Mortgage Qualification Calculator

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This calculator indicates whether or not your client qualifies for a conventional mortgage.


If your clients have a monthly income of $6,000 and want to buy a home that costs $250,000, do they qualify for a conventional mortgage?

Field Input
Price of home $250,000
Closing costs $9,000
Down payment $50,000
Years of payments 30
Annual interest rate 6%
Real estate taxes per year $4,000
Mortgage insurance per year $1,200
Gross monthly income $6,000

In this example, your clients would qualify for a conventional mortgage on a $250,000 home. The maximum monthly payment for which they would qualify is $1,860.

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