Wes Thompson
WES THOMPSON
"THE ONLY CALL YOU NEED TO MAKE" (231)-598-2379
Wes Thompson

How Much Can You Afford?


You might be wondering about a few things:

How much will your loan be? 
How much do you qualify for? 
Does it make more sense for you to rent or to buy? 

We’ve provided four calculators to help answer some of these questions for you.  
Please let me know if there’s anything else you need!

 
Required
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
0.43%of Cost
Annual Property Tax:  $  
1.2%of Cost
Monthly Income:  $
Monthly Debt:  $
Optional
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:  
 
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
Monthly Rent: $
  No. of Years you plan on keeping the home:
Annual Rental Increases:   %   Yearly Appreciation on the Home: %
Monthly Renter Insurance: $   Annual Home Maintenance: %
Savings or Investment Rate:   %  

Home  |   Listings  |  Home Search  |  Home Evaluation  |  Buying  |  Selling   |  Calculators  |  Contact Us  |  About Michigan

Privacy Policy  |  Site Map  |  Links  |  For Agents  |  Profile  |  Sign In

©2005-2012 RiverTown Real Estate