Novi, Northville and Farmington Hills real estate and homes for sale in Michigan - The Jamey Kramer Group, REALTORS®

- NUMBER1EXPERTS™

The Jamey Kramer Group, REALTORŽ, real estate agents and broker for Novi, Northville and Farmington Hills Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Mortgage Calculators: Novi, Northville and Farmington Hills Michigan home buying, real estate listings, and homes for sale in Oakland County, MI

Welcome > Resources > Mortgage Calculators > Your Maximum Mortgage ...

The Best Mortgage Calculators On the Web!

Please try our 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:

Monthly Income X 28% = monthly PITI
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.

Jamey Kramer's Home Team, REALTORŽ, real estate agents and broker for Novi, Northville and Farmington Hills Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

The Jamey Kramer Group
RE/MAX 100
26870 Beck Rd.
Novi, MI 48374
248-348-7200
800-965-SOLD
Email: Jamey@JameyKramer.com
Jamey Kramer is America's NUMBER1EXPERT in the Novi and Northville, Michigan Area. He has been the leading individual residential sales agent in the area for several years. Jamey's integrity, work ethic, and real estate knowledge make him the obvious choice for assisting you in the sale or purchase of your new home. Jamey is noted for his professionalism and efficiency. Whether you're looking to buy or sell a home in the Novi or Northville area, contact Jamey Kramer at RE/MAX (248)348-3000 or email him at Jamey@JameyKramer.com.

www.jameykramer.com is brought to you by The Jamey Kramer Group
NUMBER1EXPERTS™ in real estate for Novi, Northville and Farmington Hills, Michigan

Read our Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT™
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.

Return to Top >