This Mortgage Qualification Estimator will give you a good estimate for your Refinance Scenario.It is not an approval or a commitment to lend.Just an estimation based on data input by you.

To get accurate results it is important to follow the instructions for each field.Click on the ? sign located on the right of each field to read specific instructions.

As soon as you save the record the prequalification estimate results are emailed to your email address.Please check your Inbox/Spam or Junk Folder for our email
 
 
     
     
     
 
 
 
   
   
   
   
   
   
   
   
   
   
E-MAIL
 
No Names,Phone Numbers or Addresses are Needed.
We do require your email address to forward the Mortgage Qualification Results.
 
* Borrower Email
 
 
INCOME
 
Borrower Income(Gross Yearly) 1. You need to have a 2 year employment history 2. Gaps over 6 months need to be explained later. 3. Wage Earner Income generally consists of Base Pay(Fixed or hourly) ,bonus,overtime ,commissions and other allowances.Calculate your income as follows Current Fixed Base Pay or Average Hours Worked in the last 6 months X Current Hourly Rate. 4. Then Add the average of last 2 years Bonus+ Overtime + Commissions + Other Allowances Receive..Do average this over two years.Enter the numbers against the Borrower and CoBorrower ,if any. 5. For self employed individuals you will need to average the last 2 years Net Taxable Income( Amount After adjusting expenses on which you paid your taxes) .You are allowed to add back the depreciation charged in your accounts to arrive at Net Taxable Income. CoBorrower Income(Gross Yearly)  1. You need to have a 2 year employment history 2. Gaps over 6 months need to be explained later. 3. Wage Earner Income generally consists of Base Pay(Fixed or hourly) ,bonus,overtime ,commissions and other allowances.Calculate your income as follows Current Fixed Base Pay or Average Hours Worked in the last 6 months X Current Hourly Rate. 4. Then Add the average of last 2 years Bonus+ Overtime + Commissions + Other Allowances Receive..Do average this over two years.Enter the numbers against the Borrower and CoBorrower ,if any. 5. For self employed individuals you will need to average the last 2 years Net Taxable Income( Amount After adjusting expenses on which you paid your taxes) .You are allowed to add back the depreciation charged in your accounts to arrive at Net Taxable Income.
 
 
MONTHLY PAYMENTS
 
Combined Auto Payments(Monthly) 1)All Auto Payments for the Borrower and CoBorrower 2)Please enter the Combined Monthly payments. Auto Loan Monthly Payment(<10 Payments Left) 1)If Borrower or CoBorrower has auto loans that will be paid off in 10 months or less ,please enter the corresponding Monthly Auto Loan payments here. 2)If you plan to pay off the Auto Loan with this New Loan please enter the monthly payment in this box.
Combined Credit Card Payments (Monthly) 1) Monthly Payments for Credit Cards for Borrower and CoBorrower go here 2)This column only requires the MINIMUM monthly payments and not what you pay per month. 3) DO NOT enter monthly payments for cards you pay in FULL every month. Pay in Full 1)If you pay your credit cards in full every month indicate it here. 2)If you plan to pay off your credit cards with the New Loan please check this box
Other Instalment Loan Payments(Monthly) 1)The following monthly instalments go here a)Child Support b)Credit Line or Instalment loan payments not considered above c)Student loans d)Only MONTHLY payments need to be entered here. Paid In Full 1) If you plan to pay off the instalment loan with the New Loan please check this box.
 
 
CURRENT OWNED HOUSING
 
Primary Home(Monthly Mortgage Pmts) 1)Please enter the following combined MONTHLY payments for your Primary Home. a)First Mortgage Monthly Taxes Please enter the PRORATED Monthly Taxes for Primary Residence ONLY Monthly Insurance  Please enter the PRORATED Monthly Insurance for Primary Residence ONLY * 1st Mortgage Balance
2nd Mortgage Pmt 2nd Mortgage Balance         
Rental Homes(Combined Monthly Rent Received) 1) ALL YOUR RENTAL HOMES a) Please enter the combined monthly RENT here Rental Homes(Combined Monthly Mortg. Pmts) 1)Please enter the following combined MONTHLY payments for ALL YOUR RENTAL HOMES a)First Mortgage b)Second Mortgage ,if any c)Monthly pro rated taxes d)Monthly prorated insurance e) Monthly HOA ,if any.        
 
 
PAYMENT HISTORY
 
How we Look at Derogatory Credit
 
Lates(12 Months) 1) Check this box if you had a 30/60/90/120 day late reported on any Credit Card or Auto Loan or Instalment Loan on your CREDIT REPORT in the LAST 12 MONTHS. Collection/Chargeoff Accounts 1) Check this box if you have unpaid/unsettled CHARGE OFFS/COLLECTION accounts reporting on your credit.        
Unpaid Tax Liens/Judgements 1)Check this box if you have UNPAID or NOT SATISFIED Tax liens and/or Judgements reporting on your credit. Tax Liens/Judgements Balance Please enter the OUTSTANDING BALANCE of any Tax Liens and /or Judgements Payment Plan Please CHECK this Box if you have a PAYMENT PLAN with the IRS or a CREDITOR, ONLY for OUTSTANDING TAX LIENS and/or JUDGEMENTS. Tax Lien/Judgement Monthly Pmt If you do have a PAYMENT PLAN enter the amount you pay monthly for outstanding TAX LIENS and/or JUDGEMENTS.
BK CHECK this BOX if you filed a BK in the last 7 years. Type Status Date 1) In the case of you filed a chapter 13 enter the FILING date in the status date 2)In case you filed a chapter 7 enter the DISCHARGE date in the status date.
Foreclosures/Short Sales CHECK this box if a foreclosure or short sale was filed in the last seven years. Status Date Please enter the date you the Bank showed the property as a foreclosure or the date the Bank accepted the short sale      
 
 
CREDIT
 
Our Credit Requirements
 
* Borrower Estimated FICO 1) This is your FICO score that you are aware of as informed by a Credit Reporting agency or an entity who did a credit check on you.(Normally FICO scores are between 300-800) Co Borrower Estimated FICO 1) This is your FICO score that you are aware of as informed by a Credit Reporting agency or an entity who did a credit check on you.(Normally FICO scores are between 300-800)
Borrower Rated Credit CoBorrower Rated Credit
 
 
GOAL For New Loan
 
Estt Home Value Goal Cash Out
Interest Rate You may select a different interest rate from the drop down. Amortisation Term You may select a different Amortisation term from the drop down.    
 
 
CONTACT
 
Name Phone
Best Time to Contact OK for Loan Officer to Contact?
Broker Code  
 
 
* Required Fields