Tucson, Marana and Oro Valley real estate and homes for sale in Arizona, luxury homes - The Lee Katterman Team, REALTORS® The Lee Katterman Team REALTORS(r) for Tucson, Marana and Oro Valley, Arizona real estate, luxury homes - NUMBER1EXPERTS™ The Lee Katterman Team NUMBER1EXPERTS(tm) for Tucson, Marana and Oro Valley, Arizona real estate, luxury homes
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The Lee Katterman Team, REALTOR®, real estate agents and broker for Tucson, Marana and Oro Valley Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

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Mortgage Calculators: Tucson, Marana and Oro Valley Arizona home buying, real estate listings, and homes for sale in Pima County, AZ
Welcome > Resources > Mortgage Calculators > Your Income ...

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. Try each calculator with different interest rates, loan amounts, and payment schedules. 

The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. 

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... 

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.

This Financial Calculator requires a Browser with Java Support



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:

  1. Monthly Income X 28% = monthly PITI
  2. 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.



The Lee Katterman Team, REALTOR®, real estate agents and broker for Tucson, Marana and Oro Valley Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

The Lee Katterman Real Estate Group
RE/MAX Sienna
2010 W. Anklam Rd #150
Tucson, AZ. 85745
phone: 520-241-7777
toll free: 877-333-6373
fax: 520-797-1510
fax: 520-293-1540
Email: Lee@TucsonDreams.com

The Lee Katterman Team -- serving the Tucson, Oro Valley, Marana, Catalina, Sahuarita, and Vail markets.

Lee Katterman has built a solid reputation for success by understanding his clients’ needs in relation to the real estate market. You deserve to be represented by caring and knowledgeable professionals when involving your most personal and valuable asset.

Why take unnecessary risks? It makes sense to engage the Lee Katterman Teams' winning sales philosophy and technology. Along with their superior knowledge of the current real estate market, they offer years of experience and have hundreds of satisfied clients. Call us! We would be pleased to discuss your needs and provide you with service and results that will exceed your expectations.

Equal HousingMLSREALTOR




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