Palm Springs, California Desert Resort Home Buyers Guide
REALTOR Steve Stewart (DRE#01849518), Keller Williams Realty, Palm Springs,
stevestewart@kw.com. Copyright 2011 All rights reserved
55+ Senior | Condos & Townhomes | Country Club & Golf | Foreclosures | Investments | Lots & Land | Luxury | Mobile/Manufactured | New | Short Sales
QUALIFYING FOR A MORTGAGE
Most lenders require that your monthly payment range between 25-28% of your gross monthly
income. Your mortgage payment to the lender includes the following items:
The principal on the loan (P)
The interest on the loan (I)
Property taxes (T),
The homeowner’s insurance (I).
Your total monthly PITI and all debts (from installments to revolving charge accounts) should range
between 33-38% of your gross monthly income. These key factors determine your ability to secure a
home loan: Credit Report, Assets, Income, and Property Value.
