The Best Mortgage Calculators On the Web!  In order to facilitate your purchase of your new home in the Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills Estates, Rolling Hills, Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance and San Pedro, please try my 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... A reminder that these "self-help" tools are helpful but not a substitute for personal advice from an experienced mortgage broker. The services of Tom Lieb, C.P.A., Mortgage Broker are complimentary. Why not consult with an experienced C.P.A. who can find the best loan program for your personal needs? Tom provides all buyers with a detailed Home Buyers Analysis that includes the tax benefits of each loan program. Call Thomas J. Lieb, C.P.A., Mortgage Broker for immediate and direct assistance with your new mortgage: 310-544-1248. Tom may also be reached by e-mail: tom@tjlcpas.com
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.
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:
- Monthly Income X 28% = monthly PITI
- 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.
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Pamela Lieb
RE/MAX Palos Verdes Realty
25550 Hawthorne Blvd Suite 100
Torrance, CA 90505
DRE# 00779647
Office: 310-375-9831
Fax: 866-319-6577
Cell: 310-683-9743
PamelaLieb@NUMBER1EXPERT.com
Pamela Lieb, CRS, GRI, CLHMS, QSC, Re/Max Palos Verdes Real Estate Broker with over 25 years of experience in the representation of unique estate properties in the prestigious communities of Palos Verdes Estates, Rolling Hills, Rolling Hills Estates and Rancho Palos Verdes, as well as the South Bay Beach Cities, Torrance, and San Pedro. Pamela's extensive knowledge of the South Bay enables her to excel at matching clients to the perfect home. Pamela is dedicated to serving the needs of her clients with discretion and attentive service. A favor of reply is requested to join Pamela's distinguished client list: 310.544.1365 or e-mail Pamela at Pamela@PamelaLieb.com   
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