The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... How Much Should Your Income Be?
What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.
Definitions
- Desired mortgage amount
- The total loan amount you are looking to qualify for.
- Monthly housing expenses
- Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.
- Monthly liabilities
- Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.
- Monthly housing payment (PITI)
- This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:
- Monthly Income X 28% = monthly PITI
- Monthly Income X 36% - Other loan payments = monthly PITI
- Maximum principal and interest (PI)
- This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.
- Start interest rates at
- The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
First Time Buyers >The Buyer Interview
The first step toward matching you with the perfect home usually involves an in-depth interview with the real estate agent who will help you establish a price range and determine the features that you need in a home.
The agent will ask a lot of questions, and many of them will seem very personal. What is your income and debt situation? Where do you work? Are schools an important factor? Do you have children or pets? Do you have hobbies that will create special needs?
The more information your real estate agent has, the easier it will be to eliminate the homes that will not work for you and show you the ones in your price range that should fit your needs. A good agent can be a tremendous resource in this process, providing you with information about the homes that are available, shopping facilities, community services, and public transportation. The best real estate agents are excellent listeners and counselors.
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Where is the world's largest bridge located?
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Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long. |
 See More Real Estate Trivia > |
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Charles Pence,John Hathorn,Loraine & Brett Silver
Coldwell Banker Pence Hathorn Silver
1531 Montana Ave
Santa Monica, CA 90403
310-899-3527
Fax: 310-458-5901
jh@phsrealty.com
Charles Pence, John Hathorn, Loraine Silver and Brett Silver have served the Westside for over 30 years and have over 60 years of combined experience. They are in the Top 1% of all real estate agents nationwide garnering various Coldwell Banker awards such as the Top 100, International Presidents’ Elite and Society of Excellence awards. To date, they have represented, brokered or handled transactions in excess of $2.6 billion since 1978.
Charles Pence-Lic. #00670728
John Hathorn-Lic. #00960182
Loraine Silver-Lic. #00800114
Brett Silver- Lic. #01193551
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