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Your Maximum Mortgage ...
The Best Mortgage Calculators On the Web!
Please try our 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. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
What's Your Maximum Mortgage?
What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.
Definitions
Monthly income
Total monthly income from all sources. All income should be entered before taxes.
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.
The Driver Team RE/MAX ALL STARS 2845 N. Houston Levee Suite 103 Memphis, TN 38016 DIRECT: 901-674-SOLD (7653) Office: 901-387-1199 Fax:: 901-881-0675 Email: Driverteam@earthlink.net
The Driver Team "At Your Service"
Bob and Rita understand the magnitude of your decision to buy a home. We understand that you have definite ideas about what features you are looking for in a home, and most of all, we understand that your time is valuable. The Driver Team wants your home buying experience to be fun and exciting, and not time consuming.
Our Team works constantly to improve our systems, process and services to go well beyond the standard level of service provided by most agents. Simply put, our objectives are to get your home sold quickly, for the highest price possible and with the least amount of stress. We want to provide the best service available in the industry. We want to make you so satisfied that you listed your home with us that you will gladly refer the Driver Team to your friends, family and business associates.
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