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How much income is required to purchase a specific home?

The Income Mortgage Requirement Calculator determines the amount of monthly income you need to qualify for a loan based on an input purchase price, down payment, and loan conditions. You can then contact a lending institution or mortgage broker with these estimates. Once you are pre-approved you will be in a stronger negotiating position when making an offer on a piece of property.
Enter Data Here
Property Sales Price - $*
Down Payment - %
Closing Costs - %
Monthly Obligations - $*
 
Taxes and Insurance
Annual Property Tax - %
Annual Hazard Insurance- %
Annual Condo Fee - $
Loan Conditions
Annual Interest Rate - %
Loan Term - years
 
* Entries are required. Click on underlined items for help.
A loan amortization table will take from 5 to 40 seconds to compute depending on the speed of your computer's processor. Computers with limited memory may experience a memory error.
All information provided here is for personal use only and is not guaranteed. To verify this information please contact a realtor directly.
*For use with JavaScript-enabled browsers Internet Explorer 4.01, Netscape Navigator 3.0 and AOL 4.0 (or later versions).

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