NMLS #355882 - 2250 Westchester Avenue, Bronx, NY 10462

Conventional Mortgage Qualification Calculator

Add your income information
Income Annual Income Monthly Income
Salary or wages
$
$0.00
Other salary or wages
$
$0.00
Rental income
$
$0.00
Investment income
$
$0.00
Additional income
$
$0.00
Total income
$0.00
$0.00
*The result of these calculations is for ilustrative purposes only. For a real case scenarios, please contact us.
Add your debt information
Long Term Debts Monthly Debt Annual Debt
Car loan payments
$
$0.00
Credit card payments
$
$0.00
Other loan payment
$
$0.00
Other loan payment
$
$0.00
Total debts
$0.00
$0.00
*The result of these calculations is for ilustrative purposes only. For a real case scenarios, please contact us.
Qualifying Numbers Configuration.
Housing cost ratio
0.
Total debt service ratio
0.
*The result of these calculations is for ilustrative purposes only. For a real case scenarios, please contact us.
Qualifying Numbers Calculations
First Qualifying Number Second Qualifying Number
Total income
$0.00
Total income
$0.00
x 0.45 =
$0.00
x 0.55 =
$0.00
/ 12 =
$0.00
/ 12 =
$0.00
$0.00
$0.00
You may qualify for monthly payments of: $0.00
*The result of these calculations is for ilustrative purposes only. For a real case scenarios, please contact us.
  • The first qualifying number calculates your maximum monthly payment, assuming you have no long-term debt. It is computed by multiplying your total income by your housing cost ratio and dividing the result by 12.
  • The second qualifying number takes into account your monthly debt payments, applying your total debt service ratio.
  • Mortgage companies usually qualify you for monthly payments that are no higher than the lesser of the two results. By default, this worksheet assumes a housing cost ratio of 0.45 and a total debt service ratio of 0.55, which are standards often used for conventional mortgages. If different ratios apply in your case, change the values in the table above.
Maximum Loan Amount Calculator
Total monthly payment allowed
$
Estimated monthly escrow payment
$
Homeowner's insurance, if applicable
$
Homeowner's dues and other fees, if any
$
Annual interest rate
%
Duration of loan (in years)
Monthly principal + interest payment
$

Maximum loan amount:

$0.00
*The result of these calculations is for ilustrative purposes only. For a real case scenarios, please contact us.
The table above calculates the amount of a loan you might qualify for with the monthly payment shown above. Depending on the circumstances, some or all of the following will be true:
  • In all cases, your monthly payment will include principal and interest payments.
  • In most cases, it will include a monthly escrow deposit to cover taxes and mortgage insurance, if any. In some cases, homeowner's insurance is also included in this calculation.
  • If you are buying a condominium or co-op unit, the monthly payment figure may also include your homeowner's dues and/or maintenance fees. You will need to estimate these monthly costs and type them into the appropriate cells below.
Important: This worksheet provides a rough estimate for conventional, fixed-term mortgages. Loan terms vary depending on type of mortgage and lender policies. Consult a professional lender for exact data.

Mortgage Calculators

Amortization Calculator This calculator estimates your monthly payment amount each month for the length of the loan.
DSCR Calculator This calculator helps you determine your Debt Service Coverage Ratio.
Mortgage Qualification Calculator This calculator helps you determine how much you can borrow based on your income, debts, and other financial information.

Ready to take the next step?

If you are ready, start your mortgage application now

Start Application