Orchard Knoll

Payment Calculator

See if Your Income is Sufficient to Qualify

Desired Mortgage for New Home

Mortgage Length

Years
Interest %
Annual Tax
Annual Homeowners Insurance
 
Summary

Monthly Principal + 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 40% 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.

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4 First Street, Bridgewater, MA 02324 | P.O. Box 41, 2628 Cram Hill Road, Roxbury, VT 05669 Phone: (508) 123-4567
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