The software can be an excellent learning tool and development aid for bankers, community groups, government agencies, and community development practitioners interested in providing affordable housing loans. While the Federal Reserve System does not endorse any specific underwriting criteria, we hope the software will assist institutions in developing safe and sound loan programs that offer the flexibility and innovation to meet local home mortgage credit needs. Secondary market considerations are presented for those interested in determining the approximate premium or discount on loans sold in the secondary market. Amortization schedules can be produced for fixed-rate monthly payment loans. Equity build-up computations can be developed to educate users, homebuyers, and lenders on the amount of equity buildup provided through loan repayments.
Partners calculates the applicant's current potential without any subsidies or grants.
Reducing debts or increasing income, when possible, can help applicants qualify. Partners computes the amounts. Changing underwriting criteria, such as debt ratios, interest rates, or down payments can qualify applicants. Partners provides the calculations. When subsidy loans or grants are needed, Partners determines the exact amounts.