Welcome > Resources > Mortgage Calculators > Your Income ...

How Much Should Your Income Be?

What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.

Definitions

Desired mortgage amount

The total loan amount you are looking to qualify for.

Monthly housing expenses

Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.

Monthly liabilities

Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.

Monthly housing payment (PITI)

This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:

1. Monthly Income X 28% = monthly PITI
2. Monthly Income X 36% - Other loan payments = monthly PITI

Maximum principal and interest (PI)

This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.

Start interest rates at

The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.

Term in years

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation Pennsylvania Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Yardley, Newtown, Upper Makefield and Lower Makefield

Curb Appeal >Trees Improve Energy Efficiency Mature trees add "curb appeal" to a property and can make a home more energy efficient. Planted at the edges of a building, a tree's broad canopy of leaves softens the hard lines of architecture and offers shade. Trees absorb light reflected from the roof and decrease the air temperature surrounding your home through evaporation of moisture. The positioning of trees and shrubs around your home has a significant effect on how much you'll be paying to heat and cool your house each month. According to the U.S. Department of Energy, even one strategically placed tree can reduce your heating and cooling bill up to 25 percent. In general, deciduous trees planted on the south and west sides of the house keep the home cool during the summer and allow low-angle sun into the home during the winter. If you live on a windy hill or coastal bluff, planting evergreen trees or shrubs on the north and west sides of your structure will help protect your home from winter gusts and storms. Consult your landscape designer for advice about your particular property. See All Tips In The "Curb Appeal" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Due to low business and living expenses, what areas are considered to be the fastest growing in the country? A  According to recent studies, the Southern and Western regions of the U.S. are among the nation's strongest economies. See More Real Estate Trivia >

Jane Johnson Prudential Fox & Roach Realtors 1010 Stony Hill Road Yardley, PA. 19067 Preferred number: (215) 630-1467 Direct Office Line: (215) 504-7557 Fax: (215) 504-1794 Office: (215) 504-7500 Email: janejohnson@NUMBER1EXPERT.com Working hard to help homebuyers and homesellers realize their dream is my goal. Loving my job is KEY to providing the top-notch service you expect, and the highest net profit YOU DESERVE! Your real estate transaction represents your most valued financial asset. Why not let my Value Creation Specialist skills work towards your home buying and selling needs? Prudential also leads the industry in advertising and marketing with more print, photo, and Internet advertising than any other agency. At PaHomeCatcher.com, featured listings are promoted on a network of the most visited home search web sites such as NUMBER1EXPERT.com ,123Movers.com, RealEstateABC.com and many more. I also have an "Enhanced Listing Feature" option through Realtor.com so that my listings are guaranteed to get unlimited description space, additional photos, and scrolling text headlines! Being an Accredited Home Staging Realtor also provides you with a valuable service. Staged homes help homeowners prepare their homes for sale to realize the highest price in the shortest amount of time possible! Did you know that homes that are professionally staged get 7 to 10% more than asking price with an average listing period of 10 to 14 days? As a Luxury Home Specialist, I provide an excellent array of Fine Home Marketing options as well as knowing the Luxury Home market in Bucks County. Fine Homes will continually be featured on PaHomeCatcher for the Luxury Home buyer. So be it a historical home, a waterfront property, a town home, a rancher, a classic colonial, a contemporary, or an investment property, get EXCEPTIONAL services in Beautiful Bucks County to catch your next purchase or sale! Click here for more Luxury Home information. Click here to learn more about Home Staging TREND copyright notification: 2008 TREND All Rights Reserved TREND is the source of the Broker Reciprocity content on all web pages displaying property information Broker Reciprocity allows participants who hold a current, valid real estate broker’s license to advertise their own and other participants aggregated active listing information through downloading and placing contend on the participant’s public access website. Property information being provided on or through this website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some of the properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or no longer being offered for sale. Property information displayed on website is deemed reliable but is not guaranteed. The data relating to real estate for sale on this website appears in part through the TREND Broker Reciprocity(SM) program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Realty Professionals of America participates, and is provided by TREND through a licensing agreement. This site is monitored for scraping. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are under contract, sold or are no longer being offered for sale. Information is deemed reliable but not guaranteed. www.PAHomeCatcher.com is brought to you by Jane Johnson NUMBER1EXPERT™ in real estate for Yardley, Newtown, Upper Makefield and Lower Makefield, Pennsylvania Read Jane Johnson's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.