MaxInFocus Financial Resources
A full service mortgage provider
September 5, 2010 9:52 pm
www.maxinfocusfinancialresources.com
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MaxInFocus Financial Resources - Tools
How much can you afford?
See if Your Income is Sufficient to Qualify
Loan Amount Desired?
Mortgage Length
Years
Interest
%
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
Summary
Monthly Principal + Interest
Total Housing Payment
Required Salary
Your salary must meet the following two conditions:
Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.
DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.
Home Finance Tools
How Much Can You Afford?
How Much Can I Borrow?
Debt to Income Ratio
How Much Will I Save when I re-finance?
IMPORTANT CALCULATIONS
If you are seeking a loan, start here!
All Lenders require that you meet certain criteria before you can get a loan. Use these calculators with your verifiable data to see if you really will qualify!
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