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Real Estate - Homes - NUMBER1EXPERTS Sell More!
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Mortgage Calculators
Welcome > Resources > Mortgage Calculators > Your Income ...

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 - right before your eyes - 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... 

How Much Should Your Income Be?

What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.

This Financial Calculator requires a Browser with Java Support



Definitions

Desired mortgage amount
The total loan amount you are looking to qualify for.

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:

  1. Monthly Income X 28% = monthly PITI
  2. 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.



School Reports in Lynchburg, Forest and Bedford County, Virginia
"A model of how the Internet can facilitate the process of deciding where to send your children to school"
- America's Best School Profiles by
The Heritage Foundation

Virginia Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.
  Schools in Lynchburg, Forest and Bedford County 



Real Estate Tips
Financing Your Home >Shopping for the Best

The most important thing to look for when you are shopping for a mortgage is the interest rate, right? Not necessarily. There are many other factors to consider, including the lender's charges for making the loan, the terms under which the loan will be approved, and the lender's reputation for timely completion of loan applications to meet purchase agreement deadlines.

When real estate agents are involved in sales transactions, they don't tell buyers which mortgage companies to use. They can provide the names of established lenders who have provided good service to their customers. They can give general information about the different mortgage options that are available today. Using a low interest rate as the main criteria for choosing a mortgage could cost you money--and perhaps the home you want--if the company cannot deliver on its promises.

See All Tips In The "Financing Your Home" Category >
See Complete Library Of Hundreds Of Tips In 30+ Categories >

Real Estate Trivia
Q 
Where is the world's longest spiral staircase?

A 
The White County Coal Mine in Carmi, Illinois has a spiral staircase that measures 1,103 feet and has 1,520 steps.
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Dee, Cowles and Pam, REALTOR®, real estate agents and broker for Lynchburg, Forest and Bedford County, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Dee, Cowles and Pam
Your Lynchburg Real Estate Team

Coldwell Banker Forehand
2508 Langhorne Road
Lynchburg, VA. 24501
Toll Free: 800-317-5903
Dee and Cowles: 434-841-8757
Pam: 434-665-1740
Fax: 1-866-526-2540
Dee: Dee@deemeredith.com
Cowles: Cowles@cowlesmeredith.com
Pam: Pam@pamschoenleber.com

As America's NUMBER1EXPERTS [TM] in the Lynchburg area, Dee, Cowles and Pam - Your Lynchburg Real Estate Team's business philosophy is based on uncompromising integrity. They are committed to doing things the right way and are well equipped to guide you through all of your real estate needs - whether buying or selling. Make your move with Dee, Cowles and Pam - Your Lynchburg Real Estate Team. Call or email them today!

http://www.lynchburg-homes.com is brought to you by Dee and Cowles Meredith and Pam Schoenleber America's #1 real estate agents for the Lynchburg area including the city of Lynchburg, Forest, Goode, Bedford County, Campbell County, Amherst County, Appomattox County and Nelson County.

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