THIS IS STEP ONE OF THE HOME BUYING PROCESS.

NOW THAT YOU HAVE DOWNLOADED THE DOCUMENTS FROM THE PREVIOUS STEP AND HAVE AN IDEA OF WHAT TO EXPECT.....

PLAY WITH THE CALCULATOR BELOW TO GET AN IDEA OF HOW THE #S WORK THEN CALL ANY LENDER OF YOUR CHOICE TO GET PREQUALIFIED. SOME SUGGESTIONS HAVE BEEN PROVIDED AT THE BOTTOM OF THE PREVIOUS PAGE.

THE PREQUALIFICATION IS A REQUIREMENT WHEN SUBMITTING AN OFFER ON A HOME YOU WILL FIND IN STEP 3, UNLESS YOU ARE PAYING ALL CASH.

YOU NEED TO KNOW IF YOU CAN AFFORD A HOME BEFORE YOU WASTE YOUR TIME AND GAS LOOKING AT HOMES THAT MAY NOT MEET YOUR FINANCIAL REQUIREMENTS OR PERHAPS YOU WILL FALL IN LOVE WITH SOMETHING YOU CAN NOT AFFORD.

WHILE YOU ARE WAITING FOR YOUR PREQUALIFICATION, MOVE ON TO STEP 2 TO START RESEARCHING YOUR PREFERRED COMMUNITY.

STEP TWO

STEP THREE

While you are waiting for your prqualificaion from your lender, Click the Icon below to search school grades, crime statistics, housing trends and other demographic information on your dream neighborhood.

CLICK HERE NEXT

IF YOU HAVE NOT BEEN PREQUALIFIED, WE DO NOT SUGGEST YOU TEASE YOURSELF LOOKING FOR A HOME. BUT.... IF YOU JUST CAN'T RESIST, CLICK ON THE ICON BELOW TO START LOOKIG AROUND AT HOMES ON THE MARKET.

Calculators

Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required

Required Must be a number between 1 and 50
Term In Years:
Required Must be a number between 1 and 100
Interest Rate:	%
Required
Cost of Home:	$
Required Cannot be more than Cost of Home
Down Payment:	$
Required
Annual Insurance:	$
Estimate Insurance to 0.43%of Cost
Required
Annual Property Tax:	$
Estimate Tax to 1.2%of Cost
Monthly Income:	$ Required
Monthly Debt:	$ Required

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage
Qualification
Affordability
Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance ( %):
Total Loan(Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Monthly Rent:	$ RequiredMust be a positive number	No. of Years you plan on keeping the home:	RequiredInvalid
Annual Rental Increases:	% RequiredInvalid	Yearly Appreciation on the Home:	% RequiredInvalid
Monthly Renter Insurance:	$ RequiredInvalid	Annual Home Maintenance:	% RequiredInvalid
Savings or Investment Rate:	% RequiredInvalid