17 North St.
Marcellus, N.Y. 13108
Fax:(315) 673-2023
Phone: (315) 673-1628
- BABETTE YUHAS
- Founder
- ANN YUHAS, REALTOR, CRS, GREEN
- Licensed Real Estate Broker Owner
- Certified Residential Specialist
- Green designation
17 North St. Marcellus, N.Y. 13108 Fax:(315) 673-2023 Phone: (315) 673-1628 |
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TO CALCULATE THE MORTGAGE AMOUNT FOR WHICH YOU QUALIFY:
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The total basic monthly housing cost is normally based on 25% to 28% of the gross monthly income depending on lending institutions and types of financing. With debt service, the ratio becomes 33% to 36%. See chart below.
| GROSS YEARLY INCOME | 25% of GROSS MONTHLY INCOME | 28% of GROSS MONTHLY INCOME | 33% of GROSS MONTHLY INCOME | 36% of GROSS MONTHLY INCOME |
| $15,000. | $313. | $350. | $413. | $450. |
| $20,000. | $417. | $467. | $550. | $600. |
| $25,000. | $521. | $583. | $688. | $750. |
| $30,000. | $625. | $700. | $825. | $900 |
| $35,000 | $729. | $817. | $963. | $1050. |
| $40,000. | $833. | $933. | $1100. | $1200. |
| $45,000. | $938. | $1050. | $1238. | $1350. |
| $50,000. | $1042. | $1167. | $1375. | $1500. |
| $55,000. | $1146. | $1283. | $1513. | $1650. |
| $60,000. | $1250. | $1400. | $1650. | $1800. |
| $65,000. | $1354. | $1516. | $1788. | $1950. |
| $70,000. | $1458. | $1633. | $1925. | $2100. |
| $75,000. | $1563. | $1750. | $2062. | $2250. |
| $80,000. | $1667. | $1867. | $2200. | $2400. |
| $85,000. | $1771. | $1983. | $2338. | $2550. |
| $90,000. | $1875. | $2100. | $2475. | $2700. |
| $95,000. | $1979. | $2217. | $2613. | $2850. |
| $100,000. | $2803. | $2333. | $2750. | $3000. |