Advisory: If you are interested in getting a more accurate projection of your purchasing power, please visit my Pre-Qualification instructions page.
There are three important facts you should know about most pre-qualification calculators
1) The purchasing power estimate you will be provided will be very conservative. Fannie Mae’s calculators work on two assumptions: that housing expenses should not exceed 28% of your gross income and that all monthly obligations (housing plus installment and credit card payments) should not exceed 36%. If you have good credit, many lenders will allow housing ratios to run as high as 45%. To get a precise estimate of your maximum purchasing power give me a call at 1-888-449-FINE or locally 363-5599.
2) Pre-qualifications are only as good as the credit of the individual wishing to be pre-qualified. Late pays, old or outstanding collections of charge-offs, bankruptcies and judgements will have a decided impact on one’s ability to qualify for any mortgage.
3) Garbage in garbage out. Pre-qualifications are only as good as the information they are based upon so I suggest you read my Pre-Qualification Instructions before you start. Otherwise, click below to proceed to Home Path where you will find several very useful calculators. I hope this Las Vegas home loan information has been helpful to you.
8625 S. Eastern Ave. - Las Vegas, NV 89123 - Contact Me
