Christee Quick Start PreQual

The Quick Start PreQual module projects a home purchase price based upon a desired monthly payment, location, loan type and best utilization of cash including closing cost.

Optional inputs allow you to include features such as credit score, cash, and closing credits to customize a smarter path to home buying.

Required Income – The report will indicate an estimated required minimum income. The required income will change based upon credit score in combination with income and monthly debts which is beyond the scope of the Quick Start module.

Note: Quick Start PreQual is different from the Buyer PreQual module in that this module does not require annual income or monthly debts. The Buyer PreQual will provide more concise results.

There are Only 9 Required Inputs for Quick Start report.

  • 1. State. Select a State.
  • 2. Area. Select County or City. All calculations will be based upon the ‘Area’ selected including maximum loan amounts and closing cost.
  • 3. Enter Desired Zip Code. Enter the zip code where you wish to purchase.
  • 4. Mortgage Type. Select Conventional, FHA, VA, or USDA loan. If unsure you may select ALL four.

    Tip: Based upon the ‘Area’ selected Christee will make necessary adjustments such as FHA maximum loan amount.

    Tip: The ‘Mortgage Notes’ section will highlight program features and make certain suggestion to enhance the homebuying experience.

  • 5. Change Rate. You will see suggested interest rates. Click the pencil inside the box to change the interest rate for analysis.

    Tip: If you wish to compare the effect different interest rates have, run the module with different interest rates and/or term of loan. You may also run ‘Buy or Wait’ module to compare current interest rates to potentially higher (or lower) future rates.

    Tip: A rate of 3 and one eight is entered as 3.125.

  • 6. Mortgage Term. Select from dropdown menu. Default setting is 30 Years.
  • 7. Limit Monthly Payment. Enter monthly payment you feel is affordable. Projected price homes will be based upon amount of monthly payment entered.
  • 8. Married. (Yes or No). If there are 2 borrowers, select ‘Yes’.
  • 9. First Time Buyer. (Yes or No). This input could affect closing cost or minimum down payment on conventional loan. Default setting is ‘no’.

    Tip: This input will only appear when conventional financing is selected or in certain selected States.

There are 13 Optional Inputs to customize your report. NOT required for Christee Results.

  • 1. Credit Score. Enter a number between 550 and 850. The lowest middle score for all borrowers should be entered.
  • 2. Available Cash. Enter total cash available to purchase a home. Christee will allocate cash to down payment and closing cost.
  • 3. Seller Credits. Enter the percent of purchase price you will ask seller to contribute toward closing cost. Seller credits will reduce the ‘cash required’ and could increase the price home if you have entered cash.

    Tip: 1.5 would represent a seller concession of 1.5% of the purchase price.

    Tip: Christee will make adjustments to the maximum allowable seller credit based upon loan type and estimated closing cost.

  • 4. Lender Credits. Enter the amount of Lender Credit as a whole number. 2 will represent a 2% lender credit to closing cost.

    Tip: Lender credits are based upon the loan amount and NOT the sales price.

    Tip: A Lender closing credit may results in a slightly higher mortgage interest rate.

  • 5. Lender Fees. Enter dollar amount of anticipated lender fees such as processing fees or underwriting fees. This will increase your closing cost. Do not include origination fee.

    Tip: Lender charges an underwriting fee of $1,200 and application fee of $500. Enter $1,700.

  • 6. Loan Origination Fees. Enter whole number representing amount of origination fees. Maximum entry is 2%.

    Tip: An entry of .875 means the calculations will be based upon a .875 (7/8%) loan origination fee.

  • 7. Down Payment %. Enter percentage of purchase price for down payment.

    Tip: Entering 15 or .15 will represent an 15% down payment and a 85% loan to value loan.

  • 8. Condo. Enter amount of anticipated monthly condominium fee or mandatory HOA fee, if any. This amount will be factored into your total monthly payment and will decrease the suggested purchase price.
  • Next two optional inputs applicable only to VA Loans Only.
  • 9. VA Exempt. If a Veteran is exempt from the ‘Funding Fee’ associated with a VA loan, then select ‘yes’.
  • 10. First VA Loan. This entry will affect the calculation of the VA funding fee. The funding fee is increased on 2nd VA loan.
  • 11. Name. If a name is entered, then PDF file will include name.
  • 12. Phone. Enter your phone number to have a Christee Certified Agent to contact you.
  • 13. Email Address. By entering a valid email address, you have the option to have the PDF report emailed to yourself or another person.

    Tip: If this field is blank, then you may download the PDF report.

    Tip: Make sure you hit the ‘submit’ button after entering an email address.

We hope you enjoy your AskChristee experience!

Results will be displayed in your browser. Additional detail is available in the PDF file. Please review results with a recommended AskChristee Agent and Lender.

See the Resources tab for more Information. Visit Video tab for demonstration and greater insight.