How much can I borrow?

Monthly income
Wages before taxes or deductions
Investment income before taxes
Income from rental properties
Other income

Monthly Payments *
Auto loans
Student loans
Rental property loans ($0 if refinancing)
Other payments
* Include only loans that won't be paid off in 10 months

Other debts
Monthly alimony, child support or other
Monthly credit card payments

Loan terms you desire
Interest rate
Term (years)
Down payment (% of price)

Taxes & insurance you expect
Yearly property tax
Yearly property insurance
Debt ratio: Used by lenders to approve loan applicants. Debt ratio equals combined monthly debt payments divided by gross monthly income.
Conservative qualification estimate: When the economy is weak, mortgage lenders are more conservative and tend to raise their loan qualification requirements.
Housing ratio: Used by lenders to approve loan applicants. Housing ratio equals combined monthly mortgage payment divided by gross monthly income.
Private mortgage insurance (PMI): An insurance policy that protects lenders against loss if a borrower defaults. Typically required if the loan-to-value (LTV) ratio of the home exceeds 80%.
Aggressive qualification estimate: When the economy is strong, mortgage lenders are more aggressive and tend to lower their loan qualification requirements.
Underwriting: The process a mortgage lender undertakes to evaluate a loan prospect to see if they have the financial capacity to repay the loan.
Interest rate: The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of money.
Property insurance: Protects the homeowner from weather-related damage, as well as potential liability from events that occur on the property.
P+I: An acronym for the principal and interest that you pay on a mortgage loan.
P+I+T+I: An acronym for loan principal, interest, property taxes and homeowner's insurance.
Term: The period of a loan, generally measured in years. Auto loans generally range from 2 to 5 years. Mortgage loans: 15 to 30 years.
Property tax: A tax assessed on real estate by the local government, usually based on the value of the property (including the land) you own.
Down payment: The cash you deposit towards the purchase of home, car, etc. The larger the down payment, the less you are required to borrow.
Property Taxes and Homeowner's Insurance: A typical monthly mortgage payment consists of amounts for loan principal, interest, property taxes, and homeowner's insurance.