The Real Estate Store LLC, REALTORS
Say HELLO to a Good Buy!

Mortgage Calculator


Choosing to purchase a new house is an exciting life decision that requires some initial considerations to ensure you find the perfect home.

Before browsing listings, reflect on the following questions: 

How large does the house have to be for my family to be comfortable?
How many rooms and bathrooms are required?
What size of yard will accommodate children and pets?
What are my current parking and transportation needs?

How important is having a house close to work, local amenities, public transportation? 
In which areas of the city would you like to live?   Are there areas that you want to avoid? 
Are you willing to purchase a home that is involved with a Home Owner’s Association? 
Are there special considerations required for hobbies, guests, potential additions to the family, physical limitations or disabilities?

The answers to these questions will help you not only determine the type of house that will be the best for you, but also save you time from viewing houses that don’t meet your personal criteria.  

To start your home search and find local listings in the area, contact me and we can review your criteria and find houses that meet your personal criteria.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0% of Cost
Annual Property Tax:  $  
Estimate Tax to 0% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
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:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %