I am Never too busy for your Referrals!

How Much Can You Afford?


 
Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
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: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Be Prepared to get Your Loan


Here is a list of items your lender may ask you for.  Be prepared to get your loan fast!

*To verify the amount of money you earn (any or all that apply to you and every person signing the loan):

1.  Copies of personal tax forms for the last two to three years.

2.   If you are self employed,  W-2 forms or business tax return forms for the last two years.

3.    Copies of two months pay check stubs from every person signing the loan.

*To verify Funds (any or all that apply to you and every person signing the loan):

4.    Copies of you last four months of bank or credit union statements for both checking and savings accounts.

5.      Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account.

6.      Copies of your most recent 401(k) or other retirement account statement.

7.       Documentation to verify additional income, such as child support, pension, etc.

*To verify your debts (any or all that apply to you and every person signing the loan):

8.      List all Account numbers of all your credit cards and the amounts of any outstanding balances.

9.    List all  Lenders, loan number, and amount owed on other installment loans-student loans, car loans, etc.

10.  Addresses where you have lived for the last seven years, with names of landlords if applicable.

 

If you have any questions please feel free to call any of our perferred lenders from our perferred lender list.