To Find Your Max Projected Monthly Payment take your Total Income (If two are applying then both incomes) and subtract any other monthly debt such as credit cards, car loans, loans, medical bills (no food, telephone, cable, cell or any of the consumer type expenses). Divide it by 3. Take the resulting amount. That will be Your Max Projected Monthly Payment.
Total Income [minus] Debt = Expendable Income [Divided By 3]= Max Projected Monthly Payment
Example: Total Income=5,000 Total debt = 500 Expendable income =4500 Divide 4500/3 = Max Projected Monthly Payment = 1,500
I hereby grant permission for Problem Credit OK and/or its third party lenders and facilitators to obtain all information deemed necessary to process my mortgage loan application. This information includes, but is not limited to, my past and present employment status, my deposit accounts, my past and present consumer credit record, my mortgage record and/or my rental record.
AUTHORIZATION TO PULL CREDIT Yes, you can pull my credit
No, I Can Send You A Copy Of My Credit Report!
APPLICANT SSN:
CO-APPLICANT SSN:
Name of Person completing this form*