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Prequalification Calculator

Prequalification Calculator

User Rating : 1 Stars 2 Stars 3 Stars 4 Stars 5 Stars (466 votes, average: 2.64 out of 5)

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 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 12/14/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 4.375 % 0 4.469 % $ 2 45 $ 999 Learn More
30 Yr. Fixed 3.625% 3.848% $912
20 Yr. Fixed 3.500% 3.699% $1,160
15 Yr. Fixed 3.000% 3.253% $1,381
  • Skip the salesman. Keep the commission!
  • Get online rates, payments and a Good Faith Estimate
  • $1,000 Best Rate Guarantee

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learn more
  • Updated 12/13/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 3.625 % 2 3.848 % $ 1 30 $ 912 Learn More
30 Yr. Fixed 3.750 % 1 3.894 % $ 1 30 $ 926 Learn More
30 Yr. Fixed 3.875 % 0 3.938 % $ 1 30 $ 940 Learn More
20 Yr. Fixed 3.500 % 1 3.699 % $ 1 30 $ 1,160 Learn More
20 Yr. Fixed 3.750 % 0 3.838 % $ 1 30 $ 1,186 Learn More
15 Yr. Fixed 3.000 % 1 3.253 % $ 1 30 $ 1,381 Learn More
15 Yr. Fixed 3.250 % 0 3.361 % $ 1 30 $ 1,405 Learn More
10 Yr. Fixed 3.000 % 1 3.369 % $ 1 30 $ 1,931 Learn More
10 Yr. Fixed 3.250 % 0 3.412 % $ 1 30 $ 1,954 Learn More
FHA 30 Yr. 3.250 % 1 3.390 % $ 1 30 $ 870 Learn More
FHA 30 Yr. 3.500 % 0 3.562 % $ 1 30 $ 898 Learn More
FHA 15 Yr. 2.875 % 1 3.127 % $ 1 30 $ 1,369 Learn More
FHA 15 Yr. 3.125 % 0 3.236 % $ 1 30 $ 1,393 Learn More
VA 30 Yr. 3.375 % 1 3.516 % $ 1 30 $ 884 Learn More
VA 30 Yr. 3.625 % 0 3.687 % $ 1 30 $ 912 Learn More
VA 15 Yr. 3.000 % 1 3.253 % $ 1 30 $ 1,381 Learn More
VA 15 Yr. 3.250 % 0 3.361 % $ 1 30 $ 1,405 Learn More
30 Yr. Fixed 4.125% 4.217% $970
  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
  • Save time & avoid paperwork by sharing your financial info instantly.

Learn more
Call now Call Now

learn more
  • Updated 12/14/2017
Loan Product Rate Points APR Fees Lock Est. Pmt. Close
30 Yr. Fixed 4.125 % 0 4.217 % $ 2 45 $ 970 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
4.500%
4.626%
$761
 

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. chel 07, Nov, 2007

    nice

      Reply»  
  2. Jesse 22, Sep, 2007

    What a Great Tool, its great to have something to check your payments and not have to sign your life away. THANKS

      Reply»  
  3. Lee 21, Sep, 2007

    Thanks

      Reply»  
  4. Jessica 28, Jun, 2007

    Thanks for such a useful tool! Im glad I could use it without the hassle of putting in my info!

      Reply»  
  5. Mirsad K. 28, Jun, 2007

    I LIKE !!!

      Reply»  
  6. William 17, Jun, 2007

    Thanks for the wide range of calculators

      Reply»  
  7. Deb 12, Jun, 2007

    Great site! Very helpful, added to favorites! The greatest, no forms to fill out!!

      Reply»  
  8. aplin 09, Jun, 2007

    see you in Raleigh! thank you!

      Reply»  

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