" method="post">
Income and Debt Obligations
New Loan Assumptions

* required information

30 || $_POST[interestRate]<1) $error[] = "Please make sure that the Interest rate is between 0 to 30."; elseif((intval($_POST[years]) > 30) || (intval($_POST[years]) < 0)) $error[] = "Please make sure that the Amortization length is between 0 to 30."; elseif($_POST[frontEnd]>36 || $_POST[frontEnd]< 28) $error[] = "Please make sure that the Front-end ratio is between 28 to 36."; elseif($_POST[backEnd]> 45 || $_POST[backEnd]< 36) $error[] = "Please make sure that the Front-end ratio is between 36 to 45"; if(count($error)) { echo '
'; } $error = ob_get_clean(); if(empty($error)) { ob_start(); $income = $_POST[income]/12; $debt = $_POST[childDebt] + $_POST[autoDebt] + $_POST[creditDebt] + $_POST[assoDebt] + $_POST[otherDebt]; $debt_p = $debt*100/$income; $mortgage_p = $_POST[backEnd] - $debt_p; $downPayment = $_POST[downPayment]; $n = 12*$_POST[years]; $i = ($_POST[interestRate]/12)/100; $r = 1+ $i; $frontEndRatio = $income*$_POST[frontEnd]/100; $backEndRatio = $income*$mortgage_p/100; if($frontEndRatio > $backEndRatio) { $option = $backEndRatio; $cap = $_POST[backEnd]; } if($frontEndRatio < $backEndRatio) { $option = $frontEndRatio; $cap = $_POST[frontEnd]; } $propertyTax = $_POST[tax]*$_POST[years]/$n; $propertyInsurance = $_POST[insurance]*$_POST[years]/$n; $monthlyPayment_allow = $option - $propertyTax - $propertyInsurance; $mortgage = $monthlyPayment_allow*(pow((1+$i), $n) - 1)/($i*pow((1+$i), $n)); $homeValue = $mortgage + $downPayment; ?>

Results

You may qualify for around $.

Affordibility Details

Front-End Ratio
Monthly gross income
Front-end ratio %
Calculated payment for front-end ratio
Back-End Ratio
Debts and obligations
Percent of gross income %
Maximum percentage available for mortgage payment %
Calculated payment for back-end ratio
Payment Calculation
Minimum of the two ratio options
Less: taxes and insurance
Equals: maximum allowable payment
Calculated mortgage amount
Down payment
Amount you can afford