Can You Afford This
Rancho Cordova
Property?
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Pre-Qualification Calculator Instructions |
Property Listing ID: 45811
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Like this
Rancho Cordova
property? Below is our exclusive mortgage pre-qualification calculator* to estimate the maximum amount of mortgage financing you qualify
with up to three different mortgage loans simultaneously. This calculator provides you with your maximum mortgage qualifications based on your income, monthly
debt and and available down payment. Note: your
loan qualifications may be affected by your credit rating.
Step 1: Enter Your Income
Step 2: Enter Your Monthly Liabilities
Step 3: Enter Your Cash Assets
Step 4: Select up to 3 mortgage programs
Click:
"Calculate My Mortgage Qualifications"
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4311 Cadee Court
Rancho Cordova
CA,
95742
Owner Asking: $730,000
Listed :
10/12/2006 on
ForSalebyOwnerCenter.com
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Sales Price of the
Rancho Cordova
Property |
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Sales Price |
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Step 1: Income |
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Enter the total "Gross" monthly income for each borrower.
"Gross" is before "taxes"
are taken out. If more than two borrowers you can combine the income amounts into a single box. |
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Borrower |
Co-Borrower
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Monthly Income |
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Step 2: Monthly Bills |
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Enter the total of the "Minimum"
monthly payments as indicated on your statements for each type of liabilty
indicated below. Do not include rent or utilities. Please be as accurate as possible as this will dramatically affect the amount
of mortgage financing you will qualify for. |
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Auto Loan(s)
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Credit Card(s) |
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Student Loan(s) |
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Personal Loan(s) |
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401 K / Retirement Account Loan(s) |
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Other Loan(s) |
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Other Legal Liabilities - these may or may not be reported on your credit report but must
be used during loan qualifying.
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Alimony / Palimony |
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Child Support |
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Liens / Judgement |
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Step 3: Funds Available |
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Enter the total amounts of money available. You may elect to use all or part of
the monies indicated. If you are selling a home, you may enter your estimated "net"
proceeds for the sale.. |
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Checking /
Savings |
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Selling a home?
Net
Proceeds from sale. |
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401K / Retirement Accounts |
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Step 4: Select Mortgage Interest Rates for Each Loan Program |
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Select the estimated current mortgage rate you will be able to obtain.
(Note: if
using an adjustable rate mortgage, you must qualify at the fully indexed rate, which
will be approximately the same as a 30 year fixed in most cases). |
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Mortgage Amortization |
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Interest Rate |
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Scroll Down to
View Your Loan Qualification Results |
Review results of the three different types of mortgage terms and rates you used for
qualifying. Calculator assumes maximum loan qualifications based on your income,
liabilities and available funds to close. Items in "RED" indicate a shortage amount in "cash to close".
Note: in some cases you may qualify
for a loan amount larger than the sales price which means you can purchase a more
expensive property if desired. This is for informational purposes only and you should
consult with one of our local mortgage professionals to get a formal loan pre-qualification.
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Loan Programs |
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Mortgage Rate |
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Sales Price |
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Maximum Loan Amount based on Your Income Qualifications |
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Min. Down Payment Req. |
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Loan to Value |
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Mortgage Payment (P.I. only) |
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Property Taxes |
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Homeowners Insurance |
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Private Mortgage Insurance (PMI), if LTV over 80% |
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Mortgage Payment (P.I.T.I)
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Total Funds Available |
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Min. Down Payment Required |
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Estimated Closing Costs
(Estimated at 3.125% total***) |
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Estimated
Total
Funds Required for Closing |
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Funds / Monies After Close
(Red = $ amount shortage to close) |
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Suggested Minimum Cash Reserves After Closing |
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Front-End Ratio |
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Back-End Ratio |
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Suggestions / Feedback
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Advanced Loan Pre-Qualification Summary and Functions |
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Summary of the information you provided used for loan qualification purposes. |
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Total
Income: |
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Total
Liabilities: |
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Funds Available:
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Income to Debt: |
% |
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Property Tax and Homeowners Insurance Assumptions** |
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We have used a generic estimate for these calculation but you may refine the estimate
by selecting approximate
property tax and insurance rates in your area. |
Annually |
Monthly |
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Property Taxes based on
per year. |
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Homeowners Insurance
per year. |
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Loan Qualifying Calculator Disclosure* - The information provided on or through
this site is for purposes of general consumer education only and is not intended
as a substitute for advice from a qualified professional, such as, but not limited
to, a lawyer, mortgage broker, accountant, investment advisor, insurance broker,
financial planner, real estate agent or home inspector. We can not and do not guarantee
the accuracy or the applicability of this information to your circumstances. We
encourage you to seek personalized advice from qualified professionals regarding
all personal finance and real estate issues.
Estimate Monthly Taxes & Insurance** - This is an estimated amount of the property
taxes, homeowners insurance and possible private mortgage insurance. This may vary
from area to area. Property taxes estimated at 1.25% per year. Homeowners insurance
estimated at .0035% per year and PMI estimated at following rates: 95.01-100% LTV
= 1.03% , 90-95% LTV = .875%, 85-90% LTV = .625%, 80-85% LTV = .375%.
Estimated Closing Costs*** - This is an estimate of the closing costs associated
with obtaining a mortgage loan. Includes points, loan origination fees, title, escrow
/ attorney and misc. other fee's typically associated with a loan in California.
Fee's may be higher or lower dependant on your area and loan qualifications.
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