How much can you afford? What your mortgage payment will be?
With this very easy to use affordability calculator, estimate the amount of a home loan you may qualify for. Once you entered a few details such as your monthly income, your monthly expenses, the amount of money you have for down payment and the interest rate – based on todays rate – you think you may qualify for and the results will magically appeared below the form.
Here is how to complete this form:
- Monthly Income: Take your gross monthly income from your paycheck or from your last year’s W2 form and divide that by 12.
- Monthly Expenses: add only the minimum amounts of all payments reported on your credit report such as credit card minimum monthly payment, your car payment, any student loans or furniture monthly payments.
- Downpayment: No only what you have available in the bank or on your 401K but also a gift you expect to get from a family member.
- Interest Rate: Check our partners website at Althas Mortgage for today’s mortgage rates
Enter your information below:
|Monthly Gross Income||$|
|Monthly Debt Expenses [?]
Monthly Debt and Obligations Should Include:
For a more details about your estimated mortgage payment, the mortgage calculators at our partners at Althas Mortgage can provide more details such as adding the HOA payment, Tax Payments and amortization schedule. Try it by clicking the picture below.
or check these links