Rick Doran- NMLS # 867550
Rick Doran is an Arizona native who is 100% invested in his community and helping clients acheive their real estate goals. Rick has both the knowledge and experience in guiding his customers through the mortgage process and helping them find the most suitable mortgage program to best fit their financial needs.
Rick has over 30 years of mortgage industry experience. His number one priority in his business venture was to open a mortgage company where customers would have confidence in knowing they would receive low mortgage rates and minimal closing costs, as well as having the opportunity to work with an industry professional with exceptional customer service qualities.
Rick is known for going above and beyond the call of duty and for being proactive on a daily basis, which his clients appreciate. His strong work ethic is what separates him from everyone else.
Conventional mortgages, FHA-Insured Financing, USDA Rural-housing, VA home loans, FHA 203(k) Renovation Loans, State Housing Loans, Refinance and more!
NMLS # 867550 |LO State LIC AZ #0922208, CA DBO867550 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act | Equal Housing Lender | 7600 N 16th St. Suite 218, Phoenix, AZ 85020| (602) 386-6386
MORTGAGE CALCULATOR
Mortgage Help
Down Payment
The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.
Loan Term
Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.
Loan Type
There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.
Interest Rate
This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
Property Tax Rate
The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.
Home Insurance
Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.