INSTRUCTIONS This estimator will calculate the household income required to qualify for a mortgage under a specific set of circumstances. You provide the amount financed, the number of years to finance, the interest rate, property taxes, and your current debt load, and the estimator will return the monthly mortgage payment, your total monthly debt payments, and the annual household income that most lenders would require to approve the mortgage loan. The calculations in this estimator are based on current requirements for a fixed rate conventional loan with a 5% down payment. Mortgage Ratio : monthly household income must be greater than 28% of the sum of the monthly mortgage payments and monthly tax payments. Debt Ratio : monthly household income must be greater than 36% of the sum of the mortgage, tax and other debt payments. This estimator is believed to be accurate but is only intended to generate approximate results. Rates vary or may change and exceptions are made by lenders in specific instances. Note on Privacy : This estimator is written in Javascript. All calculations are performed locally by your computer's processor. No part of the results of this page are transmitted beyond your computer. Enter numbers only. Do not enter "$", "," or "%" characters. (Example: For a $100,000 home, enter 100000) JavaScript Calculator by AccessDB@gorge.net