Know Your Mortgage Payment
Based on the home's sale price, the term of the loan, buyer's down payment percentage, and the loan's interest rate, this calculator can help estimate what you'll need to pay out monthly for your new home. This calculator factors in PMI (Private Mortgage Insurance) for loans with less than a 20% down payment, as well as town property taxes and its effect on the total monthly mortgage payment.
Buying a home is a big step! Whether you're buying your first home, your dream home, or your tenth investment property, yours will be a big investment. We know how important this is to you and we have an army of experts to make sure we find the perfect property for your unique circumstances. Finding the perfect property is just one way we can help you with your real estate purchase.
In order to determine the amount of home you can afford a lender will use your debt-to-income ratio to determine the percentage of your pre-tax income you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt before buying a home it will have an impact on the amount of the loan that the lender will finance.
MEET OUR LENDER
Our lender partners at Success Mortgage Partners have you covered. You may be surprised that there’s a down payment option for every budget — and zero-down options still exist! Their low interest rates make home ownership more affordable than renting in most cases. And just as importantly, their tried-and-true underwriting systems make for a smooth, low stress closing experience. Make contact today for a free payment estimate and to learn about special programs that may work for you!
This calculator will help you to determine how much house you can afford and/or qualify for.
Complete or change the entry fields in the "Input" column of all three sections. The calculator will automatically recalculate anytime you press the Tab key after making a change to an input field.