,000
TOTAL GAP $164,400
ADDI Loan Formula (Lower of Total Gap or 6% of Sales Price) $18,000
TOTAL LAHD ADDI LOAN (As adjusted if necessary) $18,000
TOTAL FUNDS AVAILABLE $159,600
SURPLUS/(SHORTFALL) -$146,400
WITH MCC
20% MCC Credit (15% or 20%)
Max. Monthly Available for 1st TD $285
Approximate Yearly MCC Credit $563 $47
New Max. Monthly Available for 1st TD $332
MAXIMUM FIRST MORTGAGE $56,600
Homebuyer's Contribution $3,000
Total All Other Funding Sources $90,000
Subtotal of Funds Available $149,600
Purchase Gap $150,400
Closing Cost (Max. 4% of Sales Price) $6,000
TOTAL GAP $156,400
ADDI Loan Formula (Lower of Total Gap or 6% of Sales Price) $18,000
TOTAL LAHD ADDI LOAN (As adjusted if necessary) $18,000
TOTAL FUNDS AVAILABLE $167,600
SURPLUS/(SHORTFALL) -$138,400

LTV: 16.20%
CLTV: 52.20%
LAHD Shared Appreciation: 6.00%
LTV: 18.87%
CLTV: 54.87%
LAHD Shared Appreciation: 6.00%

Gap Financing/Government Subsidy Programs
CalHFA - Low Income ADDI/HOP
Family Size Income Purchase Price Family Size Income
1 $53,280 $728,710 1 $38,800
2 $53,280 $728,710 2 $44,350
3 $61,272 $728,710 3 $49,900
4 $61,272 $728,710 4 $55,450
5 $61,272 $728,710 5 $59,900
6 $61,272 $728,710 6 $64,300
7 $61,272 $728,710 7 $68,750
8 $61,272 $728,710 8 $73,200
Cal HFA - Mod Income City of LA - Low Income
Family Size Income Purchase Price Family Size Income
1 $88,800 $728,710 1 $41,450
2 $88,800 $728,710 2 $47,350
3 $103,600 $728,710 3 $53,300
4 $103,600 $728,710 4 $59,200
5 $103,600 $728,710 5 $63,950
6 $103,600 $728,710 6 $68,650
7 $103,600 $728,710 7 $73,400
8 $103,600 $728,710 8 $78,150
CalHFA - CHDAP City of LA - Mod 120 Income
Family Size Income Purchase Price Family Size Income
1 $47,500 $728,710 1 $62,150
2 $54,200 $728,710 2 $71,050
3 $61,000 $728,710 3 $79,900
4 $67,800 $728,710 4 $88,800
5 $73,200 $728,710 5 $95,900
6 $78,600 $728,710 6 $103,000
7 $84,100 $728,710 7 $110,100
8 $89,500 $728,710 8 $117,200
City of LA - Mod 150 Income
Family Size Income
1 $77,770
2 $88,800
3 $99,900
4 $111,000
5 $119,900
6 $128,750
7 $137,650
8 $146,500

Interest Rates
CalHFA
Purchase Price 30-year Fixed
$493,000 Low Income 5.750%
$493,000 Moderate Income 6.125%
$493,000 ECTP 5.750%
$493,000 40-year Fixed 6.250%
$493,000 Interest Only 35-year Fixed 6.250%
$493,000 CHAP 6.750%
$493,000 CHDAP 3.000%
$493,000 ECTP 5.000%
Background Work
CHAP $13,500
Purchase Price CHDAP
$530,100 HOP $90,000
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
Purchase Price
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
Purchase Price
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100
$530,100