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| See if your income is sufficient to qualify |
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 Desired Mortgage for new home |
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Total Number of Years on Mortgage |
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Interest Percentage of Mortgage |
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Annual Property Taxes on your new Home |
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Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc). |
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Summary
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Total
Housing Payment (tax & insurance incl).
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Required
Salary
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Estimated required salary is based on conservative traditional underwriting guidelines. If you do not meet the estimated required salary computed, you should not assume you will not qualify. Many factors are involved in a loan approval, including down payment, prior credit history, and assets, among other things.
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DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification.
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If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required |