Instructions

Enter the total pre-tax monthly income of all borrowers. Enter the total monthly obligations of all borrowers. Include minimum monthly payments of all accounts that will not be paid off in less than 10 months to calculate your monthly obligations. Enter expected mortgage rate and term and amount available for your down payment.

Monthly Income
 Applicant
 Co-Applicant
 Other

Down Payment
3 % 5 % 10 %
15 % 20 %
Other: %

Monthly Payments
 Auto Loans
 Student Loans
 Installment Loans
 Revolving Accts
 Other Debts

Mortgage Information
  Interest Rate
 Term in Years
 Est. Front Ratio
 Est. Back Ratio

Results

Principal and Interest:
Monthly Taxes:
Monthly Hazard Insurance:
Total Mortgage Payment:
Monthly Income:
Monthly Obligations:
Actual Front Ratio:
Actual Back Ratio:
Home Value:
Down Payment:
Loan Amount:
Loan To Value Ratio:

Explanation
A mortgage company uses ratios to analyze your mortgage payment. The housing payment ratio (or Front Ratio) compares your total mortgage payment to your monthly income. The total debt expense (or Back Ratio) compares your total monthly obligations including your total mortgage payment to your monthly income. These ratios are meant to be used as guides. Please contact a mortgage professional for a complete pre qualification analysis.