Kathy Hyatt
Kathy Hyatt ~ Keyes Real Estate Call 954-347-0244 Kathy Sells South Florida

Easy Mtg Qualification


 Easy Mortgage Qualification

The First Step in buying a House is determining your Budget. This calculator steps you through the process of finding out how much you can borrow. This will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

 

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link. 

To obtain a very clear picture of how much home you can actually qualify for, the best idea is to contact a reputable local lender and let them analyze your entire situation.  I recommend Mark with Gulf Atlantic Funding. Mark can be reached at:   
Gulf Atlantic Funding Mortgage
Mark Hyatt, VP
5400 S. University Drive
Davie, Florida
Direct 954-658-7893
Fax 954-252-1796

 Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. 

To email yourself a copy of the results, click the Receive this Detailed Analysis link

 

 
Required
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
0.43%of Cost
Annual Property Tax:  $  
1.2%of Cost
Monthly Income:  $
Monthly Debt:  $
Optional
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $

Results
  Receive this Detailed Analysis


Your Monthly Payments
 
Loan Amount:    
Loan Insurance ( %):
Total Loan(Mortgage) Amount:
 
Principal & Interest:    
Homeowners Insurance:    
Property Taxes:    
Condo Fees:    
Monthly Loan Insurance (%):    
Total Monthly Payment:    
 
Income Needed to Qualify for the Mortgage
 
Total Monthly Loan Payment:  
Total Monthly Debt Payment:  
Monthly Loan Insurance (%):  
Qualifying Income of % GDS Ratio:  
Qualifying Income of % TDS Ratio:  
 
What You Can Afford
We are using the % ratio.
Cost of House:  
Down Payment:  
Loan Value:  
Monthly Principal & Interest:  
Monthly Insurance:  
Monthly Property Tax:  
Monthly Condo Fees:  
 
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
Monthly Rent: $
  No. of Years you plan on keeping the home:
Annual Rental Increases:   %   Yearly Appreciation on the Home: %
Monthly Renter Insurance: $   Annual Home Maintenance: %
Savings or Investment Rate:   %  



 


 

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