This is referring to any debts that you might have outside the mortgage (car loan, credit cards, student loans, etc.). If we were going to write you a check to pay off all debts (excluding your mortgage) how much would that check be for?
Total Debt: $
After paying off your debt, if we could bring your family a check every month to cover normal living expenses – how much would that monthly check need to be? And, for how many years?
Monthly Amount: $
For How Many Years:
What is your current balance that you owe the bank for your mortgage?
What do you feel would be an adequate amount to set aside for your children’s education? $50,000? $100,000? What is the approximate amount that you have already established in a college savings?
Adequate Education: $
– Amount Saved: $
On average, we allocate around $10,000-15,000 to cover final expenses.
Final Expenses: $