Pennsylvania Home Buyer

What should your debt to income ratio be?

Debt to Income Ratio Calculator

  Gross Monthly Income  
  Monthly Debt  
  "Ideal" Monthly Payment  
  FHA & USDA  

Animated balancing scaleDid you know that mortgage companies use an income and monthly debt calculation to arrive at your maximum mortgage payment? This income ratio is commonly called the "front end" and "back end ratio". The "front end ratio" is the maximum mortgage payment based on your monthly GROSS income and the "back end" ratio is the proposed mortgage payment with your monthly debt (i.e. credit cards, car payment, alimony, child support, school loans, etc.).

You can estimate the "ideal" mortgage payment for an FHA, Veteran (VA), USDA, and conventional loan. Simply enter your gross monthly income and monthly debt into the boxes and click calculate. That's all there is to it! The result is your ideal mortgage payment. The mortgage includes principal and interest on the loan, one month's real estate taxes, one month's homeowners insurance and monthly mortgage insurance premium, if applicable.

How much does it cost to buy a house in Pennsylvania?

Use the PA mortgage calculator to estimate the down payment, closing costs and monthly payment for FHA, VA, USDA & conventional loans.Closing cost calculator