The Prequal CalcuLetter is both a prequalification
calculator and a tool to generate a prequalification letter.
CalcuLetter results are based upon the borrower having excellent credit.
Please enter data into the spaces provided,
then click the grey button below this form.
|
| Monthly income: |
$
|
|
Enter your gross (pre-tax) income*. (Include base salary, and two year average
of commissions, bonuses, dividends/interest and net rental income.)
|
| Monthly debt: |
$
|
|
Enter the minimum monthly amount you're
required to pay for credit cards, car loans, student loans, etc. (Don't
include your current mortgage or debts you'll pay off prior to purchasing
your home.)
|
| Cash available: |
$
|
|
Enter the amount of cash available for
down payment and closing costs. (Include cash from checking and savings,
proceeds from the sale of your home, stocks and securities you intend
to sell.)
|
| Term in Years: |
|
30
20
15
|
Enter the expected term for your loan.
|
| Interest Rate: |
%
|
|
Enter the mortgage interest rate
you expect to pay. |
|
|
|
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*Notice: Alimony, child support, or separate maintenance income need not be
revealed if the borrower or co-borrower does not choose to have it considered
for repaying this loan.
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