| |
|
BANK
LOAN
(Based on a 15 year Loan at 9%) |
BONDS
(Based on 15 year repayment schedule at 9%) |
| 1 |
Total Annual Income From Undesignated |
|
|
| 2 |
Gross Monthly Income (Annual Income/Monthly
Average) |
divide line 1 by 12 =
|
divide line 1 by 12 =
|
| 3 |
Maximum Amount Lender Allows for Monthly Mortgage
Payments/Debt Service |
multiply line 2 by .25 (25%) =
|
multiply line 2 by .35 (35%) =
|
| 4 |
Projected Amount Your Church can Borrow |
multiply line 3 by 95.693 =
|
multiply line 3 by 100.00) =
|
| 5 |
Price of Facility Your Church can Buy (Including
30% Down Payment) |
divide line 4 by .70 =
|
divide line 4 by .70 =
|
| 6 |
Cash Down Payment Required |
multiply line 5 by .30 =
|
multiply line 5 by .30 =
|