Calculators


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.


Have you thought about buying? Don't know where to start? 

The process is not as hard as one may think and you could be in your very own home in about 30 days from the date you pick your home! 

Scared of downpayment? Don't be most time you put down as little as $500 towards your home and get it back at closing to use towards your own closing cost! 

Interest rates are at an all time low right now and prices of rentals in this area are competitive with what a monthly mortgage payment would be. Why not invest in your own home and financial future, rather than throwing paying someone else's mortgage payment for them! 

Still not convinced, let's look at the numbers. 

When you want to move into a rental home, there is a security deposit plus the 1st months rent. If you have pets not only do you need to find a property willing to accept pets but you also pay a non-refundable pet fee. That fee varies from company to company and it can range from low as $150 and as high as $300 per pet!!!! When you move out, you MUST leave the house in the same or better condition than you received it in just to receive your deposit back. You need to have the carpets professionally cleaned and the fireplace professionally cleaned and don't think you are getting any pet fees returned to you either.... You can't make any changes to the house, for example painting your living room or bedrooms how about changing light fixtures.....Nope you can't do any of that while renting with out the owners approval and if they do approve they will not reimburse you for it. 

So basically it could cost more to rent a home than to own one!!! 

Still not convinced look at the numbers on a few prices here!! 

1. You are looking for a $900/month rental and you have 1 pet. You would need approx. $2050 to get the keys. 

For the same $900/month, you could purchase a home for $145,000 or less. No money down if you are VA eligible and if you negotiate the seller in paying most or all of your closing costs, you could get into this house for as little as $500 

2. You are looking for a $1000/month rental and you have 2 pets. You would need approx. $2500 to get the keys. 

For the same $1000/month, you could purchase a home for $170,000 or less. No money down if you are VA eligible and if you negotiate the seller in paying most or all of your closing costs, you could get into this house for as little as $500 

So, while renting a home is sometimes necessary, it is certainly worth while looking into purchasing a home. 

I would love to help you find a home to purchase or a home to rent. I can also offer you a free Home Inspection for that home if you do decided to buy and free representation as a buyer's agent. So still have questions why not give me a call or send me a email I love to talk with you. 

 

Complete the fields below (e.g., Cost of HomeDown PaymentMonthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
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: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %