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Prequalification Calculator

Prequalification Calculator

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Want to prequalify for a mortgage? Our mortgage pre-qualification calculator shows how lenders see you. See how much you can afford based on yearly income, debts & other factors. Our mortgage pre-qualification calculator will indicate how much you can borrow with a home loan by analyzing your income, assets, and current mortgage interest rates available to you.


Company Loan Product Rate APR Est. Pmt. Advertiser Comments
30 Yr. Fixed 3.750% 4.046% $926
20 Yr. Fixed 3.500% 3.933% $1,160
15 Yr. Fixed 2.875% 3.417% $1,369
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  • We provide VA, FHA, and Conventional loans

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  • Updated 11/22/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 3.750 % 2 4.046 % $ 3 45 $ 926 Learn More
30 Yr. Fixed 3.875 % 1 4.002 % $ 1 45 $ 940 Learn More
30 Yr. Fixed 4.125 % 0 4.137 % $ 297 45 $ 969 Learn More
20 Yr. Fixed 3.500 % 2 3.933 % $ 3 45 $ 1,160 Learn More
20 Yr. Fixed 3.750 % 1 3.948 % $ 1 45 $ 1,186 Learn More
20 Yr. Fixed 3.990 % 0 4.007 % $ 297 45 $ 1,211 Learn More
15 Yr. Fixed 2.875 % 2 3.417 % $ 3 45 $ 1,369 Learn More
15 Yr. Fixed 3.125 % 1 3.393 % $ 1 45 $ 1,393 Learn More
15 Yr. Fixed 3.375 % 0 3.397 % $ 297 45 $ 1,418 Learn More
10 Yr. Fixed 2.750 % 2 3.519 % $ 3 45 $ 1,908 Learn More
10 Yr. Fixed 3.000 % 1 3.440 % $ 2 45 $ 1,931 Learn More
10 Yr. Fixed 3.250 % 0 3.281 % $ 297 45 $ 1,954 Learn More
5/1 Yr. ARM 3.500 % 2 4.128 % $ 3 45 $ 898 Learn More
5/1 Yr. ARM 3.875 % 1 4.118 % $ 2 45 $ 940 Learn More
7/1 Yr. ARM 3.500 % 2 4.080 % $ 4 45 $ 898 Learn More
7/1 Yr. ARM 4.000 % 1 4.163 % $ 2 45 $ 955 Learn More
FHA 30 Yr. 3.250 % 2 3.643 % $ 6 45 $ 870 Learn More
FHA 30 Yr. 3.375 % 1 3.656 % $ 5 45 $ 884 Learn More
FHA 30 Yr. 3.625 % 0 3.778 % $ 3 45 $ 912 Learn More
FHA 15 Yr. 2.750 % 2 3.581 % $ 7 45 $ 1,357 Learn More
FHA 15 Yr. 3.125 % 1 3.678 % $ 5 45 $ 1,393 Learn More
FHA 15 Yr. 3.375 % 0 3.649 % $ 3 45 $ 1,418 Learn More
VA 30 Yr. 3.250 % 2 3.671 % $ 6 45 $ 870 Learn More
VA 30 Yr. 3.375 % 1 3.684 % $ 5 45 $ 884 Learn More
VA 30 Yr. 3.625 % 0 3.798 % $ 4 45 $ 912 Learn More
30 Yr. Fixed 3.875% 4.022% $940
20 Yr. Fixed 3.625% 3.828% $1,173
15 Yr. Fixed 3.250% 3.651% $1,405
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  • Updated 11/22/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 3.875 % 1 4.022 % $ 1 30 $ 940 Learn More
30 Yr. Fixed 4.000 % 0 4.066 % $ 1 30 $ 955 Learn More
30 Yr. Fixed 4.125 % 2 4.357 % $ 1 30 $ 969 Learn More
30 Yr. Fixed 4.250 % -1 4.233 % $ 1 30 $ 984 Learn More
20 Yr. Fixed 3.625 % 1 3.828 % $ 1 30 $ 1,173 Learn More
20 Yr. Fixed 3.875 % 2 4.193 % $ 1 30 $ 1,199 Learn More
20 Yr. Fixed 3.875 % 0 3.966 % $ 1 30 $ 1,199 Learn More
20 Yr. Fixed 3.875 % -1 3.852 % $ 1 30 $ 1,199 Learn More
15 Yr. Fixed 3.250 % 2 3.651 % $ 1 30 $ 1,405 Learn More
15 Yr. Fixed 3.250 % 1 3.508 % $ 1 30 $ 1,405 Learn More
15 Yr. Fixed 3.375 % 0 3.490 % $ 1 30 $ 1,418 Learn More
15 Yr. Fixed 3.375 % -1 3.346 % $ 1 30 $ 1,418 Learn More
10 Yr. Fixed 3.250 % 2 3.833 % $ 1 30 $ 1,954 Learn More
10 Yr. Fixed 3.250 % 1 3.626 % $ 1 30 $ 1,954 Learn More
10 Yr. Fixed 3.250 % -1 3.207 % $ 1 30 $ 1,954 Learn More
10 Yr. Fixed 3.375 % 0 3.543 % $ 1 30 $ 1,966 Learn More
5/1 Yr. ARM 3.250 % 1 3.867 % $ 1 30 $ 870 Learn More
5/1 Yr. ARM 3.375 % 2 3.991 % $ 1 30 $ 884 Learn More
5/1 Yr. ARM 3.500 % 0 3.875 % $ 1 30 $ 898 Learn More
7/1 Yr. ARM 3.375 % 2 3.921 % $ 1 30 $ 884 Learn More
7/1 Yr. ARM 3.500 % 1 3.901 % $ 1 30 $ 898 Learn More
7/1 Yr. ARM 3.625 % 0 3.879 % $ 1 30 $ 912 Learn More
FHA 30 Yr. 3.375 % 2 3.734 % $ 5 30 $ 884 Learn More
FHA 30 Yr. 3.625 % 1 3.770 % $ 1 30 $ 912 Learn More
FHA 30 Yr. 3.625 % 0 3.689 % $ 1 30 $ 912 Learn More
FHA 15 Yr. 2.750 % 2 3.390 % $ 5 30 $ 1,357 Learn More
FHA 15 Yr. 3.000 % 1 3.504 % $ 5 30 $ 1,381 Learn More
FHA 15 Yr. 3.375 % 0 3.688 % $ 4 30 $ 1,418 Learn More
VA 30 Yr. 3.375 % 2 3.636 % $ 2 30 $ 884 Learn More
VA 30 Yr. 3.625 % 1 3.810 % $ 2 30 $ 912 Learn More
VA 30 Yr. 3.750 % 0 3.825 % $ 1 30 $ 926 Learn More
VA 15 Yr. 2.750 % 2 3.216 % $ 2 30 $ 1,357 Learn More
VA 15 Yr. 2.875 % 1 3.202 % $ 2 30 $ 1,369 Learn More
VA 15 Yr. 3.250 % 0 3.401 % $ 2 30 $ 1,405 Learn More
30 Yr. Fixed 0.036% 0.219% $559
20 Yr. Fixed 0.035% 0.211% $836
15 Yr. Fixed 0.030% 0.264% $1,114
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  • Updated 11/22/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 0.036 % 2 0.219 % $ 1 30 $ 559 Learn More
30 Yr. Fixed 0.038 % 1 0.155 % $ 1 30 $ 559 Learn More
30 Yr. Fixed 0.039 % 0 0.090 % $ 1 30 $ 559 Learn More
20 Yr. Fixed 0.035 % 1 0.211 % $ 1 30 $ 836 Learn More
20 Yr. Fixed 0.038 % 0 0.114 % $ 1 30 $ 836 Learn More
15 Yr. Fixed 0.030 % 1 0.264 % $ 1 30 $ 1,114 Learn More
15 Yr. Fixed 0.033 % 0 0.135 % $ 1 30 $ 1,114 Learn More
10 Yr. Fixed 0.030 % 1 0.380 % $ 1 30 $ 1,669 Learn More
10 Yr. Fixed 0.033 % 0 0.185 % $ 1 30 $ 1,669 Learn More
3/1 Yr. ARM 0.034 % 1 3.256 % $ 1 30 $ 558 Learn More
3/1 Yr. ARM 0.036 % 0 3.182 % $ 1 30 $ 559 Learn More
5/1 Yr. ARM 0.033 % 1 2.779 % $ 1 30 $ 558 Learn More
5/1 Yr. ARM 0.035 % 0 2.709 % $ 1 30 $ 558 Learn More
7/1 Yr. ARM 0.034 % 1 2.363 % $ 1 30 $ 558 Learn More
7/1 Yr. ARM 0.036 % 0 2.296 % $ 1 30 $ 559 Learn More
FHA 30 Yr. 0.033 % 1 0.150 % $ 1 30 $ 558 Learn More
FHA 30 Yr. 0.035 % 0 0.086 % $ 1 30 $ 558 Learn More
FHA 15 Yr. 0.029 % 1 0.263 % $ 1 30 $ 1,114 Learn More
FHA 15 Yr. 0.031 % 0 0.134 % $ 1 30 $ 1,114 Learn More
VA 30 Yr. 0.034 % 1 0.151 % $ 1 30 $ 558 Learn More
VA 30 Yr. 0.036 % 0 0.088 % $ 1 30 $ 559 Learn More
VA 15 Yr. 0.030 % 1 0.264 % $ 1 30 $ 1,114 Learn More
VA 15 Yr. 0.033 % 0 0.135 % $ 1 30 $ 1,114 Learn More
30 Yr. Fixed 4.375% 4.469% $999
  • Refinance to a get a lower payment, cash back or a faster payoff.
  • Rates are still low, but they may rise. Lock your rate today.
  • We have the right loans for first-time and experienced home buyers.

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  • Updated 11/23/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 4.375 % 0 4.469 % $ 2 45 $ 999 Learn More

How to use the Prequalification calculator

Enter Your Financial Information

  • Gross Monthly Pay: Your household income before taxes and deductions.
  • Loan Term: The number of years you'll have to repay your mortgage.
  • Annual Percentage Rate (APR): Enter the estimated mortgage interest rate (see a list of current mortgage interest rates).
  • Local Property Tax Rate: You can obtain this information from the local property tax collector's office or website. Enter the percentage rate (not the dollar amount) in the calculator.
  • Money Available for Down Payment and Closing Costs: The amount of cash you have to pay toward these expenses.
  • Other Monthly Obligations: Include recurring installment payments, including credit cards, auto payments, personal and education loans.

Click the "calculate" button, and check the results.

30 Yr. Fixed - Purchase Rates from Our Lenders in California

Lenders
Rate
APR
Monthly Payment
Quicken Loans
4.560%
4.687%
$766
 

Home Purchase or Refinance: Can You Prequalify?

  • Home Value / Purchase Price: The maximum amount you prequalify for, based on the information provided.
  • Total Cash Paid at Closing: The amount you're contributing for closing costs and a down payment.
  • Cash Applied to Closing Costs: An estimate of closing costs.
  • Cash Applied to Down Payment: What's left of your cash contribution is used for a down payment.

 

Monthly Housing Expenses

  • Mortgage Payment: The amount of the principal and interest payment based on the amount you qualify to borrow and the interest rate you've entered.
  • Property Taxes: The estimated monthly amount of property taxes. If you're putting less than 20% down, this amount will be added to your mortgage payment.
  • Mortgage Insurance: A down payment of less than 20% of the purchase price will require mortgage insurance, which will be added to your mortgage payment.
  • Hazard Insurance: As with taxes and mortgage insurance, this will be added to your mortgage payment if you borrow more than 80% of your home's purchase price.
  • Total Housing Expense: This amount generally shouldn't exceed 28% of your gross income if you want to prequalify.
  • Other Monthly Expenses: The amount you entered for other monthly payment obligations.
  • Total Monthly Expenses: The sum of your total monthly housing payment and other monthly expenses. It generally exceed 36% of your gross monthly income for pre-qualification purposes.

These figures are guidelines. Those with spotless credit, lots of assets, or a very stable job history might qualify for more financing. Conversely, those with credit problems or minimal assets may qualify for less. We recommend that you speak directly with lenders to determine what is right for your situation. You can request up to four free quotes from competing lenders here, with no cost and absolutely no obligation to you.

You can also compare savings on loan terms, rates and amounts using the amortization calculator, and determine potential benefits of refinancing using the refinance calculator

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38 Responses to "Prequalification Calculator"
  1. Lora 02, Apr, 2008

    I like this so very much!! Thank you!!

      Reply»  
  2. kimco933 21, Mar, 2008

    This a very helpful tool. I will use it often

      Reply»  
  3. KAREN 07, Mar, 2008

    Something is seriously wrong with this calculator. I entered an income of $1800 with down of $5000 on a 30yr at 6% with $500 expenses and got a qualification for a purchase price of $29K !!! - - - - EDITOR'S COMMENT: To prequalify for a loan, your total monthly expenses (housing expenses plus other monthly obligations) cannot exceed 36% of your total gross monthly income. With an income of $1,800, this means your monthly expenses including housing should be limited to $648 per month. You have existing obligations of $500 per month, which only leaves $148 for your housing expense. This expense includes your mortgage payment, your property taxes, your mortgage insurance and your hazard insurance. With all this factored in, the standard prequalification method does not produce the size of loan you are looking for. Make sure you're entering your gross (not your net) income. This is greater than the amount that you deposit in your account. It is your income before social security and taxes and benefits and such are taken out. Also, make sure the $500 doesn't include utilities, gas, groceries, or that sort of thing. It should only include obligations such as credit card payments, auto loans, student loans and that sort of thing. Please let us know if you have other questions.

      Reply»  
  4. reagan 22, Jan, 2008

    hurray, thank you ;)

      Reply»  
  5. brian 21, Jan, 2008

    cool dude!

      Reply»  
  6. Nathan 18, Jan, 2008

    Looks great...Thanks

      Reply»  
  7. Antonides 11, Nov, 2007

    THANK YOU...I NOW KNOW WHERE I NEED TO BE FINANCIALLY!!!

      Reply»  
  8. Derek 08, Nov, 2007

    Great Tool....

      Reply»  

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