Mortgage Qualifying Income Calculator

Change these fields as desired:
Mortgage Qualifying Incomes Calculator
Enter the values below. The calculator will work to calculate what kind of income needed to qualify for specific values. Enter in the monthly payment, taxes, home owners insurance, other debt payments, sale price of home and expected down payment, and the calculator will give you an estimate of how much income you will probably need to qualify.

Monthly mortgage principal/interest:
Expected Annual Property Tax:
Expected Annual Home Insurance
Expected Monthly Debt Payments (car/student loans, credit cards, etc.)
Sale Price of Home
Down Payment

PMI appears above if your downpayment 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 28% 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 36% income is based on the PITI (mortgage principal plus interest amount plus your monthly property tax and home insurance), PLUS any other debt payments you must pay every month. This total amount is the sum described above as Total monthly debt payment.

As long as your total income (salary plus interest, rental and dividend income) meets BOTH of the two incomes you will probably qualify. So you will need an annual income of .

Information and interactive calculators are made available to you, a financial advisor, as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to client’s individual circumstances. All examples are hypothetical and are for illustrative purposes. Related to tax implications, property purchase and sale prices, and loan terms clients need to seek personalized advice from qualified real estate and tax professionals.

Mortgage Qualifying Incomes Calculator