Will I qualify for a home loan?
This tool is used to compute the monthly
taxes and insurance (PITI)
payment and determine whether you qualify for a loan with your current level of
income and debt. To compute, you must enter data for
Annual Income, Sales Price, and
Interest Rate. The other fields are optional. When all fields have been
entered click the "Compute" button. To qualify, your
Housing Expense Ratio must be 28% or less, and your
Total Debt Ratio must be 36% or less.