Pre-Qualification
Use this calculator to determine a home purchase price for which you may qualify.
 
Income and Debts:
Enter Annual Income Figures
Borrower 1 + Borrower 2 =
Enter the total of your regular monthly debts
 
Maximum Debt Ratio equals - This can range from approximately 38 to 55%
 
Total monthly income available for housing payments =
 
 
Property Expenses & Loan Terms   Monthly
Expected Annual Real Estate Taxes
 
 
Annual Home Owners or Hazard Insurance equals
 
 
Monthly Condo, Coop or Association Fees will equal
 
 
If making less than a 20% down payment, calculate approximate MI/PMI
 
Loan Term = Rate =
Cost per $1,000 of loan amount =
 
 
Maximum Potential Loan Amount available
 
Down Payment Funds Available (be sure to leave enough for closing costs, pre-paid taxes, insurance, etc.)
 
Maximum Purchase Price (potential loan amount plus down payment funds)
 
While this analysis can be very accurate, there are also a world of factors that impact the ability to qualify for any particular loan amount or purchase price. This is a good starting point and an easy way to begin to understand how the process works. However, it shouldn't be used as a substitute for a more comprehensive analysis. The Quick Qualification Analysis Calculator should be used to explore further or you may contact me at any time to help you determine what may be appropriate for you.


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