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How Much Can You Afford?


 
These  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.

IMPORTANT, there are so many different types of mortgages, special programs and ways to finance any transaction.  I continually study to find the best financing for each transaction, let me help you.  Call me or email me today!

Before you get your mind set on what the news or your friends say, let me and the experts tell the the real story.  Many programs out there for every income group. 

And when using this calculator, "remember" El Paso Proeprty Taxes are 3% and then of course there are exemptions for homestead, age, disabilitiesl that make it quite nice.   Use the 3% and you will be delighted when if comes out better.

 

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
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:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

 

Cynthia Morris, BROKER-OWNER

CRS, ePRO, GRI, Texas Property Tax Arbitrator

"I want to be the only REALTOR ® you will ever need.

EPHomeSearch Real Estate Services LLC

PO Box 961089 ~  El Paso  TX   79996

 

 

915 471 4300

toll free 888 915 1230

 All information is deemed to be correct but not guaranteed.

REAL ESTATE INTERNET WARNING: Despite advertising claims to the contrary, the Internet is not an experienced Real Estate Professional. It cannot consult, counsel, advise, have knowledge of local laws and market conditions, make judgements, 'own' the result, or most importantly, understand your individual goals and needs and care about you as a Client. To obtain an accurate interpretation of any information  you obtain online, please contact me. "I CAN HELP YOU"

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