If you have no idea about whether you can afford a new home or not, then use this calculator first. Its a quick and dirty way to determine your total financial circumstances and outlook. Both your mortgage company and your lender will use these mortgage ratios to determine both your income and your debt. This calculator calculates three ratios called the Housing Ratio , the Loan-to-Value (LTV) Ratio , and the Debt Ratio .


First, enter the number of payments you expect to make. A 15 year mortgage is (15 x 12) or 180 payments, conversely a 30 year mortgage is (30 x12) or 360 payments. Enter an interest rate. You can enter the interest rate as a percentage or as a decimal. Enter the purchase price of the home. Enter the amount you plan to borrow, also called the principal or the amount of the mortgage. All the rest of figures are MONTHLY amounts. Enter your Gross monthly income, real estate taxes, homeowners insurance, mortgage insurance, and any condominium or association dues. Finally, enter your monthly car payments, alimony or child support payments, credit card payments, and any other loan payments you make. Press the compute button and the numbers will be calculated and displayed in the table below the buttons. This is a JavaScript based calculator.

Mortgage Qualification

Your Values
Number of Payments
Interest Rate
Find Rates
Purchase Price
Amount of Mortgage
GROSS Monthly Income
Real Estate Taxes (1 month)
Homeowner's Insurance (1 month)
Mortgage Insurance
Association Dues
Car Payments
Alimony/Child Support
Credit Card Payments
Other Loan Payments


Monthly Payment $
Monthly Housing Expense $
Monthly Bills $
LTV-Ratio %
Housing Ratio %
Debt to Income Ratio %

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Type of Loan

Mortgage Refinance
Home Equity Loan or Line
Debt Consolidation
New Home Loan

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Historical Federal Funds Rate

30-Year Fixed Rate -

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15-Year Fixed Rate -

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*National Rates