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Gross Income per Month
Total Consumer Debt Payments Per Month
Your Down Payment %
Loan Rate%
Loan Term In Years
*Optional - Enter Price of Home You Like
Estimated How Much Home You Can Afford
Maximum Amount Of Home
Max Loan
Down Payment Required
Estimated Monthly Payment Info
Mortgage P&I Payment
Morgage Insurance
Property Tax @1.25%
Hazard (Homeowners) Insurance
Total Cost per Month
*Can You Afford Home You Like?
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This calculator is designed to be an informational and educational tool only and results are not to be construed as an actual approval. You will need to consult with a qualified mortgage consultant to review credit, income, debt and assets to obtain pre-approval. Results are based on current Fannie, Freddie and FHA guidelines and are intended to serve as an estimation only based on the information entered. For conventional loan scenarios with = or less than 20% funds towards purchase, ratios of 45% are used. For conventional loan scenarios with = or more than 20% funds towards purchase, ratios of 50% are used. For FHA scenarios a maximum 46/55% are used. Assumptions; good compensating factors such as 720+ fico scores, good income history and sufficient assets to close. Mortgage Insurance for up-front mortgage insurance calculated at 2.25% of loan balance for FHA loans. Mi for FHA and Conventional Calculated at .55% annual premium. Property taxes calculated at 1.25% of purchase price. Home owners insurance calculated at .25% of loan balance. These numbers can vary depending on location of property and loan program guidelines.