Prequalify for Mortgage Loan Calculator

Want to know how much of a mortgage loan amount you can afford to take out? This calculator takes into account your current monthly income, the loan amortization term (15, 20, 30 years), interest rate you get and the down payment that you put down. It also asks you for your monthly housing and other expenses. Here is a sample input/output done by the calculator:

refinance calculator

Monthly Income $5,000
Loan Term 20 years
Interest Rate 6%
Down Payment $20,000
Monthly Housing expenses 1000
Other monthly expenses 1000

Sample Output

Purchase Price (loan + down payment) $7,916.15
Upfront investment (down payment + closing costs) $19,162.52
Loan amount $27,916.15
Closing costs (3% of loan amount) $837.48
Monthly payment $200.00