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How much income do I need to qualify ?
Loan Information

Down Payment ($)
Interest Rate (%)
Length of Loan (Yrs)
Front Ratio (%)
Back Ratio (%)
Property Information

Home Value ($)

Taxes & Insurance

Annual Taxes ($)
Annual Hazard Insurance ($)

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Results
Property Selling Price: $190,000.00
Down Payment: $40,000.00
Loan Amount: $150,000.00
Monthly Principal & Interest: $851.68
Monthly Real Estate Taxes: $174.17
Monthly Hazard Insurance: $82.33
Monthly PMI: $0.00
Total Mortgage Payment: $851.68
Income Needed for Payment: $2,838.95
Allowable Debt Payments: $170.34

Explanation
Mortgage lenders use ratios to analyze your mortgage payment and determine how much loan you qualify for. The front ratio used in this calculation is 30.00%, or (851.68 / 2,838.95). This ratio compares your total mortgage payment to your monthly income.

The back ratio is 36.00%, or [(851.68 + 170.34) / 2,838.95]. This ratio compares your total monthly debt obligations including your total mortgage payment to your monthly income.

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.
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