Continuing on the excellence started by UberWriter, the team has added helpful calculators for Solvency, Comparative Income Analysis, LP Open Access, and Cash To Close. These helpful calculators will save you time and money. The best part, is that they are free to use. No login required.
The Solvency (or acid test) calculator is for self employed borrowers who report earnings on 1065, 1120, or 1120S tax forms. This calculator grades how well a company could pay its current debts using only liquid assets. A ration greater than 1.0 indicates the company is solvent.
The Comparative Income Analysis (aka FNMA 1088) looks at the performance of Schedule C, 1065, 1120, and 1120S over a three year period to determine the overall income trend. The trend can be increasing, decreasing, or neutral.
The Cash to Close calculator does just what it says. Simply provide the calculator the details about the loan, escrow, closing costs, as well as a few other items, and the calculator will determine your cash required to close the loan.
Lastly we have the LP Open Access calculator. This calculator is the quick way to determine what the final loan amount needs to be based on the LP Open Access rules
We really hope that people find these calculators useful. UberWriter is striving to be the primary resource for all people in the mortgage industry when it comes to calculators, tools, and analysis. Enjoy.
~The UberWriter Team