I&E Homes | Home Financing | What Can You Afford?

What Can You Afford?
Please follow the instructions below:

STEP 1: Enter your information into the following fields. Do not use commas or $ signs.
Desired Mortgage
for new home
Total Number of Years
on Mortgage
Interest Percentage
of Mortgage
Property Taxes
on your new Home
Total Monthly Payments
in Non-Mortgage Debt		 (i.e. car, student loans, credit cards, etc)
STEP 2: Press the CALCULATE button. Do not enter anything in the next three fields.
 
Pricipal & Interest
Total Housing Payment (tax & insurance included)
Required Salary

Your salary must meet the following two conditions:

  1. Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.

DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification."

If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.