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Online Mortgage Calculator

This calculator will help you determine the loan amount that will fit into your budget, assist with mortgage qualification and affordability or whether renting or buying is your best financial option.

Remember to be honest with yourself. You want to make a budget that reflects your real life spending habits and bills. This will help you find the perfect house that is within your budget.

Complete the fields listed below and click Calculate Now. To view the results of each calculation, click on the various tabs. If you would like a copy of your resultsl, click the Receive this Detailed Analysis link and your results will be emailed directly to you.

Would you like a list of local Mortgage Brokers? Please email me and I will send a list of qualified brokers to you.

Required

Required Must be a number between 1 and 50
Term In Years:
Required Must be a number between 1 and 100
Interest Rate:	%
Required
Cost of Home:	$
Required Cannot be more than Cost of Home
Down Payment:	$
Required
Annual Insurance:	$
Estimate Insurance to 0.43%of Cost
Required
Annual Property Tax:	$
Estimate Tax to 1.2%of Cost
Monthly Income:	$ Required
Monthly Debt:	$ Required

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage
Qualification
Affordability
Rent vs Buy

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:

Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Monthly Rent:	$ RequiredMust be a positive number	No. of Years you plan on keeping the home:	RequiredInvalid
Annual Rental Increases:	% RequiredInvalid	Yearly Appreciation on the Home:	% RequiredInvalid
Monthly Renter Insurance:	$ RequiredInvalid	Annual Home Maintenance:	% RequiredInvalid
Savings or Investment Rate:	% RequiredInvalid

RISMedia Real Estate News | Industry Trends | Margreat free widgetsWidgetboxMore info

News

Home mortgage rates and real estate news - CNNMoney.com
Banks paying delinquent borrowers to sell their homes	2/10/2012 10:02 AM
In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure.
Mortgage deal means more foreclosures	2/10/2012 3:47 PM
Even as the $26 billion mortgage settlement helps hundreds of thousands of troubled homeowners, it will bring a wave of new forclosures.
What the foreclosure settlement means for you	2/9/2012 4:50 PM
The nation's five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.
30-year mortgage rate holds at record low	2/9/2012 11:39 AM
Rates on 30-year fixed mortgages remained at an all-time record low for the second week in a row.
Mortgage deal could bring billions in relief	2/9/2012 5:01 PM
In the largest deal to date aimed at addressing the housing meltdown, federal and state officials on Thursday announced a $26 billion foreclosure settlement with five of the largest home lenders.
Big states set to make mortgage deal real	2/9/2012 7:44 AM
New York and California will join just about all the other states in a settlement with the nation's largest banks aimed at helping homeowners struggling with loans bigger than the value of their homes, according to a person familiar with the talks.
Homes in foreclosure decline by 130,000	2/8/2012 8:09 AM
Slowly, but surely, the foreclosure crisis seems to be abating.
Housing: The one bailout America could really use	1/17/2012 6:20 PM
Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She's long been a star among Wall Street insiders, however. She holds the record for the most top rankings for fixed-in-come research from the trade bible Institutional Investor.
Foreclosure deal has 40 states, but others balk	2/7/2012 6:24 AM
More than 40 states have signed on to a draft deal settling claims of improper mortgage servicing that's aimed at relieving homeowners struggling with loans bigger than their home's value.
Finally, a foreclosure settlement (Maybe)	2/3/2012 4:21 AM
States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.