Mortgage Qualification Calculator Available for Websites
The MoneyToys™ Web Site Calculator collection has grown to 16 calculators with the addition of a Mortgage Qualification Calculator. The Mortgage Qualifier for web sites helps a home buyer determine how much he or she may be able to borrow and what monthly payment amounts a lender may allow based upon the individual’s financial income and debt.
This mortgage affordability calculator also accommodates a co-borrower. The income and debt information of the co-borrower is also considered in the qualification calculation.
Webmasters can modify the default Housing Ratio and Debt Ratio values to reflect those of the lenders with whom you are working. These values vary but it is important to remember the lender determines them for a home buyer. Industry standards at the time of this writing are 28 for housing and 36 for debt. In addition to income, debt and qualifying ratios, the Mortgage Qualification Calculator accounts for the amount a borrower has available for a downpayment and the interest rates they anticipate for different loan terms.
As a website visitor has entered the necessary values, the Mortgage Qualifier calculates and displays the estimated monthly payments, loan amounts and purchase prices for three mortgage loans for which the home buyer may qualify.
For more information:
http://www.moneytoys.com/mortgage-qualification-calculator.php
MoneyToys web site calculators are easy to install. With a few lines of HTML and MoneyToys™ website calculators you can quickly add online interactivity to your own web site! You can change the fonts, colors and sizes of MoneyToys web site calculators so they match the design of your website. In addition, the default values for the financial values can be set by you to fit with your local market.
And with MoneyToys calculators on your web site, your visitors can perform financial calculations without leaving your site! The entire collection of MoneyToys is available for only $139.95 USD.
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