Visio Talk

Did you know there’s a mortgage payment calculator that you can use to find out if you’ll qualify for a mortgage? This special type of mortgage calclater is called a mortgage qualifier calculator, and it’s very easy to use.

You need to have some basic information on hand to use this type of morgage calculator. You’ll need totals of your monthly income and expenses including any other loan payments or other debts you pay each month, as well as the amount of cash you have on hand for a down payment. Once you plug this information into the mortgage qualifier calculator, you’ll see how much of a mortgage you can reasonably expect to apply for. The calculator shows you exactly how much home you can afford, taking into account closing costs, property tax and home insurance among other things.

If you think your income will go up in the next two years or you will have more of a down payment then, you can adjust the figures and see how much more of a mortgage you could then expect to get. You can also adjust for a decrease or increase in your monthly expenses, for example if you know your car will be paid off in a year.

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