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How Much Can You Afford?
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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. In today's market with tightened loan guidelines I recommend getting pre-approved by a qualified loan officer from a mortgage bank before starting your search. Many of my clients are approved for a lot more than they feel comfortable paying per month. I recommend figuring out what monthly payment you feel comfortable paying with principle, interest, taxes and insurance. Then have a qualified loan officer help you back into what the purchase price for that monthly payment will be once you factor in your down payment amount. If you don't have a lender contact Virginia Coppolino with Wells Fargo Mortgage and tell her that Kim Darwaza referred you! Virginia Coppolino
Mortgage Consultant
Wells Fargo Mortgage 571-214-0275
virginia.m.coppolino@wellsfargo.com application: www.wfhm.com/virginia-coppolino
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
%): |
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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| Income Needed to Qualify for the Mortgage |
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| Total Monthly Loan Payment: |
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| Total Monthly Debt Payment: |
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| Monthly Loan Insurance (%): |
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| Qualifying Income of
% GDS Ratio: |
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| Qualifying Income of % TDS Ratio: |
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| What You Can Afford |
| We are using the % ratio.
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| Cost of House: |
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| Down Payment: |
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| Loan Value: |
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| Monthly Principal & Interest: |
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| Monthly Insurance: |
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| Monthly Property Tax: |
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| Monthly Condo Fees: |
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| Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate) |
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