An affordability analysis that is based on a
what-if scenario. A what-if analysis is useful if you do not
have complete data or if you want to explore the effect of
various changes to your income, liabilities, or available
funds or to the qualifying ratios or down payment expenses
that are used in the analysis.
A change in the amounts that is used as the basis of an affordability
analysis. A what-if scenario can include changes to monthly
income, debts, or down payment funds or to the qualifying
ratios or down payment expenses that are used in the analysis.
You can use a what-if scenario to explore different ways to
improve your ability to afford a house.
A mortgage that includes the remaining balance on an existing
first mortgage plus an additional amount requested by the
mortgagor. Full payments on both mortgages are made to the
wraparound mortgagee, who then forwards the payments on the
first mortgage to the first mortgagee.