House Affordability Calculator

The perfect tool to assist you in how much you can afford in housing, and more...

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Calculating Self-Employment Monthly Income for a Mortgage Application
Year One Net Income
Net income after deducting business expenses | Kumkhat nak a miat lio lio
Net income after deducting business expenses | Kumkhat nak a miat lio lio
Year Two Net Income
Net income after deducting business expenses | Kumkhat hnih nak a miat lio lio
Net income after deducting business expenses | Kumkhat hnih nak a miat lio lio
Learn how the banks typically calculate self-employment income for loan applications?
Read
Ziang tin bank pawl in loan hrang ah mah ten business nei pawl income a tuat sak ti siar duh.
Total Summary
Name Total
Year One Net Income $ 45,000.00
Year Two Net Income $ 35,000.00
AVG. MTHLY. INCOME $ 3,333.33
Two years of income $ 80,000.00
Year one monthly income $ 3,750.00
Year two monthly income $ 2,916.67
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Calculating Self-Employment Monthly Income for a Mortgage Application.pdf

Bank hin a tlang pin a liam cia kum 2 sung ih kan income an zoh theu business nei, si lo le self-employed, Sushi Dawr nei tivek kan si len. Sinan thenkhat Lender cu na income a pung hman tuk lo, thleng dam lam te te a kar ah a um a si len cu ai tam khal income an lo dil thei. Pakhat le pakhat an dil dan a bang aw lo.

Income an zoh tik ah a tlang pin a liam cia mi kum 2 sung ih sum fai hum mi lio lio hmang in thla khat ah ziang hmuah na ngah ti an tuat theu. Tax returns caa pawl, Schedule C a miat le sumsuak pawl report nak, bank statements pawl tla cu an dil tlang pi.

  • A tlun ih kumkhat nak le khum hnih nak na kom teh hnu ih ngah mi thla khat income AVG. MTHLY. INCOME kha a hnuai ih Monthly household income (before tax) ti mi ah self-employed na si ah cun House Affordability calculator hrang ah na hmang a tul ding.
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Horizontal
House Affordability Calculator
Monthly household income (before tax)
Thlakhat sung sum lut tax phiat hlan. Self-employment | Sushi tuah pawl hrang ah cun kum 2 income average na tuah tul men thei.
Thlakhat sung sum lut tax phiat hlan. Self-employment | Sushi tuah pawl hrang ah cun kum 2 income average na tuah tul men thei.
Monthly debts -auto loan, credit cards, etc.
Thlatin lei ba (Motor bill, credit cards, tvk)
Thlatin lei ba (Motor bill, credit cards, tvk)
Mortgage loan term (years)
Kumziat sung pek ding ah sachuk tuah
Kumziat sung pek ding ah sachuk tuah
Interest rate (%)
Sumtu ziang hmuah
Sumtu ziang hmuah
Debt-to-income (DTI) ratio 50 %
DTI loan ih zir in thlang
0 60
DTI loan ih zir in thlang
Down payment
Ziang hmuah na down ding.
Ziang hmuah na down ding.
Add co-signer
Co-signer's monthly household income (before tax)
Thlakhat sung sum lut tax phiat hlan. Self-employment | Sushi tuah pawl hrang ah cun kum 2 income average na tuah tul men thei.
Thlakhat sung sum lut tax phiat hlan. Self-employment | Sushi tuah pawl hrang ah cun kum 2 income average na tuah tul men thei.
Co-singer's monthly housing expenses
Thlatin inn bill, taxes, insurance, HOA za ten kom
Thlatin inn bill, taxes, insurance, HOA za ten kom
Co-singer's monthly debts- auto loan, credit, etc
Thlatin lei ba (Motor bill, credit cards, tvk)
Thlatin lei ba (Motor bill, credit cards, tvk)
Total Summary
Name Total
Monthly household income (before tax) $ 3,520.00
Monthly debts -auto loan, credit cards, etc. $ 0.00
Mortgage loan term (years) 30 years
Interest rate (%) 7.3 %
Debt-to-income (DTI) ratio 50 %
Down payment $ 15,000.00
Co-signer's monthly household income (before tax) $ 0.00
Co-singer's monthly housing expenses $ 0.00
Co-singer's monthly debts- auto loan, credit, etc $ 0.00
YOU CAN AFFORD UP TO $ 271,720.34
Monthly mortgage payment $ 1,760.00
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House Affordability Calculator.pdf
Understanding the Costs A house affordability calculator 

A house affordability calculator is a useful tool for individuals looking to determine how much house they can afford based on their financial situation.

When using a house affordability calculator, individuals typically input information such as their monthly household income, desired mortgage terms (such as the length of the loan and the down payment amount), the interest rate they expect to receive, and their debt-to-income ratio (DTI).

The calculator then calculates an estimate of the maximum home purchase price that the individual can afford based on this information. This can be helpful for individuals in determining a realistic budget for their home purchase and ensuring that they do not take on more debt than they can comfortably afford.

To calculate how much home you can afford using monthly payment periods, and interest rate, you can the following formula:

Amount = Monthly Payment ((1 – (1 + Interest Rate)^-Periods) Interest Rate)

Where:
– Monthly: The amount you afford to pay each towards your mortgage
– Periods: The total number of months over which you will be making payments (e.g. 30 years = 360 months)
– Interest Rate: The annual interest rate for the loan

This formula will help you determine the maximum loan amount you can afford based on the monthly payment you can make, the number of periods over which you will be making payments, and the interest rate.

Overall, a house affordability calculator can be a valuable tool for individuals looking to buy a home and want to ensure that they make a financially responsible decision.

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 These links are provided as a convenience only. Such Third-Party Websites are not under our control. We are not responsible for the content of any Third-Party Website or any link contained in a Third-Party Website.

Click Here to view and print property report cards

Disclaimer

This blog page is purely informative and does not substitute for professional financial advice or closing agent. Always consult a qualified financial advisor, title company for specific seller net close-related inquiries or concerns.