| Mortgage Amount For Your New Home |
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Term Of Mortgage In Years (15, 30 40, etc.)
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| Annual Real Estate taxes (est. x .02) |
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| Total For Other Monthly Payments (i.e. car loan, credit cards, etc). |
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| Monthly Principal + Interest Payment |
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| Total Mortgage And Escrow Payment (tax & insurance incl.) |
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| Annual Income Required To Purchase |
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Your income may have to meet the following:
- Your gross pre-tax monthly income should be
greater than 28-30% of the sum of the monthly mortgage and monthly tax
payments.
- Your gross pre-tax monthly income should be
greater than 35-40% of the sum of the monthly mortgage, monthly tax and
other monthly debt payments depending on the mortgage amount.
DISCLAIMER: Information contained on this site is for educational
purposes only. Seek a competent professional morgage broker or online
mortgage company for guidance before undertaking any debt..
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