FHA Net Tangible Benefit & Streamline Calculator

Effective April 18, 2011, the Federal Housing Administration (FHA), revised the underwriting requirements (rules) for the FHA streamline refinance program. The most notable change is the “net tangible benefit”. New FHA streamline loans originated after April 18, 2011 must demonstrate a 5 percent reduction to the principal and interest of the mortgage payment plus the annual mortgage insurance premium (MIP), or if refinancing from an Adjustable Rate Mortgage (ARM) to a fixed rate loan must either reduce the interest rate by at least 2% or be no greater than the current interest rate. Please send me an E-mail if you see an error or want to make a comment. Last updated 8/2018.

Net Tangible Calculator | UFMIP and MIP |

Loan Number
Case Number
Borrower Name
 
PASS or FAIL    
 
CURRENT AMORITIZATON TYPE  
PROPOSED AMORITIZATON TYPE
 
  CURRENT   PROPOSED
Amortization Term (Years)    
 
  CURRENT   PROPOSED
Enter 1st mortgage P & I payment    
Enter monthly mortgage insurance payment
 
T O T A L    
Difference  
 
  CURRENT   PROPOSED
Interest Rate  
MIP Rate (ie - .85)
Combined Rate
Combined Rate Difference:  
 
BENEFIT TESTS   RESULTS   CRITERIA
Any ARM with <15 Mos to Pmt Change to Fixed Rate New Combined Rate no more than 2% above the prior Combined Rate.
Any ARM with >=15 Mos to Pmt Change to Fixed Rate
Fixed Rate to Fixed Rate     New Combined Rate at least .5% below the prior Combined Rate.
Fixed Rate to 1 Yr ARM     New Combined Rate at least 2% below the prior Combined Rate.
Any ARM with >=15 Mos to Pmt Change to 1 Yr ARM
Fixed Rate to Hybrid (Fixed) ARM
Any ARM with <15 Mos to Pmt Change to 1 Yr ARM     New Combined Rate at least 1% below the prior Combined Rate.
Any ARM with <15 Mos to Pmt Change to Hybrid (Fixed) ARM
Any ARM with >=15 Mos to Pmt Change to Hybrid (Fixed) ARM
Reduction in Term     The mortgage term is reduced;
The new interest rate does not exceed the current interest rate;

AND

The combined principal, interest and MIP payment of the new Mortgage does not exceed the combined principal, interest and MIP of the refinanced Mortgage by more than $50

 
1. Are FHA loans assumable?

2. Are FHA loans good?

3. Are FHA loans only for first time home buyers?

4. Are there disadvantages of the FHA Home Loan?

5. Can a FHA loan be used for mobile home?

6. Can FHA loans have a cosigner?

7. Can I qualify for an FHA loan?

8. Can the down payment on FHA be a gift?

9. Can FHA down payment be a gift?

10. Can the lender pay my closing costs?

11. Can FHA loans be refinanced?

12. Can I buy foreclosure with FHA loan?

13. Can I get an FHA loan with bad credit?

14. Do FHA loans have points?

15. Do FHA loans require pmi?

16. Does the FHA allow seller rent back?

17. Does the FHA require cash reserves?
18. Can you remove pmi from an FHA loan?

19. Do FHA loans require pmi?

20. Do FHA loans require mortgage insurance?

21. Does FHA require collections to be paid off for a borrower to be eligible for FHA financing?

22. Does the FHA require termite inspection?

23. How do you know if a condo is FHA approved?

24. How many FHA loans can you have?

25. How much is the FHA down payment?

26. How To Stop An FHA Foreclosure

27. Is there an FHA inspection?

28. What are the benefits of an FHA mortgage?

29. What is the debt to income ratio for FHA loans?

30. What is the difference between conventional and FHA home loans?

31. What is the Federal Housing Administration?