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Occupancy Outstanding UPB Monthly PITIA Reserves Calculations<br />
Subject: Investment $78,750 $776 6 Months PITIA $4,656<br />
Principle Residence $0 $179 N/A $0<br />
Investment<br />
Property $87,550 $787 6% of UPB $5,253<br />
Investment<br />
Property $142,500 $905 6% of UPB $8,550<br />
Investment<br />
Property $84,950 $787 6% of UPB $5,097<br />
Investment<br />
Property $30,300 $412 6% of UPB $1,801<br />
Second Home $124,500 $837 6% of UPB $7,470<br />
Investment<br />
Property $160,000 $1,283 6% of UPB $9,600<br />
Total Balances $629,530 Total Reserves Required $42,427<br />
The aggregate UPB calculation does not include the mortgages and<br />
HELOCs that are on<br />
• the subject property,<br />
• the borrower’s principal residence,<br />
• properties that are sold or pending sale, and<br />
• accounts that will be paid <strong>by</strong> closing.<br />
The subject property will still have monthly reserve requirements based<br />
on the total mortgage payment (PITI). Reserves are funds that you have<br />
access to liquid or non-liquid. Reserves are funds you need to have after the<br />
closing your transaction. Funds for reserves cannot be your funds for down<br />
payment or closing cost.<br />
Can I use Gift Funds for My Investment Property <strong>Loan</strong>?<br />
A borrower of a mortgage loan secured <strong>by</strong> a principal residence or<br />
second home may use funds received as a personal gift from an acceptable<br />
donor. Gift funds may fund all or part of the down payment, closing costs, or<br />
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