Affordability Calculator - Home Loan Rates Texas

affordability calculator


	Use the calculator below to give you an idea of how much of a mortgage you can afford. However, it is meant to be a guideline, not a rule. We have many programs available that can maximize the amount of a home you can afford.


	Desired mortgage amount:


	Mortgage length (in years)


	Interest %


	Annual property tax


	Total monthly payments not including mortgage (car, loans, credit cards, etc).


	Summary


	Monthly Principal + Interest


	Total Monthly Obligations


	Required Salary

Listed below are the basic guidelines of how our industry determines how much of a mortgage payment you qualify for.

1.	Your gross (before taxes) monthly salary should be greater than 28% of the sum of the monthly mortgage and monthly tax payments.

2.	Your gross (before taxes) monthly salary should be greater than 36% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.

Loan Calculators are tools designed to help you. However, we can help you know exactly what you qualify for.

Today's Mortgage Rates

2/3/2012

Loan Program	Rate	APR
3/1 ARM
5/1 ARM
15 Year Fixed	3.500	3.621
30 Year Fixed	4.125	4.195
FHA 30 Year Fixed

See detailed closing costs by using rate calculator

RateWatch is a free interest rate notification service. Click the link then enter your desired interest rate and email address. You will then be notified when your interest rate is available.

testimonials

My mortgage experience was very easy. He was always quick to respond to my calls and I received the best rate after searching everywhere. A very satisfied customer!

Kevin Mundy

The closing of my home loan went very smoothly. This is my first home and I found the process to be easier than most would have you to believe. The rate and service was outstanding.

Chris Parker

The pre-approval letter was issued in an astonishingly rapid timeframe. He spent a great deal of time with me and I knew exactly what to expect at the closing and exactly what to bring "to the table".

John and Joan Currie