Mortgage Payment Calculator
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Mortgage Qualification
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Title
Monthly Income
Gross Monthly Salary/Income
Other Monthly Income
Total Monthly Income
Monthly Expenses
Car Payments
Credit Card Payments
Other Loan Payments
Other Monthly Payments
Total Monthly Expenses
Mortgage Information
Down Payment
Interest Rate %
Length of Loan
Anticipated Mortgage Escrow Expenses
Annual Property Tax Rate %
Homeowner's Insurance per
Private Mortgage Insurance per
Association Dues (if any) per
Other Escrow per
Monthly Mortgage Payment Breakdown
Principal & Interest
Property Taxes
Homeowner's Insurance
Private Mortgage Insurance
Association Dues
Other Escrow
Qualification Calculations
Likely Max Monthly Mortgage
Housing Debt Ratio %  (28% maximum)
Total Debt Ratio %  (36% maximum)
Likely Loan Amount
Qualifying Home Value  (includes Down Payment)
All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Mortgage calculator results are based upon conventional program guidelines. Other loan programs are available. Further review by a professional is necessary to obtain exact and complete information and available options for your personal circumstances.
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A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Normal monthly income, including taxes, but not including alimony, child support, etc.
Other monthly income such as alimony or child support.
Total amount of 'Monthly Income' entered.
The total amount you spend each month for all car payments.
The total amount you spend each month for all credit card payments.
The total amount you spend each month for all loans (not to include mortgage).
Total of all other monthly obligations you have. (Examples are alimony, child support, legal judgment.)
Total amount of 'Monthly Expenses' entered.
The amount of money you plan to put as a down payment on your property.
The annual percentage rate you will pay for this loan.
How long you will pay on this loan. Also choose whether 'Length of Loan' is years or months.
The percentage of your home's value that your local government charges annually for property taxes.
The likely amount you will pay for homeowner's insurance on a property valued around the price shown as 'Qualifying Home Value'. Also choose whether this is the amount you will pay per year or month.
The likely amount you will pay for private mortgage insurance (PMI) on a loan around the amount shown as 'Likely Loan Amount'. (You will probably pay private mortgage insurance if you borrow at least 80% of your property's value.) Also choose whether this is the amount you will pay per year or month.
Any Homeowner's Association dues you will owe as part of your property's Covenants and Restrictions (CCRs). Also choose whether this is the amount you will pay per year or month.
Any other escrow charges (not property taxes, homeowner's insurance, private mortgage insurance (PMI), or association dues since those are entered individually) that will be paid with your monthly mortgage. (If you're borrowing more that 80% of the home's value you'll likely pay PMI.) One example might be Special Service District (SSD) charges. Also choose whether this is the amount you will pay per year or month.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your monthly principal & interest payment.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your monthly property tax payment.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your monthly homeowner's insurance payment. If 'Homeowner's Insurance' expense (in the section above) is per 'Year', this will be calculated as 'Homeowner's Insurance' / 12 to get the monthly amount.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your monthly private mortgage insurance (PMI) payment. If 'Private Mortgage Insurance' expense (in the section above) is per 'Year', this will be calculated as 'Private Mortgage Insurance' / 12 to get the monthly amount.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your monthly homeowner's association dues payment. If 'Association Dues' expense (in the section above) is per Year, this will be calculated as 'Association Dues' / 12 to get the monthly amount.
The portion of 'Likely Max Monthly Mortgage' (shown in the next section) that represents your other monthly escrow payment. If 'Other Escrow' expense (in the section above) is per 'Year', this will be calculated as 'Other Escrow' / 12 to get the monthly amount.
Based on your monthly expenses, down payment, anticipated interest rate and mortgage escrow expenses, your monthly mortgage payment should be at most this amount.
The percentage of your monthly income that goes to pay for housing.
The percentage of your monthly income that goes to pay all your debt (including housing).
A mortgage lender will likely finance about this amount for you. This amount is calculated on either your 'Housing Debt Ratio' reaching the maximum 28% or your 'Total Debt Ratio' reaching the maximum 36%.
You should be looking to buy a home or property valued at this or less. This amount is simply the 'Likely Loan Amount' + 'Down Payment' amounts.
Either 'Housing Debt Ratio' or 'Total Debt Ratio' will be at its maximum all the time. 'Total Monthly Housing Expenses' increases when 'Total Monthly Income' is increased or 'Total Monthly Expenses' is decreased.