Mortgage Qualification Calculator This estimator will calculate the household income required to qualify for a mortgage under a specific set of circumstances. It will calculate the monthly mortgage payment, your total monthly debt payments, and the annual household income that most lenders would require to approve the mortgage loan.
Mortgage Amount
Balance to be financed after down payment.
Life of Mortgage in years
Number of years over which mortgage payments are scheduled.
Mortgage Interest Rate (%)
Mortgage Interest Rate Percentage.
Yearly Property Taxes
(.013 X Assessed Value) or (.013 X Sale Price) Based upon tax assessment of $13 per $1,000
Other Debt
Other Yearly DEBT (Auto, Charge Cards, Bank Loan ...)
(Total of Monthly Payments X 12) DO NOT include:
utilities, insurance premiums or average expense for food, clothing, etc.
