Yahoo Mortgage Calculator - How Much Income Do I Need?

home>calculators>qualify

How Much Income Do I Need ?

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ratio) used in this calculation is 30%. The housing expense, or front ratio, compares your total mortgage payment to your monthly income. The total debt expense ratio (or back ratio) is 36%. This total debt expense, or back ratio, compares your total monthly obligations including your total mortgage payment to your monthly income.

How Much Income Do I Need ?
	Property Information
		Property Value
		Monthly Taxes
		Monthly Hazard Insurance
	Estimate Taxes And Insurance
	Program

	Loan Information
		Zip Code
		Interest Rate
		Term in Years
		Down Payment
		Front Ratio (%)
		Back Ratio (%)

Inquire Now!

Fill out a quick and easy one step form and you will be contacted by up to 4 mortgage lenders regarding your loan.

*This calculator tells you how much you need to qualify for the home you want.

You may enter specific information about your annual taxes and hazard insurance, or may select the box to have this calculator estimate your annual taxes and insurance. Any fields you leave blank will be assumed to be zero. In either case, the results displayed above are only estimates of the amount of income you may need to qualify for a loan in the amount you enter. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

Daily Rate Averages
30 Yr Fxd	6.38 %
15 Yr Fxd	5.94 %
7/1 ARM	6.50 %
3/1 ARM	5.88 %
5/1 ARM	6.31 %
Full Rate Averages Update: 10/15/2008
Add Tool To Your Site

Signup for News | Email Page | Add Tools | Link to Us

MORTGAGE LINKS

Mortgage Advice
Mortgage Rates
Mortgage Payment Calculator
Refinance Calculator

Mortgage News
Mortgage Interest Rate Blog
Mortgage Home Buying Blog
Mortgage Information Library

Lenders & Partners
Mortgage Lender Directory
Search Homes For Sale
Moving Quotes