Financial Tool Box

 

Qualifying Ratios

How Much Income/Expenses to Qualify?


Variable Fields (Enter values) Calculated Fields

Sale Price of Home
Percent (%) or $ Amt. Down
Term of Loan (in Years)
Interest Rate (% of 100)

Dollar Amount Financed

Your Monthly Payment

Annual Loan Cost
Monthly Combined Gross Income
Monthly Auto Loan Payment
Other Recurring Payments
Other Debt

TOTAL Monthly Debt

RATIO OF HOUSING COST TO INCOME  % 
This value should be <= 28% for conventional loans, and <= 29% for HUD/FHA loans
RATIO OF (HOUSING COST + DEBT) TO INCOME  %
This value should be <= 36% for conventional loans, and <= 41% for HUD/FHA loans

MINIMUM MONTHLY INCOME NEEDED TO QUALIFY



 

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REALTOR e-PRO, NCP.
Cell: 979-739-4428
Office: 979-764-2100 Ext 131
Fax: 979-764-0421

Century 21  "Real Estate for Your World"
404 H University Dr. E
College Station, TX 77840

Council of Residential Finance Specialists - Designee

 
 

 

Equal housing opportunity.
"All information provided is deemed reliable but is not guaranteed and should be independently verified."


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