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 Mortgage
Qualification Calculator |
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the maximum loan amount and maximum home price you qualify
for. |
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Income
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Annual Income
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Monthly Income
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Salary or wages
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Other salary or wages
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First Qualifying Number
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Rental income
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Investment income
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Additional income
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/12
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Total Income
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Second Qualifying Number
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Long-Term Debts
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Monthly Debt
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Annual Debt
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Car loan payments
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Credit card payments
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/12
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Other loan payment
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Other loan payment
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Total Debts
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Hou
sing cost ratio
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Loan
Amount
The table below calculates the amount of a loan you might qualify for with the
monthly payment shown above. Depending on the circumstances, some or all of the
following will be true:
• In all cases, your monthly payment will include principal and interest
payments.
• In most cases, it will include a monthly escrow deposit to cover taxes
and mortgage insurance, if any. In some cases, homeowner's insurance is also
included in this calculation.
• If you are buying a condominium or co-op unit, the monthly payment figure
may also include your homeowner's dues and/or maintenance fees. You will need
to estimate these monthly costs and type them into the appropriate cells below.
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Total monthly payment allowed
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Important: This
worksheet provides a rough estimate for conventional, fixed-term
mortgages. Loan terms vary depending on type of mortgage and lender
policies.
Consult a professional lender for exact data .
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Estimated monthly property taxes |
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Homeowner's insurance, if applicable
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Homeowner's dues and other fees, if any
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Annual interest rate (e.g., 7.125)
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Duration of loan (in years)
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Monthly principal + interest payment
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Maximum loan amount & home price at 0% down payment
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Maximum home price with 5% down payment
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Maximum home price with 10% down payment
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Maximum home price with 20% down payment
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