Finance Your Home
How much home can you afford?
Most people have a general idea of how much they feel comfortable spending. It's equally important to know how much your lender calculates you can afford. With assistance provided by your Cressy & Everett Real Estate sales professional, you'll be able to better prepare the many details required during the financing application process.
Evaluate your financial situation as the lenders do.
Typically, your total monthly housing costs should not exceed 28 percent of your gross monthly income. Or, housing costs plus any outstanding monthly long term debt (car loans, credit card balances, etc.) should not exceed 36 percent of gross monthly income.
Ask how your lender determines the total monthly housing cost figure.
It usually includes your mortgage principal and interest payments, property taxes and hazard insurance.
Determine how much your financial institution is willing to lend you by completing our Mortgage Calculator or calling a Cressy & Everett Real Estate sales professional for help during the pre-qualification process.
Know how much you can afford in monthly payments.
Lenders factor in sales price and down payment, but place more importance on how much you can handle your monthly expenses.
Financial Calculators
Calculators
How Much House Can You Afford?
You supply your income information and we calculate how much you can afford.
CalculateMortgage Calculator
Find out how much that new home will cost!
CalculateMortgage Payment Table Calculator
See how much a home loan will cost with varying interest rates and payments on the same chart!
CalculateMortgage Qualification Calculator
See what lenders expect your minimum annual income to be in order to afford your next home.
CalculatePrepayment Mortgage Reduction
This form allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan.
Calculate
Tuition Savings Calculator
See how much you need to contribute each year in order to put your children through college.
Calculate
APR/Front End Cost Calculator
You give the upfront costs and it finds the actual Annual Percentage Rate.
CalculateHow Long Will It Last? - Loan Calculator
Here is a new twist on the mortgage calculator. Here you tell how much you want to spend each month, an interest rate and a loan amount, and the computer tells you how long it will take you to pay it off!
CalculateHow Much to Retire
Here is a new simple retirement calculator. It tells how much you will need to provide a certain income for a set number of years.
CalculateLoan Payment Calculator
Enter the values and we will tell you the payment. The loan can be a mortgage, car loan, or any other simple interest amortization over a fixed time with fixed monthly payments.
CalculatePrepayment vs. Investment -- A Scenario
This form allows you to compare what would happen if you took one of two choices with some extra cash you have -- prepaying your mortgage each month, or investing it instead.
CalculateSavings Calculator
This doesn't deal with inflation, taxes or any of that complicated stuff. This is just a simple calculator that lets you start with an amount of money and make regular monthly deposits, and see how much it grows.
Calculate
How much house can you afford?
Principal & Interest Table Calculator
Mortgage Qualification Calculator
Prepayment Mortgage Reduction
Tuition Savings Calculator
Simple Loan Payment Calculator
Prepayment vs. Investment -- A Scenario
Simple Savings Calculator
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