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Mike Del Vecchio


How Much Can You Afford?


How much can you afford?

Financing options can be confusing, and you may want to get advice from qualified lenders. I’d be happy to refer you to sources authorized to lend in Texas if you do not have one, or if you’d just like a second opinion.

The calculator below will help you determine what you can afford. Please note that this is an initial step only and should never be a substitute for an experienced lender’s advice. What you can afford may be very different from what you’re willing to pay. I’d be happy to send you a special article on points to consider to help determine the latter number.

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.

 
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


Mortgage   Qualification   Affordability   Rent vs Buy    

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:    
 



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