Mortgage Loan Simulator

Complete all the variables below and click Calculate Now. Click on the tabs to view the different results of your calculation.

To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
	Required Must be a number between 1 and 50
Term In Years:
	Required Must be a number between 1 and 100
Interest Rate:	%
	Required
Cost of Home:	$
	Required Cannot be more than Cost of Home
Down Payment:	$
	Required
Annual Insurance:	$
	Estimate Insurance to 0.43%of Cost
	Required
Annual Property Tax:	$
	Estimate Tax to 1.2% of Cost
	Required
Monthly Income:	$
	Required
Monthly Debt:	$
Optional Fields
Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Renting
Monthly Rent: $	RequiredMust be a positive number
Annual Rental Increases:	RequiredInvalid%
Monthly Renter Insurance: $	RequiredInvalid
Savings or Investment Rate:	RequiredInvalid%

Owning
Planned # of years in home:	RequiredInvalid
Yearly appreciation of the home:	RequiredInvalid%
Annual home maintenance:	RequiredInvalid%

Which Loan Is Best For You?