| Use the calculator below to give you
an idea of how much of a mortgage you can afford. However, it
is meant to be a guideline, not a rule. We have many programs
available that can maximize the amount of a home you can afford.
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| Desired mortgage amount: |
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| Mortgage length (in years) |
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| Interest % |
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| Annual property tax |
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| Total monthly payments not including mortgage (car, loans, credit
cards, etc). |
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| |
|
Summary |
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| Monthly Principal + Interest |
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| Total Monthly Obligations |
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| Required Salary |
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Listed below are the basic guidelines of how our
industry determines how much of a mortgage payment you qualify
for.
- Your gross (before taxes) monthly salary should be greater than
28% of the sum of the monthly mortgage and monthly tax payments.
- Your gross (before taxes) monthly salary should be greater than
36% of the sum of the monthly mortgage, monthly tax and other
monthly debt payments.
Loan Calculators are tools designed to help you. However, we can
help you know exactly what you qualify for. |
