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How Much Can You Afford?

Use the mortgage calculator below to determine how much you can afford.  Securing financing is one of the most important parts in the process of purchasing a home.  Finding out ahead of time, exactly what you can afford, makes you a stronger buyer and gives you an advantage over buyers who have not taken this step. 

There are many loan programs available now to help you become a homeowner. 

Lenders   

First Federal Savings - Lindsay.Englefield@firstfedohio.com

Fiberglas Federal Credit Union

Hopewell Federal Credit Union

Park National Bank 

 
 
Required
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
0.43%of Cost
Annual Property Tax:  $  
1.2%of Cost
Monthly Income:  $
Monthly Debt:  $
Optional
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:  
 
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
Monthly Rent: $
   No. of Years you plan on keeping the home:
Annual Rental Increases:   %   Yearly Appreciation on the Home: %
Monthly Renter Insurance: $   Annual Home Maintenance: %
Savings or Investment Rate:   %  

 Re/Max Consultant Group
The Green Home Connection


Judith Green
REALTOR®

Tracie Cope
REALTOR®

Jackie Lewis
REALTOR®


 Licensed REALTORs® - State of Ohio

Your source for Licking County MLS, Property Search, Home, Homes For Sale, Real Estate Listings, Newark, Granville, Heath, Thornville, Farm, Farms, Ohio, Buckeye Lake, Real Estate, MLS, Multiple Listing Service, Granville, OH, Licking County Real Estate, Licking County Property Search, Licking County Homes For Sale

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