Mortgage Calculators and pre approval

How Much You Can Afford

Enjoy the use of this dynamic mortgage calculator and freely receive your detailled analysis. This calculator exists to assist you in gaging approximately the mortgage amount, however, only your banker can give exact and final figures. Remember to always check with a mortgage specialist for a conclusive amount based on the specific property of your choice.

Required Fields
	Required term in years Must be a number between 1 and 50
Term In Years:
	Required interest rate Must be a number between 1 and 100
Interest Rate:	%
	Required cost of home
Cost of Home:	$
	Required down payment Cannot be more than Cost of Home
Down Payment:	$
	Required annual insurance
Annual Insurance:	$
	Estimate Insurance to 0.43% of Cost
	Required annual property tax
Annual Property Tax:	$
	Estimate Tax to 1.2% of Cost
	Required monthly income
Monthly Income:	$
	Required monthly debt
Monthly Debt:	$
Optional Fields
Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Renting
Monthly Rent: $	RequiredMust be a positive number
Annual Rental Increases:	RequiredInvalid%
Monthly Renter Insurance: $	RequiredInvalid
Savings or Investment Rate:	RequiredInvalid%

Owning
Planned # of years in home:	RequiredInvalid
Yearly appreciation of the home:	RequiredInvalid%
Annual home maintenance:	RequiredInvalid%

How Much You Can Afford