| How
Much Can I Afford ?
Find
out what type of home is in your budget by entering
a few numbers into our calculator. Our calculator is
based on standard affordability ratios used to determine
qualification for mortgage approvals. The housing payment
ratio (or front ratio) compares your total mortgage
payment to your monthly income and your total debt ratio
(or back ratio) compares your total monthly obligations
including your mortgage payment to your monthly income.
Mortage
Calculators >>>
How
Much Income Do I Need ?
Mortgage
companies use ratios to analyze your mortgage payment.
The housing payment ratio (or front ratio) used in this
calculation is 30%. The housing expense, or front ratio,
compares your total mortgage payment to your monthly
income. The total debt expense ratio (or back ratio)
is 36%. This total debt expense, or back ratio, compares
your total monthly obligations including your total
mortgage payment to your monthly income.
Mortage
Calculators >>>
Tax
Benefits of Buying a Home
This
calculator estimates the tax benefit of buying a home.
Input your loan parameters and the month you purchased
the home. Since home interest and points are captured
in itemized deductions, please estimate your Schedule
A itemized deductions. Your itemized deductions including
your mortgage deductions will be compared to your standard
deduction to calculate the tax benefit of purchasing
your home.
Mortage
Calculators >>>
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