Mortgage Loan Qualification Calculator

Mortgage Loan Qualification Calculator - Love a property but don't know if you can qualify for a mortgage to purchase it? Use this mortgage qualification calculator* to estimate the maximum amount of mortgage financing you qualify with up to three different mortgage loans simultaneously based on qualification guidelines. This qualification calculator provides you with your maximum mortgage qualification criteria based on your income, monthly debt and and available down payment. Note: your loan qualifications may be affected by your credit rating.

Mortgage Qualification Calculator Maximum Mortgage Prequalification Calculator Instructions

Step 1: Enter Sales Price of Property
Step 2: Enter Your Income
Step 3: Enter Your Monthly Liabilities
Step 4: Enter Your Cash Assets
Step 5: Select up to 3 different mortgage rates and programs and Click Button:
Step 6: "Calculate My Maximum Mortgage Qualification Amounts to Purchase a Property"

Maximum Mortgage Pre-Qualification Calculator ///

Step 1: Sales Price of Property
Sales Price $
Step 2: Income ///
Enter the total "Gross" monthly income for each borrower. "Gross" is before "taxes" are taken out. If more than two borrowers you can combine the income amounts into a single box.
Borrower Co-Borrower
Monthly Income
Step 3: Monthly Bills ///
Enter the total of the "Minimum" monthly payments as indicated on your statements for each type of liabilty indicated below. Do not include rent or utilities. Please be as accurate as possible as this will dramatically affect the amount of mortgage financing you will qualify for.
Auto Loan(s)
Credit Card(s)
Student Loan(s)
Personal Loan(s)
401 K / Retirement Account Loan(s)
Other Loan(s)
Other Legal Liabilities - these may or may not be reported on your credit report but must be used during loan qualifying.
Alimony / Palimony
Child Support
Liens / Judgement
Step 4: Funds Available ///
Enter the total amounts of money available. You may elect to use all or part of the monies indicated. If you are selling a home, you may enter your estimated "net" proceeds for the sale..
Checking / Savings
Selling a home? Net Proceeds from sale.
401K / Retirement Accounts
Step 5: Select Mortgage Interest Rates for Each Loan Program ///
Select the estimated current mortgage loan rate you will be able to obtain. (Note: if using an adjustable rate mortgage, you must qualify at the fully indexed rate, which will be approximately the same as a 30 year fixed in most cases).
Mortgage Amortization
Interest Rate


Loan Qualification Summary ///
Summary of the information you provided used for loan qualification purposes.
Total Income: Total Liabilities:
Funds Available: Income to Debt: %
Loan Qualifying Results with up to Three Different Mortgages Side by Side ///
View detailed results of your loan qualifications with the three mortgage programs you selected. Items in "RED" indicate a shortage amount in "cash to close".
Your Detailed Loan Qualification Results based on Selected Mortgage Loans ///
Review results of the three different types of mortgage terms and rates used for mortgage qualifying. Qualification calculator assumes maximum loan qualifications based on your income, liabilities and available funds to close. Note: in some cases you may qualify for a loan amount larger than the sales price which means you can purchase a more expensive property if desired. This is for informational purposes only and you should consult with one of our local mortgage professionals to get a formal loan pre-qualification.
Loan Programs
Mortgage Rate % % %
Sales Price
Maximum Loan Amount based on Your Income Qualifications
Min. Down Payment Req.
Loan to Value % % %
Mortgage Payment (P.I. only)
Property Taxes
Homeowners Insurance
Private Mortgage Insurance (PMI), if LTV over 80%
Mortgage Payment (P.I.T.I)
Front-End Ratio % % %
Back-End Ratio % % %
Total Funds Available
Min. Down Payment Required
Estimated Closing Costs
(Estimated at 3.125% total***)
Estimated Total Funds Required for Closing
Funds / Monies After Close
(Red = $ amount shortage)
Suggested Minimum Cash Reserves After Closing

View Current Mortgage Interest Rates as may rates will affect your Mortgage Qualification Amount. Re-calculate based on interest rates today for accurate mortgage qualifications results.

Property Tax and Homeowners Insurance Assumptions**
We have used a generic estimate for these calculation but you may refine the estimate by selecting approximate property tax and insurance rates in your area. Annually Monthly
Property Taxes based onper year.
Homeowners Insuranceper year.
Loan Qualifying Calculator Disclosure* - The information provided on or through this site is for purposes of general consumer education only and is not intended as a substitute for advice from a qualified professional, such as, but not limited to, a lawyer, mortgage broker, accountant, investment advisor, insurance broker, financial planner, real estate agent or home inspector. We can not and do not guarantee the accuracy or the applicability of this information to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance and real estate issues.

Estimate Monthly Taxes & Insurance** - This is an estimated amount of the property taxes, homeowners insurance and possible private mortgage insurance. This may vary from area to area. Property taxes estimated at 1.25% per year. Homeowners insurance estimated at .0035% per year and PMI estimated at following rates: 95.01-100% LTV = 1.03% , 90-95% LTV = .875%, 85-90% LTV = .625%, 80-85% LTV = .375%.

Estimated Closing Costs*** - This is an estimate of the closing costs associated with obtaining a mortgage loan. Includes points, loan origination fees, title, escrow / attorney and misc. other fee's typically associated with a loan in California. Fee's may be higher or lower dependant on your area and loan qualifications.

Continue reading here: Pay Option ARM / Pick a Payment Mortgage Calculator

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Readers' Questions

  • fre-qalsi abel
    How to use fincrafters mortgage loan qualification calculator?
    7 months ago
  • To use the Fincrafters mortgage loan qualification calculator, follow these steps:
    1. Go to the Fincrafters website and navigate to the mortgage loan qualification calculator.
    2. Enter the necessary information. You will typically be asked for the loan amount, interest rate, loan term, annual income, monthly debt payments, and credit score.
    3. Input the loan amount. This is the total amount of money you wish to borrow for your mortgage.
    4. Enter the interest rate. This is the annual interest rate you expect to pay on the loan.
    5. Input the loan term. This is the number of years you will be repaying the loan.
    6. Enter your annual income. This is the total amount of money you make in a year before taxes.
    7. Input your monthly debt payments. This includes any other monthly debts you have, such as car loans or credit card payments.
    8. Enter your credit score. This is a measure of your creditworthiness, typically ranging from 300 to 850.
    9. Click on the "Calculate" or "Calculate Loan Qualification" button to obtain the results.
    10. Review the results. The calculator will provide you with information on the maximum loan amount you qualify for based on the provided inputs. It may also display additional details such as the estimated monthly payment and your debt-to-income ratio.
    11. Adjust your inputs to see how different factors affect your loan qualification. For example, you can try entering a lower interest rate or a higher annual income to see how it impacts your eligibility for a mortgage loan.
    12. By going through these steps, you can effectively utilize the Fincrafters mortgage loan qualification calculator to help determine your eligibility for a mortgage loan.
    • Mantissa
      How to calculate mortgage qualification?
      1 year ago
    • To calculate mortgage qualification, you will need to know your current income, debts, and credit score. Then you will need to compare this information against the loan amounts you are considering, the interest rate for the loan and the length of the loan. First, calculate your debt-to-income ratio by dividing your total monthly debt payments by your gross monthly income. Debt payments include items such as credit card payments, car loans, and student loans. Your debt-to-income ratio should ideally be 36 percent or less. If your ratio is higher than that, you may not qualify for the loan amount you’re considering. Next, compare the loan amount you are considering with your income and debts. Most lenders prefer that your total mortgage payment not exceed 28 percent of your gross monthly income. Finally, check your credit score. A score of 680 or higher is generally considered good, while a score above 720 is considered excellent. The higher your score, the better your chances of qualifying for a mortgage.