Making your homeowner dreams reality in Illinois

708-597-8884 - S.W. 847-709-2005 - N.W. Call Us Today!	Definitive information about Home Buying, Mortgages, Credit and Financial Recovery. Get information & straight answers to all of your mortgage questions, no fluff, no hype, no pressure.
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Envision Mortgage Solutions thrives only on honesty, on honor, on the sacredness of obligations, on faithful dedication to our clients and colleagues, and on unselfish performance. Without them, it cannot live.

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Envision Mortgage Solutions is an Illinois Residential Mortgage Licensee and a local Chicagoland company to provide personal service:

Crestwood Office

4731 Midlothian Tpke #32
Crestwood, IL 60445
[708] 597-8884

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Licensed with the Illinois Department of Financial & Professional Regulation # MB.6759105 and is a member in good standing with the Illinois Association of Mortgage Professionals www.iamp.biz, the National Assoc. of Mortgage Brokers, and the Illinois Secretary of State.

Licensed by the Commissioner of the Indiana Securities Division # 05-0413 LB and is a broker in good standing in accordance with the provisions of Indiana Code 23-2-5.

How much can I afford?

Monthly Income
Income 1
Income 2
Income 3

Down Payment
3 % 5 % 10 %
15 % 20 %
Other: %

Monthly Payments
Auto Loans
Student Loans
Installment Loans
Revolving Accts
Other Debts

Mortgage Information
Interest Rate
Term in Years
Est. Front Ratio
Est. Back Ratio

Instructions

Enter the total pre-tax monthly income of all borrowers. Enter the total monthly obligations of all borrowers. Include minimum monthly payments of all accounts that will not be paid off in less than 10 months to calculate your monthly obligations. Enter expected mortgage rate and term and amount available for your down payment.

Results

Principal and Interest: $1,122.69

Monthly Taxes: $216.67

Monthly Hazard Insurance: $60.56

Monthly Mortgage Insurance: $82.37

Total Mortgage Payment: $1,482.29

Monthly Income: $5,000.00

Monthly Obligations: $400.00

Actual Front Ratio: 28%

Actual Back Ratio: 36%

Home Value: $208,000.00

Down Payment: $20,800.00

Loan Amount: $187,200.00

Loan To Value Ratio: 90.00%

Explanation
A mortgage company uses ratios to analyze your mortgage payment. The housing payment ratio (or Front Ratio) compares your total mortgage payment to your monthly income. The total debt expense (or Back Ratio) compares your total monthly obligations including your total mortgage payment to your monthly income. These ratios are meant to be used as guides. Please contact a mortgage professional for a complete prequalification analysis.

These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

In addition to the information you entered, this calculator uses estimated of other amounts (such as monthly taxes and insurance) that may apply to your loan. Therefore, the results displayed above are only estimates and cannot be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

708-597-8884 - S.W.847-709-2005 - N.W.Call Us Today!

708-597-8884 - S.W.
847-709-2005 - N.W.
Call Us Today!