The easiest way to input mortgage financing terms is to use the A vector elements 61 through 69 as follows:
first second mortgage mortgage Amount (or loan to value ratio) AVI AVI Interest rate AVI AVI Term in years (0=interest only) AVI AVI Months until balloon AVI AVI Which participant holds mortgage entity 2 AVI
Except in the case of low and moderate income housing, mortgage amount is determined by the value of the project. Mortgage amounts can be entered as a decimal; ProCash© will then calculate mortgage amounts based on value determined with a capitalization rate entered as AVI. The capitalization rate is applied to net available for debt service.
If the capitalization rate (AVI) is zero, and mortgage amounts are entered as decimals, then mortgage amounts will be determined as a decimal of cost. Setting AVI to 1 will also force mortgage amounts to be determined as a function of cost, not value.
|AVI||1st mortgage loan to value Ratio or $ Amount||551||3|
|AVI||1st mortgage interest rate||551||3|
|AVI||1st mortgage term in Years (0=interest only)||551||3|
|AVI||2cd mortgage interest rate||551||3|
|AVI||2cd mortgage term in years (0=interest only)||551||3|
|AVI||1st mortgage months Til Balloon||551||2|
|AVI||Who provides 2nd mortgage (see AVI[ 65])||551||2|
|AVI||2cd mortgage months til balloon||551||1|