Monthly Income Income 1 Income 2 Income 3
Down Payment 3 % 5 % 10 % 15 % 20 % Other: %
Mortgage Information Interest Rate Current Mortgage Rates 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.
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.
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