Adjustable Rate Mortgage Calculator

Your ability to get mortgage loan depends mostly on your income, savings, expenses, and liabilities. This calculator will estimate the maximum amount of loan you are eligible to get from mortgages.

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Annual income
Your total before-tax annual income. If you are married, this will combined with the income of your spouse.
Purchase price
Actual price you need to pay to buy the home.
Total monthly payment
Total amount of principal, interest, taxes, and insurance you are able to pay monthly.
Term in years
Duration to fully offset the loan.
Interest rate
Current practice of annual interest rate on mortgages.
Property tax rate
Tax payable on your property.
Home insurance rate
Insurance premium payable on the homeowner’s insurance.
Show schedule by month
Choosing this option will change the amortization table and other reports to monthly view.
Cash on hand
Amount of cash you can contribute to the home finance in the form of down payment.
Loan origination rate
Fees charged by the lender to offset their loan origination costs.
Number of points paid
Number of mortgage discount points you wish to utilize to reduce interest payments.
Other closing costs
Total costs of closing the mortgage contract including appraiser fees, filing fees etc.
Limit down payment
If you check this box, your required amount of down payment will be limited to a level so that you can avoid principal mortgage insurance (PMI) costs.
Monthly car payment(s)
Monthly installments paid on auto loan(s), if any.
Credit card payments
Amount paid monthly on the credit cards.
Other loan payments
Total amount of all other monthly loan payments.
Total closing costs
Upfront costs needed to close the mortgage contract including filing fees, points paid, origination fees and other related costs.
Monthly PMI payment
Amount needed to pay monthly principal mortgage insurance (PMI). If your contribution to the whole amount of the home is less than 20%, the annual PMI will be set between 0.5% and 2%.
Monthly PI payment
Amount of monthly principal and interest on the mortgage.
Total for down payment
After deducting the closing costs, this is the amount left for down payment.