Beaches of South Walton, DeFuniak Springs and Grayton Beach real estate and homes for sale in Florida - The Burgess Team, REALTORS®

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The Burgess Team, REALTORŽ, real estate agents and broker for Beaches of South Walton, DeFuniak Springs and Grayton Beach Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

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Mortgage Calculators: Beaches of South Walton, DeFuniak Springs and Grayton Beach Florida home buying, real estate listings, and homes for sale in Walton County, FL

Welcome > Resources > Mortgage Calculators > Your Income ...

The Best Mortgage Calculators On the Web!

Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it!

Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules.

The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more.

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you...

How Much Should Your Income Be?

What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.

This Financial Calculator requires a Browser with Java Support

Definitions

Desired mortgage amount

The total loan amount you are looking to qualify for.

Monthly housing expenses

Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.

Monthly liabilities

Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.

Monthly housing payment (PITI)

This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:

Monthly Income X 28% = monthly PITI
Monthly Income X 36% - Other loan payments = monthly PITI

Maximum principal and interest (PI)

This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.

Start interest rates at

The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.

Term in years

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

The Burgess Team, REALTORŽ, real estate agents and broker for Beaches of South Walton, DeFuniak Springs and Grayton Beach Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

The Burgess Team
The Burgess Team of NWF, INC.
1184 Circle Drive Suite A
DeFuniak Springs, FL 32435
Office: 850-892-3355
Tel: 850 585-0662
Cell: 850 585-0563
Fax: 850-892-3352
Email: Jimmy@swbeaches.com
Jimmy lives by the Zig Ziglar philosophy that if you help enough other people get what they want, you will get what you want. His focus, drive and motivation are to create clients for life. This can only be accomplished by assisting sellers in a transaction that sells their property at the highest possible price, with the least amount of issues in the least amount of time. If you are looking to buy or sell a home or to discuss Jimmys philosophy on Real Estate sales, he can be reached any time at 850-585-0563, his cell phone, 850-892-3355, office phone or 850-892-1033 his home phone.

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