Buyer's Advantage. Chicago realtor. Real estate buyer broker

Prequalification Calculator

Our income qualification calculator estimates the maximum monthly mortgage payment and interest (P+I) you will qualify for under current Fannie Mae underwriting guidelines.

This calculator operates using JAVA SCRIPT with your web browser. If you are using a proprietary browser such as Prodigy or America on Line provide, or an older browser version, it may not function.

Monthly Income
Salary/Wages:	$	Other Income:	$
Monthly Expenses
Auto Payment:	$	Installment Loans:	$
Credit Cards:	$	Other Payments:	$
Loan Term and Interest Rate
Loan Term:	Yrs.	Interest Rate:	%

Maximum monthly mortgage payment:			$
Maximum loan amount:			$

Fill in all fields above the "Calculate" button and then click on that button.

	Enter only numerical data and decimal points. Do not use dollar signs, percent signs, commas or other non-numerical symbols. For example, "ten thousand" should be entered as 10000 or 10000.00 but not 10,000 or 10,000.00 or $10,000.
	Enter monthly amounts for all income and expense items. For example, if your gross annual salary is $48,000, enter your "Salary/wages" as 4000.
	Enter the loan term in years.
	Enter the interest rate as the following examples show: 8, not .08 or 8%; 7.5, not .075 or 7.5%.

Disclaimer: Our income qualification calculator is presented strictly for illustrative purposes. This is not an offer to lend. All results disclosed by the calculator are estimates

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Did You Know ?

A recent study by U.S. Sprint found that 232 relocating Sprint employees who hired buyer's brokers paid an average of 91% of a home's list price. People who use traditional agents typically pay about 96%.

On a house originally priced at $300,000, that's a difference of $15,000!

“Confide to a traditional real estate broker that you're prepared to bid as much as $250,000 on a house, and the broker will tip off the seller. Tell a buyer broker, and the seller will never know.”