| Mortgage Amount For Your New Home |
|
|
Term Of Mortgage In Years (15, 30 40, etc.) |
|
| Annual Real Estate taxes (est. x .02) |
|
| Total For Other Monthly Payments (i.e. car loan, credit cards, etc). |
|
| Monthly Principal + Interest Payment |
|
| Total Mortgage And Escrow Payment (tax & insurance incl.) |
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| Annual Income Required To Purchase |
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Your income may have to meet the
following:
- Your gross pre-tax monthly income
should be greater than 28-30% of the sum of the monthly mortgage and
monthly tax payments.
- Your gross pre-tax monthly income
should be greater than 35-40% of the sum of the monthly mortgage,
monthly tax and other monthly debt payments depending on the mortgage amount.
DISCLAIMER: Information contained on this site is for educational purposes only. Seek a competent professional morgage broker or online mortgage company for guidance before undertaking any debt.. |