instagram story viewer > #MortgageCalculator

#MortgageCalculator

Posts
How much income do you need to buy a $600,000 house? 🏠 To figure out how much income you need to buy a house…. 1. Start with the monthly payment on a house (use Fannie Mae’s mortgage calculator) 2. Add your monthly debt 3. Divide by .45 4. Multiply by 12 If you put 3.5% down at a 5.99% interest rate, your mortgage payment will be roughly $4,998. If you put 20% down at a 5.99% interest rate, your mortgage payment will be roughly $3,875. Income needed for 3.5% down = $173,280 Income needed for 20% down = $143,333 Keep in mind, debt to income plays a major factor in approval Closing costs are usually 1-3% of purchase price - this is negotiable This is the combined, gross pre-tax yearly income you need for that house. To get these examples on Laura and Sandi, I assumed: A 5.99% interest rate They both had monthly debt of $1500 Insurance $4500/year (estimate) Taxes $7500/year (estimate) (this may change) These show the MAXIMUM you’re likely to get approved for. That doesn’t mean it’s recommended or what you SHOULD spend. 🤌🏽 Decide what you’re comfortable spending FIRST. but this will show you what you *can* do! ✨ If you’re curious to know your pre-qualified amount, comment NEW HOME Melissa Menefee 916.667.2259
How much income do you need to buy a $600,000 house? 🏠 To figure out how much income you need to buy a house…. 1. Start with the monthly payment on a house (use Fannie Mae’s mortgage calculator) 2. Add your monthly debt 3. Divide by .45 4. Multiply by 12 If you put 3.5% down at a 5.99% interest rate, your mortgage payment will be roughly $4,998. If you put 20% down at a 5.99% interest rate, your mortgage payment will be roughly $3,875. Income needed for 3.5% down = $173,280 Income needed for 20% down = $143,333 Keep in mind, debt to income plays a major factor in approval Closing costs are usually 1-3% of purchase price - this is negotiable This is the combined, gross pre-tax yearly income you need for that house. To get these examples on Laura and Sandi, I assumed: A 5.99% interest rate They both had monthly debt of $1500 Insurance $4500/year (estimate) Taxes $7500/year (estimate) (this may change) These show the MAXIMUM you’re likely to get approved for. That doesn’t mean it’s recommended or what you SHOULD spend. 🤌🏽 Decide what you’re comfortable spending FIRST. but this will show you what you *can* do! ✨ If you’re curious to know your pre-qualified amount, comment NEW HOME Melissa Menefee 916.667.2259
Plans for buying your first home in 2025? Take a look at our mortgage calculator to get an idea of what you could afford. #halifax #firsttimebuyer #2025
Plans for buying your first home in 2025? Take a look at our mortgage calculator to get an idea of what you could afford. #halifax #firsttimebuyer #2025
I used the @Rightmove mortgage calculator to work out what I could afford, so I can focus on the fun part - falling in love with the right home 🤩 #AD #scottish #rightmove #rightmoveuk #mortgagecalculator
I used the @Rightmove mortgage calculator to work out what I could afford, so I can focus on the fun part - falling in love with the right home 🤩 #AD #scottish #rightmove #rightmoveuk #mortgagecalculator
Want to buy a home? Use this mortgage calculator to determine your monthly payment. Try it out at the link in bio.
Want to buy a home? Use this mortgage calculator to determine your monthly payment. Try it out at the link in bio.
Don’t make this mistake⬇️ Everyone wants to know how much you should have saved before buying a house. The REAL answer? If you can save a 20% down payment in the next 6 months? GREAT. If you can only save a 5% down payment? Also GREAT. We have this idea that saving 20% is the best option… but if it’s going to take you 5 years to save 20%? Home prices are probably going to continue to rise, making your extra saving practically worthless. Here’s what you need to ask: How much can I *realistically* save over the next 6-12 months? Use a mortgage calculator to see what your monthly payment would be with your current down payment. If the payment is too high, that’s ok! KEEP SAVING! But if the payment is something you can afford, but you just think you “should” wait for that 20%… you could end up payment more in the long run. 😬 What’s more important than having 20% down is being in a good financial position - if you’re able to save consistently every month, you’re paying down debt, and you have an emergency fund, you’re in a good spot❤️ Comment 🏠 if you want to buy a house in 2025 - I’ll send you the FREE Homebuying 101 class!
Don’t make this mistake⬇️ Everyone wants to know how much you should have saved before buying a house. The REAL answer? If you can save a 20% down payment in the next 6 months? GREAT. If you can only save a 5% down payment? Also GREAT. We have this idea that saving 20% is the best option… but if it’s going to take you 5 years to save 20%? Home prices are probably going to continue to rise, making your extra saving practically worthless. Here’s what you need to ask: How much can I *realistically* save over the next 6-12 months? Use a mortgage calculator to see what your monthly payment would be with your current down payment. If the payment is too high, that’s ok! KEEP SAVING! But if the payment is something you can afford, but you just think you “should” wait for that 20%… you could end up payment more in the long run. 😬 What’s more important than having 20% down is being in a good financial position - if you’re able to save consistently every month, you’re paying down debt, and you have an emergency fund, you’re in a good spot❤️ Comment 🏠 if you want to buy a house in 2025 - I’ll send you the FREE Homebuying 101 class!
Mortgage calculator on the fly💰 Use this quick math to get a sense of the monthly mortgage payments on a home. Kate Hendrickson Broker Associate 🏢 @bhgrehaven 📍 San Luis Obispo, CA 📧 Kate@slosold.com 📱 805-801-1979 Lic# 01730943 *Disclaimer: I am a real estate broker and not a loan officer. I highly recommend that you speak to a lender about your specific situation for a more detailed estimation of your monthly payments. I have many great lending resources and am happy to recommend someone to you! #realestate #realestateagent #realestatebroker #mortgagecalculator #mortgage #lending #sanluisobispo #realestate #realestateagent #realestatebroker #mortgagecalculator #mortgage #lending #sanluisobispo #slosold
Mortgage calculator on the fly💰 Use this quick math to get a sense of the monthly mortgage payments on a home. Kate Hendrickson Broker Associate 🏢 @bhgrehaven 📍 San Luis Obispo, CA 📧 [email protected] 📱 805-801-1979 Lic# 01730943 *Disclaimer: I am a real estate broker and not a loan officer. I highly recommend that you speak to a lender about your specific situation for a more detailed estimation of your monthly payments. I have many great lending resources and am happy to recommend someone to you! #realestate #realestateagent #realestatebroker #mortgagecalculator #mortgage #lending #sanluisobispo #realestate #realestateagent #realestatebroker #mortgagecalculator #mortgage #lending #sanluisobispo #slosold
how much you should make to comfortably afford a $600,000 house… I broke this down using a mortgage calculator with: 5% down ~6.5% interest (just an average for right now) & you’re looking at roughly a $5,400/month payment. using the 28% rule (keeping your housing under 28% of your income), that puts you around $230K/year household income. this number can shift a lot depending on your situation- debt, credit, taxes, insurance, etc. and you don’t necessarily need 5% down… there are 0% down, 3%, and 3.5% options depending on the loan. this is just a realistic baseline to give you an idea. not a one-size-fits-all number 🙌🏼🙂‍↕️ if you’ve been wondering what you can actually afford or looking to make a move this year message me let’s chat. 💌🤗. . . . #realtor #metrodetroit #michigan #home #mortgagepayment
how much you should make to comfortably afford a $600,000 house… I broke this down using a mortgage calculator with: 5% down ~6.5% interest (just an average for right now) & you’re looking at roughly a $5,400/month payment. using the 28% rule (keeping your housing under 28% of your income), that puts you around $230K/year household income. this number can shift a lot depending on your situation- debt, credit, taxes, insurance, etc. and you don’t necessarily need 5% down… there are 0% down, 3%, and 3.5% options depending on the loan. this is just a realistic baseline to give you an idea. not a one-size-fits-all number 🙌🏼🙂‍↕️ if you’ve been wondering what you can actually afford or looking to make a move this year message me let’s chat. 💌🤗. . . . #realtor #metrodetroit #michigan #home #mortgagepayment
So everyone ask how to clear there mortgage faster it’s the biggest debt we have right. A great way to clear it faster is to take a amount you won’t miss if you can of course (again this is if you have money left over) Not everyone does and can. But the little amounts can save you loads and also the years you take off are crazy. If you google mortgage calculator you can play around with all rates yrs amounts This is rough idea of how you can do it. And maybe give you that push to make a little start all helps #moneymum #mortgage #mortgageadvice #mortgageoverpayments #mortgagecalculator #moneysavinguk #moneytips#moneymums #moneysavers #moneypiece #moneyjar #moneymanagement #moneymindset #moneylife #moneyline #moneymoney #moneyflow #moneyquotes #moneyinthebank
So everyone ask how to clear there mortgage faster it’s the biggest debt we have right. A great way to clear it faster is to take a amount you won’t miss if you can of course (again this is if you have money left over) Not everyone does and can. But the little amounts can save you loads and also the years you take off are crazy. If you google mortgage calculator you can play around with all rates yrs amounts This is rough idea of how you can do it. And maybe give you that push to make a little start all helps #moneymum #mortgage #mortgageadvice #mortgageoverpayments #mortgagecalculator #moneysavinguk #moneytips#moneymums #moneysavers #moneypiece #moneyjar #moneymanagement #moneymindset #moneylife #moneyline #moneymoney #moneyflow #moneyquotes #moneyinthebank
Our $736k mortgage could actually cost us $1.5 MILLION 🫠 We settled in November and after $16,537 in repayments, only $3,921 has actually touched the loan. That’s only 0.53% so the goal is to hit 1% ASAP 🏠🤍 Follow along to see the progress and comment ‘CALCULATE’ if you want the link to the Mortgage calculator I use (it’s free!!) 💌 (make sure you’re following first, so I can send you the message) 🫶🏻
Our $736k mortgage could actually cost us $1.5 MILLION 🫠 We settled in November and after $16,537 in repayments, only $3,921 has actually touched the loan. That’s only 0.53% so the goal is to hit 1% ASAP 🏠🤍 Follow along to see the progress and comment ‘CALCULATE’ if you want the link to the Mortgage calculator I use (it’s free!!) 💌 (make sure you’re following first, so I can send you the message) 🫶🏻
How to afford MORE?! ⬇️ This chart uses the 28% rule. It’s a common guideline that suggests your housing payment should be about 28% or less of your gross monthly income. Housing payment includes: • principal • interest • property taxes • homeowners insurance To estimate these numbers, I used a mortgage calculator with: • 10% down • 6% interest rate (example) • estimated taxes and insurance After estimating the monthly payment for each price point, I divided it by 0.28 to find the income needed. But here’s the thing… The 28% rule is just a guideline. Mortgage approvals are usually based on debt-to-income ratio and your full financial profile, and some programs may allow total debt up to around 45–50% of income depending on the loan program and underwriting. So lenders may approve you for more than this chart shows. This is simply a starting point. Comment GUIDE and I’ll send you my free guide that shows how to calculate how much house you can afford without stretching your budget.
How to afford MORE?! ⬇️ This chart uses the 28% rule. It’s a common guideline that suggests your housing payment should be about 28% or less of your gross monthly income. Housing payment includes: • principal • interest • property taxes • homeowners insurance To estimate these numbers, I used a mortgage calculator with: • 10% down • 6% interest rate (example) • estimated taxes and insurance After estimating the monthly payment for each price point, I divided it by 0.28 to find the income needed. But here’s the thing… The 28% rule is just a guideline. Mortgage approvals are usually based on debt-to-income ratio and your full financial profile, and some programs may allow total debt up to around 45–50% of income depending on the loan program and underwriting. So lenders may approve you for more than this chart shows. This is simply a starting point. Comment GUIDE and I’ll send you my free guide that shows how to calculate how much house you can afford without stretching your budget.
It's a sign! Ready to calculate? Tap the link in bio to use our mortgage calculator.
It's a sign! Ready to calculate? Tap the link in bio to use our mortgage calculator.
Want to take your Zillow dreams to the next level? Test out our #mortgage calculator by clicking the link in our bio.
Want to take your Zillow dreams to the next level? Test out our #mortgage calculator by clicking the link in our bio.
back to up