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Chad Shillady, Realtor
Keller Williams Realty

47-100 Washington Street
La Quinta, CA 92253

(760)702-5437
ChadCloses@kw.com
Lic Number: 01978055
Broker Lic Number: 01242139

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Call The Desert Home - (760) 702-5437

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Financing

Let Us Help With Financing >

Information needed at Loan Application
1) W-2 (2-years) & Current Pay Stubs, Self-Employment or 1099
– Last 2 years tax returns
2)Landlord name/ Telephone
– Last 2 years
3)Employer name/ Address/ Telephone
– Last 2 years
4)Asset Information
– Past 2 month’s statements where your funds to close Escrow are
5)Information on Stocks/ Bonds/401K, etc.
6)Name and telephone number of Realtor
7)Name and telephone number of Escrow
NOTE:The above is for fully documented loans. Reduced documentation and stated income loan requirements vary. Please call for complete details
The Home Loan Process
1)Pre-qualification/ Pre-approval (Credit Report Run)
2)Formal Loan Application Taken
3)Escrow and Title Ordered
4)Appraisal Ordered
5)Income and Asset Information Verified
6)Complete Loan Package Submitted TO Underwriter
7)Loan Approved
8)Obtain and Forward to Underwriter any additional items that may be required
9)Interest Rate Locked
10)Loan Documents Ordered and Sent To Escrow
11)Loan Documents Signed by Borrower(s)
12)Final Pre-Closing Conditions Sent To Lender
13)Loan Funds Wired to Title
14)Loan and Grant Deed Record, Close of Escrow
Predicting Your Monthly
Payment


PRINCIPAL AND INTEREST PAYMENT TABLE
big.chart

Your monthly payment
(PITI) is the sum of four items – the principal on the loan (P), the
interest on the loan (I), property taxes (T), and homeowner’s insurance
(I). To predict your monthly payment for a 30 year fixed rate loan, use
the following table to determine the principal and interest part of the
payment. Simply divide the loan amount by 1,000 and then multiply that
figure by the appropriate interest rate factor from the table below. To
that sum add 1/12th the amount of your yearly taxes and 1/12th the amount
of your yearly insurance premium. This will give you your PITI
payment.

 

For example: If your mortgage loan amount is
$150,000, your interest rate is 7.0% you would
multiply 150 by 6.65 resulting in a value of
$997.50. Add your monthly insurance premium (approximately $25 – $75 per
month) and your property tax (approximately your purchase price x 1.25%
/12) to your principal and interest. This is your estimated monthly
payment.

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About Call the Desert Home Real Estate

I have created Call the Desert Home as not just a real estate website but a website that will help you familiarize yourself with all the Coachella Valley has to offer. Whether you’re looking for fine dining locations or the best shopping the Desert has to offer. You can find it here, as well as a calendar of upcoming events, and believe me, there are a lot of them! While you’re looking for a home please take the time to get to know the area you’re focusing on with all the information I have provided on my website. If you can’t find what you are looking for please do not hesitate to fill out a contact form or call me directly. I’m here to help with your home buying and selling needs as well as answer any questions you may have about living the Desert life.

Sincerely,

Chad Shillady, Realtor

Contact Us

Chad Shillady, Realtor
Keller Williams Realty

47-100 Washington Street La Quinta, CA 92253

(760) 702-5437
Chad@callthedeserthome.com
Lic Number: 01978055
Broker Lic Number: 01242139

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