The Best Mortgage Calculators On the Web! Please try my 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 >The Rewards of Home Ownership
People buy a home for a lot of different reasons. They may want to put down roots in a community and create a sense of stability in their lives. Then there are the financial considerations and the "forced" savings that builds up in the form of equity. In addition, the monthly cost of owning a house is usually much more stable and predictable than renting.
If you are considering the possibility of purchasing a home, contact a knowledgeable real estate agent in your community. An important part of our job is to educate prospective buyers about the potential benefits and responsibilities of renting versus owning a home. We can help you determine your purchasing power and show you the best homes in your price range. We can also give you a side-by-side comparison of the costs of owning a home compared with what you pay for rent. When you fix up your home to suit your needs and taste, you benefit from the added value of the improvements instead of the landlord!
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| Q |
What is the most common name for a city in the United States?
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| A |
Fairview is the most common city name, according to the 1996 Top Ten of Everything Book. |
 See More Real Estate Trivia > |
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Nancy Stone Bourgeois
Keller Williams Realty
243 Beauvoir Road, Suite A
Biloxi, MS 39531
228-216-2333
Fax: 866-661-9266
nancybourgeois@NUMBER1EXPERT.com
"My mission is to make your buying or selling of real estate a pleasurable experience." As a top producer for over ten years, Nancy maintains the highest level of professionalism. She has 17 years of marketing experience, complemented by her honesty, integrity and high energy. Nancy is extremely knowledgeable about trends and lifestyles on the Mississippi Gulf Coast, where she was born and raised. She is a skilled negotiator, knows the area and is second to none in finding homes to match your needs. Nancy's excellence and vision in Real Estate can bring you Results!   
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