Thursday, December 14, 2017
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Market Commentary
A written dialogue discussing the effect the Federal Reserve is having on mortgage rates


Steve Lewis
Mortgage Loan Originator
Sierra Pacific Mortgage
Rancho Bernardo Branch

11770 Bernardo Plaza Court #451
San Diego CA 92128

O: 858.225.5604
C: 619.857.9268
F: 858.225.0404
Email:
Team.Lewis@SPMC.com
Website:
www.SteveLewisLoans.com

NMLS# 300313
Branch NMLS# 279118
Company NMLS# 1788

Licensed under the
CA DBO/RMLA #8171148;
Not Licensed in the state of New York.

Equal Housing Lender

 
     
Market Commentary
A written dialogue discussing the effect the Federal Reserve is having on mortgage rates


Steve Lewis
Mortgage Loan Originator
Sierra Pacific Mortgage
Rancho Bernardo Branch

11770 Bernardo Plaza Court #451
San Diego CA 92128

O: 858.225.5604
C: 619.857.9268
F: 858.225.0404
Email:
Team.Lewis@SPMC.com
Website:
www.SteveLewisLoans.com

NMLS# 300313
Branch NMLS# 279118
Company NMLS# 1788

Licensed under the
CA DBO/RMLA #8171148;
Not Licensed in the state of New York.

Equal Housing Lender

This calculator tells you how much monthly gross income you may need to qualify for the home you want. Mortgage companies use ratios to analyze your mortgage payment, and you will be required to enter these below. The housing expense, or front ratio, compares your total mortgage payment to your monthly income. The total debt expense, or back ratio, compares your total monthly obligations including your total mortgage payment to your monthly income.

You will be required to enter specific information about your monthly property taxes and property value. Any other property information fields you leave blank will be assumed to be zero. In either case, the results displayed below are only estimates of the amount of income you may need to qualify for a loan. You will be provided with two income calculation amounts: aggressive and conservative. The aggressive income amount may be used to qualify for more non-conventional loan programs.

Property Information  
  Property Value ($)
  Monthly Taxes
  Monthly Hazard Insurance
  Monthly Mortgage Insurance
  Monthly Homeowners Assoc Dues

Loan Information
  Zip Code
  Interest Rate
  Loan Term (Years)
  Down Payment ($)
  
Front Ratio (%)
  
Back Ratio (%)
 
 
 

The results displayed above are only estimates and cannot be used to determine actual loan costs or be used as a guarantee. Please consult your tax advisor for information on the deductibility of interest for tax purposes. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

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