MN Online MLS                 Mortgage Qualification Calculator    

 
Determine the maximum loan amount and maximum home price you qualify for.
   
                         
    Income Annual Income Monthly Income              
  Salary or wages              
  Other salary or wages   First Qualifying Number    
  Rental income            
  Investment income     =    
  Additional income     /12 =    
  Total Income              
              Second Qualifying Number    
    Long-Term Debts Monthly Debt Annual Debt            
  Car loan payments     =    
  Credit card payments     /12 =    
  Other loan payment            
  Other loan payment              
  Total Debts              
      Hou sing cost ratio    
Loan Amount
The table below calculates the amount of a loan you might qualify for with the monthly payment shown above. Depending on the circumstances, some or all of the following will be true:
• In all cases, your monthly payment will include principal and interest payments.
• In most cases, it will include a monthly escrow deposit to cover taxes and mortgage insurance, if any. In some cases, homeowner's insurance is also included in this calculation.
• If you are buying a condominium or co-op unit, the monthly payment figure may also include your homeowner's dues and/or maintenance fees. You will need to estimate these monthly costs and type them into the appropriate cells below.
                         
                         
        Total monthly payment allowed    

Important: This worksheet provides a rough estimate for conventional, fixed-term mortgages. Loan terms vary depending on type of mortgage and lender policies. Consult a professional lender for exact data .

Call Ken Horst at 952-548-3707

Estimated monthly property taxes    
Homeowner's insurance, if applicable    
Homeowner's dues and other fees, if any    
Annual interest rate (e.g., 7.125)    
Duration of loan (in years)    
Monthly principal + interest payment    
                 
        Maximum loan amount & home price at 0% down payment    
                         
                         
        Maximum home price with 5% down payment    
        Maximum home price with 10% down payment    
        Maximum home price with 20% down payment    

Automatic recalculation                          To get pre-approved for this loan amount Click Here