Mortgage Calculator

FIND YOUR MONTHLY PAYMENTS
FILL OUT THE FORM
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ENJOY YOUR HOME

Explanation:

PMI appears above if your down payment is less than 20% of your home value. That means you must pay an extra .32% to .90% a year until you break the 20% criteria. They also add that into the income requirement.
The Front End Ratio (35%) income is based on PITI (Principal + Interest + Tax + Insurance) or more specifically, the mortgage principal plus interest amount plus your monthly property tax and home insurance the lender typically holds in an escrow account for you. This monthly amount is listed above as Total monthly lender payment.

The Back End Ratio (45%) income is based on the PITI (Principal + Interest + Monthly Property Tax + Monthly Home Insurance + Monthly Debt). This total amount is the sum described above as Total monthly debt payment.
As long as your total income (salary + interest income + rental income + dividend income) meets ONE of the two incomes you will probably qualify, and if it meets both you are in even better shape.

The accuracy and use of this calculator is not guaranteed.

423.246.0222

PRIMARY RESIDENTIAL MORTGAGE, INC.

131 Wendover Drive,

Kingsport, TN 37663

Fax: 423.245.5132

Toll Free: 866.929.0222

Email: info@vlender.com

Licensed in Tennessee by the Department of Financial Institutions #1473 & in Virginia by the Virginia State Corporation Commission, MC-0794, NMLS ID #3094

Company NMLS #3094 Branch NMLS #155958

Mortgage Specialist in Kingsport, Bristol and Johnson City, TN
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