Prequal Calculator

The Prequal CalcuLetter gives you an estimate of how much you will qualify for when you apply for a mortgage. Results are contingent upon you as the borrower having excellent credit. Once you have submitted your prequalification letter, a trained mortgage planner will contact you to discuss the different options and types of mortgages available. You can then get pre-approved, which will help you when bidding on property by making you a stronger buyer.


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

*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.