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Pre-Qualify: How much do I qualify for?

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Description
Enter the total pre-tax monthly income of all borrowers. Enter the total monthly obligations of all borrowers. Include minimum monthly payments of all accounts that will not be paid off in less than 10 months to calculate your monthly obligations. Enter expected mortgage rate and term and amount available for your down payment.
Pre-Qualify: How much do I qualify for?
Monthly income
Income ($)  Glossary of Terms
Overtime ($)  Glossary of Terms
Bonuses ($)  Glossary of Terms
Commissions ($)  Glossary of Terms
Dividends / Interest ($)  Glossary of Terms
Other income ($)  Glossary of Terms

Prospective Loan Information
Interest rate (%)  Glossary of Terms
Property Tax Rate (%)  Glossary of Terms
Property Insurance Rate (%)  Glossary of Terms
Condo. Association Fee ($)  Glossary of Terms
Term in Years  Glossary of Terms
Misc. Expenses ($)  Glossary of Terms
Monthly payments
Auto Loans ($)  Glossary of Terms
Student Loan ($)  Glossary of Terms
Credit Card Payments ($)  Glossary of Terms
Other Loans ($)  Glossary of Terms
Child Support/Alimony ($)  Glossary of Terms

Result
Conservative Estimate Aggressive Estimate
Debt Ratio: 28/36 28/36 33/38 35/41 42/42 45/45
Down Payment: 5% 10% 20% 5% 10% 20%
Max Property Value: $95t112.00 $101t380.00 $138t924.00 $118t854.00 $152t410.00 $189t690.00
Downpayment Ammount: $4t756.00 $10t138.00 $27t785.00 $5t943.00 $15t241.00 $37t938.00
Mortgage Amount: $90t356.00 $91t242.00 $111t139.00 $112t911.00 $137t169.00 $151t752.00
Mortgage Payment: $663.50 $670.00 $816.00 $829.00 $1t007.00 $1t113.50
Property Tax: $99.00 $106.00 $145.00 $124.00 $159.00 $198.00
Property Insurance: $23.00 $23.00 $28.00 $28.00 $34.00 $38.00
PMI: $54.00 $40.00 $0.00 $68.00 $59.00 $0.00
Association/Misc Fee: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Housing Payment: $840.00 $840.00 $990.00 $1t050.00 $1t260.00 $1t350.00

Glossary of Terms
Income: Monthly income before tax. Return to Top
Overtime: Overtime hours worked on a monthly basis expressed in dollars. Return to Top
Bonuses: Monthly bonuses. Return to Top
Commissions: Commissions earned on a monthly basis. Return to Top
Dividends / Interest: Monthly dividends and interest income. Return to Top
Other income: Other income not already mentioned. Return to Top
Interest rate: The amount of interest charged on a monthly loan payment; usually expressed as a percentage. Return to Top
Property Tax Rate: Property taxes paid expressed in percentage terms of the home value. Return to Top
Property Insurance Rate: Property insurance premiums paid expressed in percentage terms of the home value. Return to Top
Condo. Association Fee: Condo fees paid on annualized basis. Return to Top
Term in Years: The duration of the mortgage loan. Return to Top
Misc. Expenses: Expenses incurred to maintain the upkeep of the residential property such as unexpected repairs for plumbing. Return to Top
Auto Loans: The monthly payment of an auto loan or lease of all the borrowers. Return to Top
Student Loan: The monthly payment of all the borrowers' student loans. Return to Top
Credit Card Payments: The monthly payments made against the credit card balances. Return to Top
Other Loans: The monthly payments on loans for items such as furniture and recreational vehicles. Return to Top
Child Support/Alimony: Monthly payments made for alimony and child support. Return to Top

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.