How much can you afford

Are you ready to buy a new home or real estate in Moberly MO or in a surrounding Randolph County MO area? If so, you may use this affordability calculator to input the mortgage amount and your financial information to determine what salary amount would be needed to afford the loan required for your desired property.

See if Your Income is Sufficient to Qualify
Desired Mortgage for New Home
Mortgage Length	Years
Interest	%
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
Summary
Monthly Principal + Interest
Total Housing Payment (tax & insurance included)
Required Salary
Your salary must meet the following two conditions: Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments. DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. 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.

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