Qualifications Calculator

How Much Can I Borrow?

This is a question asked frequently by potential borrowers.

There are many variables that can affect the amount a client can borrow. Use the calculator below to get an estimate of what you can borrow based on your current income and debt.

Gross Income: Your base income not including any overtime or bonuses that you receive. If you are self employed or commissioned use an average of your past 24 months.

Monthly Debt: This would be a total of your monthly payments not including your new or existing house payment or rent. These payments should include car payments, credit cards, personal loans, student loans, and child support. Do not include car insurance, utility payments or other living expenses in your monthly debt total.

Income Qualification Calculator

Instructions:

Fill in all fields above the "Submit" button and then click on that button when you have finished.

Enter only numerical data and decimal points. Do not use dollar signs, percent signs, commas or other non-numerical symbols. For example, "ten thousand" should be entered as 10000 or 10000.00 but not 10,000 or 10,000.00 or $10,000.

Enter monthly amounts for all income and expense items. For example, if your gross annual salary is $48,000, enter your "Salary/Wages" as 4000.

Enter the loan term in years.

Enter the interest rate as the following examples show: 8, not .08 or 8%; 7.5, not .075 or 7.5%.

Disclaimer: Our income qualification calculator is presented strictly for illustrative purposes. All results disclosed by the calculator are estimates, and HomeTimeUSA.com assumes no liability or responsibility for computational errors. Under FNMA underwriting guidelines some types of income are excluded in calculating qualification ratios. HomeTimeUSA.com makes no guarantee or representation that you will qualify for any particular loan or loan terms.