Mortgage Qualification Tool

This tool is an adaptation of Brian Weston's VM Mortgage Program.


Note, the required salary must meet the following two conditions:

  1. the monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  2. the monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.


Desired
Mortgage
Desired Mortgage for new home
Years of
Mortgage
Total Number of Years on Mortgage
Yearly
Mortgage Rate (%)
Interest Percentage of Mortgage
Yearly Property
Taxes
Property Taxes on your new Home
Other Debt.
Other Yearly Debt
(School, Car, ...)
Summary
Mortgage
Payments
Total
Payments
Required
Salary
If you have found this tool useful try the Mortgage Calculator Tool too.
DISCLAIMER
Calculations by this tool are beleived to be accurate but is not guaranteed by either IBM or me. Any redistribution of information found at this site is strictly prohibited.

For comments and questions:

Last updated December 4, 1995

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