This calculator takes into account the "33/41" debt-to-income ratios many lenders use to determine how much money to lend to borrowers seeking conventional mortgages. For the 33-percent ratio, the principal, interest, taxes, assessments or other fees added to the payment must total 33 percent or less of your gross, or pre-tax, income. The 41-percent DTI ratio includes ALL your regular monthly debt payments, such as mortgage expenses, auto loans, credit cards, utilities, etc.

DISCLAIMER: The prequalification figures above are based upon conventional program gudelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.