Max Mortgage Qualifier Calculator

Mortgage Qualifier Calculator

This calculator will evaluate the maximum mortgage and monthly payments you can qualify for based on your household income and expenses. Lenders call it Gross Debt Service Ratio and Total Debt Service Ratio. Enter the required data in the fields below using numerical values only. Decimal points are OK but avoid using commas or blank spaces. Press calculate to view the results below. NOTE: This investment tool is intended for educational purposes only. Please consult with a qualified and licensed mortgage specialist to receive unbiased and professional advice.

Please enter the following information:
Total Household Income
Annual Family Income: (this information can be gathered from T-4 slips, pay stubs,employment letters, financial statements, tax assessment notices, investment income documentation, etc.) $
Total Household Expenses
Annual Property Taxes: (this amount may be indicated on a property listing, estimated by the builder, provided by a realtor, or available by contacting the local city or municipal hall.) $
Monthly Heating Costs/Condo Fees: (enter your total monthly heating costs plus half of any applicable monthly condo/maintenance fees. If unsure ask your realtor or builder to estimate it for you.) $
Minimum Monthly Payments for Loans/Credit Cards: (include minimum monthly payments on loans, credit cards, personal use property lease payments, alimony, etc. but exclude other mortgages and/or credit lines.) $
Additional Financing
Monthly Secondary Financing Payment: (enter the total monthly amount of all existing loans and mortgages that are or will be registered against the property. i.e., a second or third mortgage, a secured line of credit.) $
Mortgage Rate
Interest Rate: (enter the interest rate you would like to use for calculating your mortgage maximum and monthly payments. Use a whole number format such as 4.56 but not .0456 for example.)


Maximum Mortgage Monthly Payment

DISLCAIMER: The administrator and owner of this website take no responsibility for any financial decisions made based upon the use of this calculator. The information provided by this calculator is intended solely for general information and educational purposes. Rates of return may fluctuate over time and especially for long-term investments. Final calculated results are not guaranteed to be completely accurate and are in no way endorsed, offered or guaranteed by Savii Financial Concepts. Copyright 2009 ©