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Affordability Calculator

A mortgage company uses ratios to analyze your mortgage payment. The housing payment ratio (or Front Ratio) compares your total mortgage payment to your monthly income. The total debt expense (or Back Ratio) compares your total monthly obligations including your total mortgage payment to your monthly income. These ratios are meant to be used as guides. Please contact a mortgage professional for a complete prequalification analysis.

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These calculations are only estimates and should not be used to determine actual loan costs. 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.

In addition to the information you entered, this calculator uses estimated of other amounts (such as monthly taxes and insurance) that may apply to your loan. Therefore, the results displayed above are only estimates and cannot be used to determine actual loan costs. 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.

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