Purchase Calculator
Loan Amount
$240,000.00
The total amount of your mortgage loan.
Monthly Loan Payment (P&I)
$1,516.96
Your estimated monthly mortgage payment (Principal & Interest).
Total Monthly Payment (PITI)
$1,916.96
Including Principle, Interest, Property Taxes, and Homeowners Insurance.
Loan to Value (LTV)
80.00%
The loan amount divided by the property's appraised value.
DTI Analysis
Front-End DTI
38.34%(Exceeded)
Housing costs as a percentage of income - Front end DTI ratio exceeds typical lender limits.
Back-End DTI
48.34%(Exceeded)
Total debt payments as a percentage of income - Back end DTI ratio exceeds typical lender limits.
DTI-Based Affordability Scenarios
Very Affordable
$900.00
Maximum mortgage payment under the 'Good' DTI threshold. 28% of income
Affordable
$1,250.00
Maximum mortgage payment under the 'Medium' DTI threshold. 35% of income
Barely Affordable
$1,650.00
Maximum mortgage payment under the 'High' DTI threshold. 43% of income
Loan Type
Conventional
Conventional loans are mortgages not backed by a government agency. They typically require higher credit scores and larger down payments.