Chicago and Lincoln Park real estate and homes for sale in Illinois - Tod Pratt, REALTOR® Tod Pratt REALTOR(r) for Lincoln Park, Illinois real estate - NUMBER1EXPERT™ Tod Pratt NUMBER1EXPERT(tm) for Lincoln Park, Illinois real estate

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Tod Pratt, REALTORŪ, real estate agent and broker for Chicago and Lincoln Park Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 312-475-4185.


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Mortgage Calculators: Chicago and Lincoln Park Illinois home buying, real estate listings, and homes for sale in Cook County, IL
Welcome > Resources > Mortgage Calculators > Your Maximum Mortgage ...


The Best Mortgage Calculators On the Web!
 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
 

What's Your Maximum Mortgage?

What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.

This Financial Calculator requires a Browser with Java Support



Definitions

Monthly income
Total monthly income from all sources. All income should be entered before taxes.

Monthly housing expenses
Your monthly houses expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.

Monthly liabilities
Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.

Monthly housing payment (PITI)
This is your total Principal, Interest, Tax and Insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and principal mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations:

  1. Monthly Income X 28% = monthly PITI
  2. Monthly Income X 36% - Other loan payments = monthly PITI

Maximum principal and interest (PI)
This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.

Start interest rates at
The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




Tod Pratt, REALTORŪ, real estate agent and broker for Chicago and Lincoln Park Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Tod Pratt
Koenig& Strey

1940 North Clark Street
Chicago, IL 60614
312-475-4185
773-744-4433
Fax: 312-943-6500
tod@yourhomeinchicago.com

Tod has been successfully selling residential real estate full time for the past 16 years. Since the beginning of his real estate career, Tod has believed that good listening and communication skills are his keys in assisting his clients toward the successful search, purchase, and closing of their new home. In this service-oriented business, giving clients the timely, appropriate advice they need is what Tod strives to deliver to every client. In 1993 Tod received the GRI designation (Graduate Realtors Institute), and in 1994, the CRS designation (Certified Residential Specialist). Being the recipient of these designations shows Tod's professional commitment to his industry, and more importantly, to his clients. Tod has had much experience in assisting relocating corporate clients into their new city and home. Tod has been a recommended realtor of Johnson & Johnson, Bristol-Myers Squibb, Jannsen Pharmaceutical, along with many others. Tod specializes in the sale of the following downtown areas of Chicago: Lincoln Park, Gold Coast, The 'Loop', River North, River West, Wrigleyville, and Lakeview. Give Tod a call today and let him use his experience to help you find 'your home in Chicago'.

CRSEqual HousingGRI


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