Fast Online Pre-approval


Are you pre- approved yet, which is the first step for successful home purchase in this low intererest rate, low price market. If not, let us structure your loan and get you the highest dollar you can qualify.

If we do your loan we will refund your appraisal fee.


How Much Can You Afford?



Our calculators 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.

 

 

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
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:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

Conforming Loan Limits


When starting to look for a house or investment property, it is important to know the price one can afford. One factor to keep in mind is  to consider Conforming vs Jumbo Loan. Rates for Jumbo Loan are much higher than the Conforming. One can get a Conforming Loan that is 80% of Purchase price and  arrange for 20% second loan or a cash or a part of it cash and rest of it second financing depending upon the FICO score and type of program.

Type of Property Conforming Loan Limit Add 20% Down in Any Form Purchase Price
Single Family Home $417,000 $104,250 $521,250
Duplex $533,850 $133,462.5 $667,312.5
Triplex $645,300 $161,325 $806,626
Fourplex $801,950 $200,487.5 $1,002,437.5