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Monthly income
Wages before taxes or deductions
$
Investment income before taxes
$
Income from rental properties
$ Other income
$
Monthly Payments *
Auto loans
$
Student loans
$ Rental property loans ($0 if refinancing)
$ Other payments
$ * Include only loans that won't be paid off in 10 months
Other debts
Monthly alimony, child support or other
$
Monthly credit card payments
$
Loan terms you desire
Interest rate
%
Term (years)
Down payment (% of price)
%
Taxes & insurance you expect
Yearly property tax
$
Yearly property insurance $
NOTE: Please be sure that you've entered a monthly (not yearly) income figure in the field labeled "Wages Before Taxes or Deductions" and all other fields relating to income.
The amount you can borrow, based upon various down payments, including the down payment you indicated:
A conservative estimate
Percent down
5.00% 10.00% 20.00% 35.00% Down payment amount
$6,468 $14,093 $33,883 $72,980
Loan amount
$122,896 $126,838 $135,534 $135,534
Price of home
$129,364 $140,931 $169,417 $208,514
Your future monthly payment
Principal and interest
$777 $802 $857 $857
Taxes and insurance
$183 $183 $183 $183
Mortgage insurance
$80 $55 $0 $0
Total monthly payment
$1,040 $1,040 $1,040 $1,040
An aggressive estimate
Percent down
5.00% 10.00% 20.00% 35.00%
Down payment amount
$7,072 $16,725 $43,376 $93,426
Loan amount
$134,372 $150,528 $173,505 $173,505
Price of home
$141,445 $167,253 $216,881 $266,930
Your future monthly payment
Principal and interest
$849 $951 $1,097 $1,097
Taxes and insurance
$183 $183 $183 $183
Mortgage insurance
$87 $65 $0 $0
Total monthly payment
$1,120 $1,200 $1,280 $1,280
This graph illustrates the loan amount for which you may be able to qualify. The higher the amount of your monthly debt, the lower the amount of the loan you can obtain. The data shown in the graph represents the conservative scenario with a 35% down payment.
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