How Much Can I Afford

Truckee Tahoe Sacramento San Francisco Bay Area Mortgage Home Loan

Friday, September 22, 2023
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Desmond Elder Mortgage Advisor CA Bureau of Real Estate #01350508 NMLS# 29360 Supervising Broker Pacific Bay Lending CA Bureau of Real Estate #01874818 NMLS #318011 711 Grand Avenue, Suite 265 San Rafael, CA 94901 530.582.4238 Desmond@PacBayLend.com www.NMLSconsumeraccess.org Desmond Elder Mortgage Advisor CA Bureau of Real Estate #01350508 NMLS# 29360 Supervising Broker Pacific Bay Lending CA Bureau of Real Estate #01874818 NMLS #318011 711 Grand Avenue, Suite 265 San Rafael, CA 94901 530.582.4238 Desmond@PacBayLend.com www.NMLSconsumeraccess.org

How much can I afford?

Use our calculator to find out how much house is in your budget by entering a few numbers below (income, debt & other factors). Our calculator requires you to enter affordability ratios used to determine qualification for mortgage approvals. The housing payment ratio (or front ratio) compares your total mortgage payment to your monthly income and your total debt ratio (or back ratio) compares your total monthly obligations including your mortgage payment to your monthly income. Monthly Revolving Account debt refers to monthly credit card and store card payments. For any monthly debt amount that is not applicable, please enter a zero.

Income Information

Gross Monthly Income

Other Monthly Income

3	5	10	20

Down Payment (%)

Other Down Payment (%)

Debt Information

Monthly Auto Loans

Monthly Student Loans

Monthly Installment Loans

Monthly Revolving Accounts

Monthly Other Debts

Loan Information

Zip Code

Interest Rate

Loan Term (Years)

Front Ratio (%)

Back Ratio (%)

Property Information

Monthly Property Taxes

Monthly Hazard Insurance

Monthly Mortgage Insurance

Monthly Homeowners Assoc Dues

The results displayed above are only estimates and cannot be used to determine actual loan costs or be used as a guarantee. Please consult your tax advisor for information on the deductibility of interest for tax purposes. 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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