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How Much Can You Afford?
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Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.
Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link. |
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
%): |
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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Reid Mitchell
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Reid Mitchell
Mortgage Banker
Cell: 817-957-2783
email: reidm@colonialsavings.com
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Information Needed At Your Application
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Information Needed At Your Application
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1. |
Address & Employment history for last two years. |
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2. |
W-2 (2 years) & Current Months’ Pay stubs. |
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Full tax returns if self employed or receive commissions and/or bonuses in excess of 25% of local income (contact loan officer). |
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Contract of Sale and legal description. |
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Open Loans: addresses, account #’s, balance, and monthly payment. |
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Bank statements (all pages) for all accounts for last two months including checking, savings, investment and 401K accounts. |
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Real estate owned loan #, addresses, balance, and monthly payment. |
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Divorce decree if paying and/or receiving alimony or child support (contact loan officer). |
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Bankruptcy and discharge papers if applicable. |
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VA loans only: DD214 & Certificate of Eligibility. |
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11. |
Check for appraisal & credit report (contact loan officer). |
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Monthly Payment Per $1,000 |
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Yrs. |
5% |
5½% |
6% |
6½% |
7% |
7½% |
8% |
8½% |
9% |
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30 |
5.37 |
5.68 |
6.00 |
6.32 |
6.65 |
6.99 |
7.34 |
7.69 |
8.05 |
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