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 >Determining A Price Range
If you are working with a real estate agent to find a new home, the agent will probably ask a lot of questions about your income, liquid assets, and debt situation. The real estate agent needs such information to help you determine your price range.
Whether you are buying your first home, or moving up, your agent can give you solid advice on how to maximize your buying power. With so many mortgage alternatives available, you may find that you can buy more than you thought. Your individual situation might make some types of mortgages or financing more of a risk than you really want to take. Each buyer's situation is unique, and real estate agents understand the importance of finding you the perfect home and the perfect financing to enable you to afford it.
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During what great land boom (1919) did investors pay up to $25,000 for lots that had not yet been dredged up from the ocean?
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The Florida Land Boom--Carl Fisher founded Miami Beach that year and brought hundreds of investors to the state. |
 See More Real Estate Trivia > |
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Team Leilani Cunningham
Coldwell Banker Pacific Properties
4211 Waialae Ave. Kahala Mall Rooftop, Suite UW1
Honolulu, HI 96816
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Email: Leilani@TeamLeilani.com
Leilani Cunningham was born and raised on Oahu. Living in the islands and remembering all the wonderful places, experiences, and people that have been part of her life growing up in Hawaii means she can offer local expertise for clients searching for just the right home, work experience to help market her clients’ properties effectively, and valuable business relationships to support smooth closing for all parties in every transaction. Leilani is excited to now have her daughter Kahi working as her associate.
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