Tangible Net Benefit Worksheet - Arizona

Tangible Net Benefit Worksheet is a legal document that was released by the Arizona Department of Housing - a government authority operating within Arizona.

FAQ

Q: What is a Tangible Net Benefit Worksheet?A: A Tangible Net Benefit Worksheet is a document used in Arizona to evaluate the financial benefit of refinancing a mortgage.

Q: Why is a Tangible Net Benefit Worksheet required?A: In Arizona, a Tangible Net Benefit Worksheet is required by state law to ensure that borrowers receive a financial benefit from refinancing their mortgage.

Q: What does the Tangible Net Benefit Worksheet evaluate?A: The Tangible Net Benefit Worksheet evaluates factors such as interest rate reduction, monthly payment reduction, and total savings over the life of the loan to determine if refinancing is beneficial for the borrower.

Q: Who fills out the Tangible Net Benefit Worksheet?A: The Tangible Net Benefit Worksheet is typically completed by the lender or loan officer and provided to the borrower for review.

Q: What happens if the Tangible Net Benefit Worksheet shows a negative benefit?A: If the Tangible Net Benefit Worksheet shows a negative benefit, the borrower may be required to provide additional documentation or may not be approved for refinancing.