The maximum payment shown would include principal and interest to repay the loan plus monthly costs for taxes and homeowners insurance. It may also include private mortgage insurance if the LTV (Loan Amount divided by Purchase Price) on your first mortgage is greater than 80%.

Do you want to borrow more?

First a quick overview of debt ratios.  Traditional underwriting methods call for a borrower to have no more that 38% of their GROSS income going toward the servicing of consumer debt AND mortgage debt. This is the percentage that our calculator uses. It is entirely possible that with good credit (typically with mid 700 scores that your ratio can go as high as 50% and even higher. Because we use electronic underwriting from Freddie Mac & Fannie Mae we can determine your true borrowing ability SAME DAY!

How to increase your borrowing power!

Increasing your income and/or pay off large debts, such as credit card balances or car loans. This has the effect of lower your ratios.