Frequently Asked Questions

How much mortgage can I qualify for?
This will depend on a number of factors, including your income and credit score. But more importantly, we’ll want you to be comfortable with your monthly payment. Using my mortgage calculators, you can estimate your mortgage payment with taxes, insurance, and HOA. Just enter the price of the home, your down payment, and loan details to calculate your estimated payments and schedule! 

What is a Mortgage Calculator?
A mortgage calculator will help you estimate your monthly payment determinated based on loan amount, down payment, home insurance, taxes, and more.

How much can I borrow?
Most homeowners are able to afford to finance a property that costs between two and two-and-a-half times their annual gross income. That said, there are many factors that can impact affordability and credit. It’s best to speak to your loan officer to get an idea of what you can borrow.

Can I get a mortgage?
I’d love to help you get a mortgage! The process is very simple. Click here and hit “Apply Now”, enter some basic information, and we’ll be able to quickly determine what you qualify for. If you have specific questions, feel free to reach out to me. I’m happy to walk you through!

How to use a home loan estimator?
A Loan Estimate tells you important details about a mortgage loan you have requested. If you have questions, I can personally walk you through how to estimate your loan payment.

How do I get a pre-qualification letter?
With PMR’s exclusive FastTrac Approval System, you can get Underwriting Pre-Approval within 48 hours after the initial application! Simply apply for your loan online, in person, or over the phone! Your application goes right into our FastTrac system where we verify your income, assets, and credit info. Just as fast as you applied, you’ll receive your underwriting pre-approval letter, showing you exactly how much house you can afford.

What is a FHA home loan?
FHA home loans are mortgage loans that are insured against default by the Federal Housing Administration (FHA). FHA loans are available for single-family and multifamily homes. These home loans allow banks to continuously issue loans without much risk or capital requirements. FHA loans allow individuals who may not qualify for a conventional mortgage to obtain a loan, especially first-time home buyers. These loans offer low minimum down payments, reasonable credit expectations, and flexible income requirements.

How do I get a VA home loan?
The VA Loan provides veterans with a federally guaranteed home loan which requires no down payment. This program was designed to provide housing and assistance for veterans and their families. The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders will offer a lower interest rate and terms than a conventional home loan. VA home loans are available in all 50 states. A VA loan may also have reduced closing costs and no prepayment penalties. Additionally there are services that may be offered to veterans in danger of defaulting on their loans. VA home loans are available to military personal that have either served 181 days during peacetime, 90 days during war, or a spouse of serviceman either killed or missing in action. PMR is not affiliated with or an agency of the federal government.

How much home loan can I afford?
This will depend on your unique financial situation. Most homeowners are able to afford to finance a property that costs between two and two-and-a-half times their annual gross income. That said, there are many factors that can impact affordability and credit. It’s best to speak to your loan officer to get an idea of what you can borrow.

Check out the booklets below for more information: