![]() This calculation attempts to determine, or at least estimate, all your real-life expenses each month. The residual income calculation takes DTI a step further, factoring in additional expenses like child care, estimated utilities on the new home, child support (if any), and Social Security and income taxes. You have likely heard of debt-to-income ratio, the calculation that looks at your monthly debt payments compared to your income. How do lenders calculate VA residual income? In addition to the VA guarantee, lenders reduce the risk typically associated with high LTV loans by calculating the residual income, which helps VA borrowers get lower interest rate mortgages. ![]() Ordinarily, high LTV mortgages have higher foreclosure rates. VA loans require no down payment, so they tend to start with a higher loan-to-value ratio (LTV). VA lenders calculate residual income - along with debt-to-income ratio (DTI) - to make sure you will be able to afford your loa n’s monthly mortgage payment. ![]() Fixed expenses include your mortgage payment, healthcare, food, gas and other family expenses. Residual income is the amount of discretionary money you have leftover each month after your fixed expenses. Verify your VA loan eligbility (May 5th, 2023) What is VA residual income? Generation from facilities that cannot be readily assigned to eGRID subregions is excluded from these residual mix emissions rates.If you plan to buy a home with a VA loan, you’ll want to know about VA residual income and how this calculation can help you. The total CO 2 emissions for each region are then divided by this new generation number for each subregion, resulting in an adjusted emissions rate (lb CO 2/MWh) that accounts for use of renewable energy from a Green-e® Energy certified product.įor this calculation, each U.S.-generated MWh is assigned to a specific eGRID subregion, with generating facilities assigned to eGRID subregions using facility zip codes and Energy Information Agency data. The residual mix emissions rate is calculated by first subtracting all unique Green-e® Energy certified sales (in megawatt-hours ) from the total generation within each subregion. These rates are calculated using the data collected by Green-e® Energy during annual verification of certified sales and the most recent emissions and generation data provided by eGRID in the U.S. Residual Mix Rate Calculation Methodology Green-e® Energy also offers the Green-e® Energy Summary of WRI Scope 2 Guidance, a guide for purchasers of Green-e® Energy certified renewable energy on how to calculate Scope 2 emissions. Use of these numbers is compatible with WRI’s Greenhouse Gas Protocol Scope 2 Guidance, which defines residual mix in more detail. Users reporting their GHG data should cite the use of these residual mix rates in their accounting. Until such time, Green-e® residual mixes are available, which factor out all Green-e® certified sales of renewable energy. Regional residual mix emissions rates that factor out all specified electricity purchases are not yet available for all regions of the U.S. When calculating the emissions from unspecified purchased or acquired electricity (considered “Scope 2” emissions, as defined by the World Resources Institute ), where more-accurate information about the resources and emissions associated with electricity use is not available from the user’s state, region, or electricity supplier, residual mix emissions rates should be used. Individuals can figure out which eGRID subregion in which they are located by using the EPA’s Power Profiler tool. The residual mix emissions rate used should be based on the eGRID subregion in which the electricity is consumed. It does not include any data that is not reported to Green-e. generation and emissions rate at the time of publication. Green-e® residual mix emissions rates are published every Spring using Green-e® voluntary renewable energy market sales data collected during the annual Green-e® verification audit from two calendar years prior and the most recent U.S. The table provides the “Green-e® residual mix emissions rate,” an emissions rate that is adjusted to remove all Green-e® Energy certified sales for each Emissions & Generation Resource Integrated Database (eGRID) subregion (see eGrid subregion map). The information in these tables can be used to calculate the greenhouse gas (GHG) emissions associated with untracked and unclaimed U.S.-based sources of electricity, based on location of consumption.
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