Northern Virginia, DC & Maryland Real Estate

The following will help you to see if you will qualify for the loan you want. If you choose to put down 20% or more, your PMI will be '0'. If you are buying with a FHA loan, with as little as 3.5% down, use 1.25% as the PMI, and with loans $625K or higher, PMI is 1.6%. If you are buying with a VA loan, use '0' in PMI as the 'funding fee' is collected up front. If you have a 10% or more disability there is no funding fee charged. Please note that each lender may have easier or slightly stricter loan standards.

Mortgage Qualification Calculator
Purchase Information Inputs Outputs
Purchase price  
Down payment
Loan amount  
Interest rate  
Years of mortgage  
Pay Information Inputs Outputs (Monthly)
Monthly P & I pay  
Annual
- property taxes
- Insurance
- PMI
Monthly HOA  
Monthly payment (PITI)  
Tax deductable portiion of payment  
Qualifying Information Inputs Outputs
Gross income:  
Monthly debt payments  
Qualify for loan?  
Max qualifying loan  
Income to pay ratio (max=45%)  
Debt to income ratio (max=50%)  

Longer term loans may take a few moments for the report to be generated.
Mortgage Qualification Calculator V2, Copyright © 2001 - 2011, Daniel C. Peterson, All Rights Reserved.
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