Solutions - HoustonWEB.us - KoolWeb.us - WebCrafters.us
Each mortgage company may have different criteria
for granting you a mortgage loan. Many factors come into play, including assets
(stock, trust fund income, child support, alimony, property, dividend income,
interest income), salary and wages, and of course, total debt.
It is not possible to write a mortgage qualification tool for generic use by
all borrowers and lenders, so use this only to do a 'rough' cut.
Your monthly payment will be higher than the amount needed to repay the loan,
because of property insurance and taxes, homeowners' association dues, and other
No warranty of applicability to your situation is made here, and this utility
is provided "as is."
Please let us know if there is something we can do to make this handy utility
more useful to you !!
Your Input Counts With Louis Hemmi !
Note well, the required income (salary and other
income) must meet two criteria:
- House payment should be less than 28% of total monthly income
- Monthly Obligations should be less than 35% of total monthly income
Comments and Inquiries:
Last updated March 24, 2003