Karina Sunderji - Realtor
Karina Sunderji Suite 115, 8820 Blackfoot Trail SE Calgary, AB T2J 3J1
Cell: 403 680-1247
Fax: 403-592-7529
Home:
Work Phone: 403-680-1247

Financing and The Pre-Approval Process - Karina Sunderji - Realtor


 


As part of an effective buying process, a professional realtor will suggest a process for the buyer to be pre-approved.

Pre-approval is a process where a lender takes all pertinent financial information, examines the current financial status of a buyer and provides an exact loan amount for which the buyer is approved.

This is a critical step as it allows the buyers to know precisely the range in which they can look and makes the buying process much more effective.

Pre-approval also provides comfort to the sellers and lets them know that the buyers are serious & have gone through an extensive financial check.

As a professional realtor I have a list of financial consultants you can contact to determine your pre-approval.

The following calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Calculators - Karina Sunderji