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"Outstanding job"
"This letter is written in appreciation for the outstanding job that Eric Peek did in selling our home..."
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The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep... How Much Should Your Income Be?
What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.
Definitions
- Desired mortgage amount
- The total loan amount you are looking to qualify for.
- Monthly housing expenses
- Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.
- Monthly liabilities
- Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.
- Monthly housing payment (PITI)
- This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:
- Monthly Income X 28% = monthly PITI
- Monthly Income X 36% - Other loan payments = monthly PITI
- Maximum principal and interest (PI)
- This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.
- Start interest rates at
- The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. |
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Hope and Eric Peek
RealtyForce
8717 Susanna Lane
Chevy Chase, MD. 20815
Phone: 301-656-2690
Hope Cell: 301-728-7234
Eric Cell: 301-728-7426
Fax: 301-656-2703
Email: hopeandericpeek@NUMBER1EXPERT.com
We have been Realtors for over 20 years; Eric got his licenses in 1986, and Hope got her licenses in 1988. We were married in 1997 and have worked as a team with RE/MAX Realty Services from 1997-11/2008.
We wanted to offer more personal service to our clients and moved to RealtyForce in Bethesda in the beginning of November 2008. We have lived in Chevy Chase for just about 10 years and we are your neighborhood Realtors. With a smaller company, we have an advantage of being able to pass on some of the savings directly to the client. For example, we do not charge any extra administrative fees that many larger companies charge.
We are licensed in all 3 jurisdications DC/MD/VA. Hope has her Graduate Realtor Institute (GRI) designation and both of us have our Certified Residential Specialist (CRS) designations. We cover a large geographic area, since we were individual Realtors first for 9+ years before we were married. One of us is always available to help you with any of your Real Estate needs. We have a large list of contacts such as home improvement contractors, lending institutions, home inspectors, and network with many buyers, sellers and Realtors. Hope and Eric are graduates of the University of Maryland. Our enthusiasm, energy and knowledge of Real Estate assure you that you are working with the right Realtors.     
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