Mortgage Qualification Calculator
Use this calculator to help you determine the most expensive house you would qualify for. Enter your monthly income, all monthly debt expenses (credit card payments, car payments, loan payments, and any other expenses), and information about your mortgage (down payment amount, loan term, interest rate, property tax rate, private mortgage insurance (PMI), and monthly association dues). This calculator will then show you the highest monthly payment you can afford and the highest priced home you can afford to keep your total monthly housing expenses less than 28% and your debt ratio less than 36% of your total gross monthly income. In general, most lenders do not want your total monthly housing expenses (including property taxes, private mortgage insurance (PMI), and association dues) to exceed 28% of your total gross monthly income. And your total debt ratio cannot exceed 36% of your total gross monthly income.
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Popup
Copy this text to popup the calculator in its own window. It is important to use your Account Number instead of 1 as shown in this example.
<script language="JavaScript" type="text/javascript">
<!--
//Mortgage Qualification
function MortgageQualification()
{
window.open('http://www.webcalcsolutions.com/Mortgage-Calculators/Mortgage-Qualification.asp?AcctNum=1', '_blank', 'width=550,height=935,directories=0,location=0,menubar=0,resizable=1,scrollbars=1,status=0,toolbar=0');
}
-->
</script>
<i>Other Mortgage Calculators</i><br>
<a href="javascript:MortgageQualification();">Mortgage Qualification</a><br>
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Embedded
Copy this text to embed the calculator in your webpage.It is important to use your Account Number instead of 1 as shown in this example.
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<iframe src="http://www.webcalcsolutions.com/Mortgage-Calculators/Mortgage-Qualification.asp?AcctNum=1" width="550" height="935" frameborder="0" scrolling="auto"><a href="http://www.webcalcsolutions.com/Mortgage-Calculators/Catalog.asp" target="_blank">Mortgage Qualification Calculator</a></iframe>
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Customizable Field Values
You can customize the following field values for this calculator. When the calculator runs it will have
the values you set for these fields. It is important to use your Account Number instead of 1
as shown in this example.
Mortgage Qualification Calculator's Customizable Fields |
Screen Name |
Parm Name |
Parm Value Used in this Example |
Title |
Title |
Mr. & Mrs. O'Riley |
Gross Montly Salary/Income |
GrossInc |
4,500.00 |
Other Monthly Income |
OtherInc |
250.00 |
Car Payments |
CarPmt |
300.00 |
Credit Card Payments |
CCPmt |
150.00 |
Other Loan Payments |
LoanPmt |
200.00 |
Other Monthly Payments |
OtherPmt |
450.00 |
Down Payment |
DownPmt |
8,000.00 |
Interest Rate |
IntRate |
6.25 |
Length of Loan |
Length |
360 |
Years/Months (drop-down) |
LengthPrd |
Months |
Annual Property Tax Rate |
PropTaxRate |
0.65 |
Homeowner's Insurance |
InsPmt |
35.00 |
Homeowner's Insurance Year/Month (drop-down) |
InsPrd |
Month |
Private Mortgage Insurance |
PMI |
50.00 |
Private Mortgage Insurance Year/Month (drop-down) |
PMIPrd |
Month |
Associate Dues |
DuesPmt |
40.00 |
Associate Dues Year/Month (drop-down) |
DuesPrd |
Month |
Other Escrow |
EscrowPmt |
25.00 |
Other Escrow Year/Month (drop-down) |
EscrowPrd |
Month |
View Customized Calculator
<script language="JavaScript" type="text/javascript">
<!--
//Mortgage Qualification
function MortgageQualification()
{
window.open('http://www.webcalcsolutions.com/Mortgage-Calculators/Mortgage-Qualification.asp?AcctNum=1&' + 'Title=Mr. %26 Mrs. O%27Riley&GrossInc=4,500.00&OtherInc=250.00&CarPmt=300.00&' + 'CCPmt=150.00&LoanPmt=200.00&OtherPmt=450.00&DownPmt=8,000.00&IntRate=6.25&' + 'Length=360&LengthPrd=Months&PropTaxRate=0.65&InsPmt=35.00&InsPrd=Month&' + 'PMI=50.00&PMIPrd=Month&DuesPmt=40.00&DuesPrd=Month&EscrowPmt=25.00&' + 'EscrowPrd=Month',
'_blank',
'width=550,height=935,directories=0,location=0,menubar=0,resizable=1,scrollbars=1,status=0,toolbar=0');
}
-->
</script>
<a href="javascript:MortgageQualification();">Mortgage Qualification</a><br>
<br>
<a href='http://www.webcalcsolutions.com/' style='font-size: 8pt;'>Online Calculators - Financial Calculators, Health Calculators, and Health Assessments from WebCalcSolutions.com</a><br>
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Our examples have special characters (& or ') that must be encoded
to be interpreted properly by the browser. If the customized text you want to use
has any of these characters (&, ' [apostrophe or single-quote],
#, ?, ", \ or %) we have provided this Encode
tool so you can see how to type it into your script. Enter your customized text
then select 'Encode'. The encoded text will show up in the lower box and can be
copied and pasted directly into your script.
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