Inputs   Results    
    Gross Monthly Income $ Max Sales Price $  
    Monthly Non-Housing Debt $ Max Loan Amount $  
    Cash Available to Put Down $ Max Monthly Payment $  
    Interest Rate $      
    Term In Years $    
             
   
 
       
   

Your salary must meet the following two conditions:

  1. Your gross (pre-taxes) monthly salary must be greater than 33% of the
    sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 45% of the
    sum of the monthly mortgage, monthly tax and other monthly
    debt payments.

DISCLAIMER: The prequalification figures above are based upon conventional
program guidelines. Other loan programs are available. Calculations by this
tool are believed to be accurate, yet are not guaranteed. Further review is
necessary to obtain an exact qualification. If you have less than 20% equity in
your home, a monthly mortgage insurance payment may be required.

  
 
 
 
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