Calculator

Kentucky Housing Corporation's Section 8 HAP Amount Calculator

Loan Information:
Mortgage Amount:	$
*Interest Rate:	%

*Housing Authority Information:
Payment Standard Provided by Housing Authority:	$
Section 8 - 30% Calculation:	$
Section 8 - 40% Calculation:	$
Utilities:	$
*Housing Authority provides

Payment Information:
Monthly P&I:	$
Property Taxes:	$
Hazard Insurance:	$
Mortgage Insurance:	$
Other:	$
Total Monthly Payment:	$

Income:
Borrower Monthly Gross Income: (Do not include HAP)	$
Co-Borrower Monthly Gross Income:	$
Other Monthly Gross Income:	$
Total Monthly Income:	$

Debt:
Auto Loans:	$
Student Loans:	$
Credit Cards:	$
Other Debt:	$
Total Monthly Debt Payments:	$

Solution:

Total Monthly Payment:

Actual HAP Payment:

Borrower's Monthly Housing Payment:

	HAP as Income (All products)	HAP as PITI Reduction
Gross Income Ratio
Debt Ratio

HAP payment applied as income indicated above assume a 25% gross up of the actual HAP Payment to be received.

Borrower must meet general underwriting and credit standards.

Housing Authority providing assistance has final authority in determing the actual HAP Payment.