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Mortgage Calculator Qualifying Ratios Owning vs Renting Annual Ownership Costs

Sale Price of Home Dollar Amt Financed
Percent (%) or $ Amt. Down Monthly Payment
Term of Loan (in Years) Annual Loan Cost
Interest Rate (% of 100)
Combined Hshld Mthly Gross Income Other Debt
Monthly Auto Loan Payment TOTAL Monthly Debt
Other Recurring Payments


RATIO OF HOUSING COST TO INCOME
This value should be <= 28% for conventional loans, and <= 29% for HUD/FHA loans
%
 
RATIO OF (HOUSING COST + DEBT) TO INCOME
This value should be <= 36% for conventional loans, and <= 41% for HUD/FHA loans
%
 
MINIMUM MONTHLY INCOME NEEDED TO QUALIFY