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This
Calculator determines the Housing to
Income Ratio the lender reviews during the
loan approval process. Your monthly
housing costs (including property taxes
and insurance, as well as mortgage
payments) cannot exceed 28 percent of your
monthly gross income.
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Step
1 - PITI Payment
Enter the PITI amount from the PITI
Calculator. You may enter different
amounts by clicking in the field and
typing the new numbers or returning to the
original calculator and making changes.
Step
2 - Borrower's Monthly Gross Income
Enter the Borrower's Monthly Gross (before
deductions) Income from the Income
Worksheet.
Step
3 - Co-Borrower's Monthly Gross Income
Enter the Co-borrower's Monthly Gross
(before deductions) Income from the Income
Worksheet.
Step
4 - Calculate
Click the Calculate button to see the
calculated Housing to Income Ratio. This
percent should be less than 28% |
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Disclaimer:
Our mortgage calculators are presented
strictly for illustrative purposes. All
results disclosed by our calculators are
estimates and HomeBuyerFunds.com assumes no
liability or responsibility for
computational errors. HomebuyerFunds.com
makes no guaranty or representation that you
will qualify for any particular loan, loan
amount or loan terms.
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