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Catherine Favara, REALTOR®, real estate agent and broker for Brooklyn New York home listings, property and land for sale - NUMBER1EXPERT(tm)
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Mortgage Calculators: Brooklyn New York home buying, real estate listings, and homes for sale in Kings County, NY
Welcome > Resources > Mortgage Calculators > Your Maximum Mortgage ...

The Best Mortgage Calculators On the Web! 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! 

Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. 

The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. 

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... 

What's Your Maximum Mortgage?

What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.

This Financial Calculator requires a Browser with Java Support



Definitions

Monthly income
Total monthly income from all sources. All income should be entered before taxes.

Monthly housing expenses
Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.

Monthly liabilities
Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.

Monthly housing payment (PITI)
This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:

  1. Monthly Income X 28% = monthly PITI
  2. Monthly Income X 36% - Other loan payments = monthly PITI

Maximum principal and interest (PI)
This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.

Start interest rates at
The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.



Catherine Favara, REALTOR®, real estate agent and broker for Brooklyn New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Catherine Favara
Coldwell Banker- Mid Plaza
3041 Ave U.
Brooklyn, NY. 11229
718-646-3600
Fax: 718-743-2700
Email: msbrooklynre@NUMBER1EXPERT.com
Email: midplaza@aol.com

Catherine Favara is one of the Top Agents in the Borough of Brooklyn. She has over 24 years proven track record! Experienced assistants work exclusively for Cathy to provide SUPERIOR SERVICE! State of the art computer technology allows Cathy to provide fast efficient service to her clients. SPECIALIZING IN: Marketing of Residential Properties, Relocation Director, Conservator & Executor of Estates, Foreclosure & Short Sales, Overseer of all Real Estate Transactions. TITLES AND CERTIFICATIONS: 2007 President of Women’s Council of Realtors, Brooklyn Chapter 2009 President Elect for Women’s Council of Realtors, New York State 2004 Realtor Associate of the Year 2009 Vice President of Brooklyn Board of Realtors GRI & CRS Designations **President’s Elite** 1996-2007 Certified Relocation Director Mike Ferry Superstar Program

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Coldwell Banker- Mid Plaza real estate and homes for sale in Brooklyn New York

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