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The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... What's Your Maximum Mortgage?
What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.
Definitions
- Monthly income
- Total monthly income from all sources. All income should be entered before taxes.
- Monthly housing expenses
- Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.
- Monthly liabilities
- Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.
- Monthly housing payment (PITI)
- This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:
- Monthly Income X 28% = monthly PITI
- Monthly Income X 36% - Other loan payments = monthly PITI
- Maximum principal and interest (PI)
- This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.
- Start interest rates at
- The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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To take much of the guesswork out of your consideration about whether a particular property is a good investment, you can check on the actual selling price of similar homes in the neighborhood.
Some sales information, such as the selling price, the financing terms, and the transaction dates, is public information. Your real estate agent will have record of all recent sales. You can find out how properties have been appreciating, based on actual sales, rather than from the neighbors (they could be wrong!). Driving by comparable homes can give you an idea about how they compare with the property you are considering. Your real estate agent may have seen these homes and can give you additional information to help you make a decision.
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Julie Kaszyca
Cutler Real Estate
4618 Dressler Road NW
Canton, OH 44718
330-491-2765
Fax: 330-492-1831
JulieKaszyca@NUMBER1EXPERT.COM
Julie Kaszyca & Associates is one of Stark County's leading full service Real Estate teams. With over 25 years of experience and proven results, our job is to work with you in the purchase or sale of your home. If you are considering buying or selling a home in the Stark County area - Canton, Canal Fulton, Jackson Township, Massillon, North Canton, Plain Township, Perry Township and more, call the Kaszyca Team at Cutler Real Estate and let us provide the service you deserve!   
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