Prequalification Calculator

User Rating : (494 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.

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State: -- Select -- Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Loan Purpose: Refinance Purchase Show only: -All Loan Types- 40 Yr. Fixed 30 Yr. Fixed 20 Yr. Fixed 15 Yr. Fixed 10 Yr. Fixed 1 Yr. ARM 3/1 Yr. ARM 5/1 Yr. ARM 7/1 Yr. ARM FHA 30 Yr. FHA 15 Yr. VA 30 Yr. VA 15 Yr.

Company

Loan Product

Rate

APR

Est. Pmt.

Advertiser Comments

	30 Yr. Fixed 3.625% 3.768% $912 20 Yr. Fixed 3.375% 3.573% $1,147 15 Yr. Fixed 3.125% 3.379% $1,393	Skip the salesman. Keep the commission! Get online rates, payments and a Good Faith Estimate $1,000 Best Rate Guarantee Learn more	Call Now
Updated 7/19/2019 Additional Loan Products Call Now: Array

Loan Product	Rate	Points	APR	Fees	Lock	Est. Pmt.	Close

30 Yr. Fixed	3.625 %	1	3.768 %	$ 1	30	$ 912	Learn More
30 Yr. Fixed	3.750 %	0	3.813 %	$ 1	30	$ 926	Learn More
30 Yr. Fixed	3.000 %	2	3.000 %	$ 1	30	$ 604,167	Learn More
20 Yr. Fixed	3.375 %	1	3.573 %	$ 1	30	$ 1,147	Learn More
20 Yr. Fixed	3.500 %	0	3.587 %	$ 1	30	$ 1,160	Learn More
20 Yr. Fixed	4.375 %	2	4.696 %	$ 1	30	$ 1,252	Learn More
15 Yr. Fixed	3.125 %	1	3.379 %	$ 1	30	$ 1,393	Learn More
15 Yr. Fixed	3.375 %	0	3.487 %	$ 1	30	$ 1,418	Learn More
15 Yr. Fixed	3.625 %	2	4.027 %	$ 1	30	$ 1,442	Learn More
10 Yr. Fixed	3.375 %	1	3.746 %	$ 1	30	$ 1,966	Learn More
10 Yr. Fixed	3.500 %	0	3.663 %	$ 1	30	$ 1,978	Learn More
3/1 Yr. ARM	4.250 %	2	5.156 %	$ 1	30	$ 984	Learn More
3/1 Yr. ARM	4.375 %	1	5.101 %	$ 1	30	$ 999	Learn More
3/1 Yr. ARM	4.500 %	0	5.045 %	$ 1	30	$ 1,013	Learn More
5/1 Yr. ARM	3.375 %	2	4.716 %	$ 1	30	$ 884	Learn More
5/1 Yr. ARM	4.500 %	1	5.046 %	$ 1	30	$ 1,013	Learn More
5/1 Yr. ARM	4.625 %	0	5.007 %	$ 1	30	$ 1,028	Learn More
7/1 Yr. ARM	4.250 %	2	4.935 %	$ 1	30	$ 984	Learn More
7/1 Yr. ARM	4.500 %	1	4.973 %	$ 1	30	$ 1,013	Learn More
7/1 Yr. ARM	4.750 %	0	5.010 %	$ 1	30	$ 1,043	Learn More
FHA 30 Yr.	3.125 %	2	3.342 %	$ 1	30	$ 857	Learn More
FHA 30 Yr.	3.250 %	1	3.390 %	$ 1	30	$ 870	Learn More
FHA 30 Yr.	3.375 %	0	3.437 %	$ 1	30	$ 884	Learn More
FHA 15 Yr.	3.375 %	1	3.631 %	$ 1	30	$ 1,418	Learn More
FHA 15 Yr.	3.500 %	0	3.612 %	$ 1	30	$ 1,430	Learn More

	30 Yr. Fixed 4.375% 4.424% $999	We close our loans FAST - many in 30 days or less! Rates are still low, but they may rise. Lock your rate today. We have the right loans for first-time and experienced home buyers. Learn more	Call Now
Updated 7/22/2019 Additional Loan Products Call Now: Array

Loan Product	Rate	Points	APR	Fees	Lock	Est. Pmt.	Close

30 Yr. Fixed

4.375 %

0

4.424 %

$ 1

40

$ 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.

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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1. Casey 06, Jun, 2007

   Very helpful thank you

     Reply»  
2. Kristin 20, May, 2007

   Thanks

     Reply»  
3. brian 06, May, 2007

   cool

     Reply»  
4. MARTIN 19, Apr, 2007

   VERY HELPFUL TOOL

     Reply»  
5. susett 19, Apr, 2007

   thank you for your help

     Reply»  
6. Nichole 30, Nov, 1999

   This is thing is on the money! I entered my pre-homeowner data and it calculated within a few thousand dollars of what I actually borrowed. I have recommended your calculator to friends who are nervous about lenders or otherwise in the dark with regards to their buying power! Or lack-there-of!

     Reply»