TITLE COMPANY
Stewart Title & Trust of Tucson
Cheryle Gonzales
cgonzales@stewartaz.com
FINANCIAL PLANNING
TCI Wealth Advisors, Inc.:
www.tciwealth.com
Greenberg Financial Group:
www.greenbergfinancial.com
CERTIFIED PUBLIC ACCOUNTANT
J. Dennis Bartlett, PC, CPA
dennis@JDBartlettCPA.com
ALL ABOUT TUCSON
Metropolitan Tucson Convention
& Visitors Bureau:
www.visitTucson.org
GETTING STARTED ON YOUR
LOAN APPLICATION
Start collecting the following information that will be needed when you submit your loan application:
EMPLOYMENT:
– Employer(s) name, address, phone numbers and length of employment for the past two (2) full years.
– If salaried, two (2) years W-2s and current full month pay stubs.
– If self-employed or commissioned, two (2) years current personal federal tax returns.
OTHER INCOME: Social Security, retirement, etc. must be documented by a copy of an award letter, copy of current checks or direct deposit statement.
DEPOSIT ACCOUNTS: Checking, savings, certificates of deposit, etc. balances or estimated values and account numbers.
VERIFICATION OF DEBTS, MORTGAGE/RENT: Name, address and phone number of either current mortgage lender or current landlord if renting. Account numbers and estimated balances (or recent statements) for all mortgages, loans, credit cards, etc.
OTHER: Signed copy of purchase contract and good faith deposit receipt.
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HOW MUCH
SHOULD YOUR
MORTGAGE PAYMENT BE?
Tip #1: Housing expenses (including property
taxes and insurance) should not exceed 30% of
your gross total monthly income.
Tip #2: Housing expenses and other debts
should not exceed 40% of your gross total
monthly income.
Use the table below to calculate various combinations of interest rates and mortgage lengths to estimate monthly mortgage payments (principal and interest) and the amount you should borrow.
Or contact Hotchkiss Financial, Inc. and we’ll help you calculate these numbers.
MORTGAGE
CALCULATOR
The table below helps you calculate monthly mortgage payments covering principal and interest on a fixed rate mortgage (not including taxes, insurance and other charges) for various combinations of mortgage lengths and interest rates. Where the interest rate row and mortgage length column intersect is the cost per $1,000 of mortgage. Multiply this number by the number of $1,000s in your desired mortgage. For example, a $125,000 mortgage at 7.25% interest rate for 30 years, would be 125 x $6.83 = $853.75 per month.
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