Welcome to the Mortgage Calculator page.

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One of the first questions every Buyer should ask is “What price property can I afford?” The easiest way to answer that question is to spend about ten minutes by telephone with a loan officer and become pre-qualified. We always recommend speaking with more than one person initially for comparison purposes, then apply with one person who will work closely with you during the loan process.

In general, the criteria will include:

1. Your gross income
2. Cash liquidity for down payment, closing costs, and reserve requirements
3. Current debts
4. Credit history
5. Type of mortgage loan you select
6. Current interest rates
7. Any company sponsored relocation assistance

A very broad ratio for conventional approval would be no more than 28% of gross monthly income for your mortgage payment and no more than 36% of gross monthly income for debts. Your lender will calculate your total projected monthly housing expense: principal & interest, taxes, and insurance (PITI) plus any other fixed expenses such as home owner’s association dues. The new ratio should fall between 28-33% with a debt ratio of 34-38% in most cases. Please note-every lender has their own criteria and program underwriting which may call for specific numbers.

Please understand that it is impossible to give exact figures in this general format on qualifying for a loan as each individual situation is different. However, these calculators will give you a good idea of what you will need as a starting point.

For a real pre-qualification, just email us and we'll set it up for you with no obligation.

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