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Calculators
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Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.
Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link.
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
%): |
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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| Income Needed to Qualify for the Mortgage |
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| Total Monthly Loan Payment: |
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| Total Monthly Debt Payment: |
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| Monthly Loan Insurance (%): |
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| Qualifying Income of
% GDS Ratio: |
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| Qualifying Income of % TDS Ratio: |
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| What You Can Afford |
| We are using the % ratio.
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| Cost of House: |
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| Down Payment: |
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| Loan Value: |
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| Monthly Principal & Interest: |
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| Monthly Insurance: |
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| Monthly Property Tax: |
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| Monthly Condo Fees: |
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| Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate) |
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Top 10 Things NOT TO DO When Applying For a Mortgage!
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The loan process is not over until the loan closes. Until then income, liabilities and assets will continue to be scrutinized to make sure they fit in with any guidelines established for the particular loan. All borrowers are different, and none of this is written in stone, but in general it is best to avoid these common mistakes:
1. DO NOT spend any of your cash reserves, even to pay down debt, without talking to your loan officer first.
2. DO NOT make an expensive purchase with savings or on credit without talking to your loan officer first.
3. DO NOT change jobs. Sometimes this can't be avoided but if possible stay put.
4. DO NOT co-sign for anything.
5. DO NOT take on new debt.
6. DO NOT lease a new car.
7. DO NOT switch banks or move money around.
8. AVOID credit inquiries if you can.
9. AVOID making large deposits that cannot be documented.
10. DO NOT wait too long to speak to a lender. If you are thinking of doing something and are not sure if it will impact qualifying for a loan: If you're not sure how much of a loan you can qualify for: if you think you might need to do something to help your credit or get ready to qualify, don't wait until you find a home you love to find out. Call us with any questions and we will be happy to answer them for you.
CALL TODAY WITH ANY QUESTIONS! |
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