Mortgage Pre-Approval Calculator

Lenders size a mortgage with two ratios at once: the housing payment against gross monthly income, and that payment plus all other debt against the same income. Pick a loan program and this tool applies both caps, reports the loan the binding one allows and names which ratio is holding you back. A second tab takes a loan you already have in mind and says whether it clears both ratios, and how much more income or less debt it would take. It is a ratio test on documented income, not a pre-approval, so credit, reserves, employment and the appraisal still apply.

Calculator Type
Before tax, and only income a lender can document.
Card minimums, car and student loans, child support and alimony.
The first figure is the housing ratio, the second the total debt ratio.
Underwriting counts these inside the housing ratio.
FHA MIP, or PMI on a conventional loan under 20 percent down.
Used only to turn the loan amount into a purchase price.
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Before tax, and only income a lender can document.
Card minimums, car and student loans, child support and alimony.
The first figure is the housing ratio, the second the total debt ratio.
Underwriting counts these inside the housing ratio.
FHA MIP, or PMI on a conventional loan under 20 percent down.
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