By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

At 4.5% your maximum mortgage is $209,586

Maximum monthly payment (PITH) $1,310.00

*This entry is Required. indicates required.

Start interest rates at:*This entry is Required.Enter an amount between 0% and 25%

Amortization in years:*This entry is Required.

Monthly income:

Press spacebar to show inputs

Total $4,000

Salary:*This entry is Required.Enter an amount between $0 and $10,000,000

Salary paid:*This entry is Required.

Commission:*This entry is Required.Enter an amount between $0 and $1,000,000

Commission paid:*This entry is Required.

Bonus:*This entry is Required.Enter an amount between $0 and $1,000,000

Bonus paid:*This entry is Required.

Other:*This entry is Required.Enter an amount between $0 and $1,000,000

Other paid:*This entry is Required.

Co-borrower income:

Co-borrower salary:*This entry is Required.Enter an amount between $0 and $1,000,000

Co-borrow salary paid:*This entry is Required.

Co-borrower commission:*This entry is Required.Enter an amount between $0 and $1,000,000

Co-borrow commission paid:*This entry is Required.

Co-borrower bonus:*This entry is Required.Enter an amount between $0 and $1,000,000

Co-borrow bonus paid:*This entry is Required.

Co-borrower other:*This entry is Required.Enter an amount between $0 and $1,000,000

Co-borrow other paid:*This entry is Required.

Monthly liabilities:

Press spacebar to show inputs

Total $450

Auto loans:*This entry is Required.Enter an amount between $0 and $100,000

Credit cards:*This entry is Required.Enter an amount between $0 and $100,000

Installment loans:*This entry is Required.Enter an amount between $0 and $100,000

Student loans:*This entry is Required.Enter an amount between $0 and $100,000

Alimony & child support:*This entry is Required.Enter an amount between $0 and $100,000

Other loans:*This entry is Required.Enter an amount between $0 and $100,000

Other:*This entry is Required.Enter an amount between $0 and $100,000

Co-borrower monthly liabilities:

Auto Loans:*This entry is Required.Enter an amount between $0 and $100,000

Credit cards:*This entry is Required.Enter an amount between $0 and $100,000

Installment loans:*This entry is Required.Enter an amount between $0 and $100,000

Student loans:*This entry is Required.Enter an amount between $0 and $100,000

Alimony child support:*This entry is Required.Enter an amount between $0 and $100,000

Other loans:*This entry is Required.Enter an amount between $0 and $100,000

Other:*This entry is Required.Enter an amount between $0 and $100,000

Monthly housing expenses:

Press spacebar to show inputs

Total $150

Real estate taxes:*This entry is Required.Enter an amount between $0 and $100,000

Taxes paid:*This entry is Required.

Annual rate:

Heat:*This entry is Required.Enter an amount between $0 and $100,000

Insurance paid:*This entry is Required.

Annual rate:

Condo Fees:*This entry is Required.Enter an amount between $0 and $100,000

Fees paid:*This entry is Required.

Annual rate:

Mortgage insurance (PMI):*This entry is Required.Enter an amount between $0 and $100,000

PMI paid:*This entry is Required.

Annual rate:

**FIG_GRAPHTITLE** Column Graph: Please view the report to see detailed calculation results in tabular form.

Qualifying Mortgage Amount for a Variety of Interest Rates

press spacebar to hide graph

Definitions

Monthly income

Total monthly income from all sources. All income should be entered before taxes.

Monthly housing expenses

Your monthly housing expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITH payment.

Monthly liabilities

Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITH.

Monthly housing payment

This is your total principal, interest, taxes, heat and 50% of your condo fee (PITH). Maximum monthly payment is calculated by taking the lower of these two calculations:

Monthly Income X 39% = monthly PITH
Monthly Income X 50% - Other loan payments = monthly PITH

This is your total principal, interest, taxes, heat and 50% of your condo fee (PITH). Maximum monthly payment is calculated by using the following calculations for the appropriate circumstance (we assume Traditional Lending for this calculator):

Traditional Lending: (A lending)
Monthly Income X 39% = monthly PITH (GDS) Monthly Income X 44% - Other loan payments = monthly PITH (TDS)

Semi-Traditional Lending: (Prime B)
Monthly Income X 45% = monthly PITH (GDS) Monthly Income X 50% - Other loan payments = monthly PITH (TDS)

Note: Some semi-traditional lenders GDS/TDS ratios may vary slightly.

Maximum principal and interest (PI)

This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITH payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.

Start interest rates at

The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.

Amortization in years

The number of years over which you will repay this loan. The most common mortgage amortization is 25 years.

Condo Fees

Condo fees, if any, for the home purchase. Only 50% of this fee is included in your monthly housing expenses when figuring your maximum mortgage.