Gold Coast, Roscoe Village and Edgewater real estate and homes for sale in Illinois, Luxury, Investment - The Mike Frank Team, REALTORS® The Mike Frank Team REALTORS(r) for Gold Coast, Roscoe Village and Edgewater, Illinois real estate, Luxury, Investment - NUMBER1EXPERTS™ The Mike Frank Team NUMBER1EXPERTS(tm) for Gold Coast, Roscoe Village and Edgewater, Illinois real estate, Luxury, Investment
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The Mike Frank Team, REALTORŪ, real estate agents and broker for Gold Coast, Roscoe Village and Edgewater Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)
All agents are NOT alike! Find out more about The Mike Frank team and our service commitments to you. Call us now at:773-770-7300.


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"Mike was very professional and understanding..."
"He was especially helpful with handling the transaction when I was out of state! I would definitely recommend him to all of my friends!"
Barbara Chang-Holt
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Mortgage Calculators: Gold Coast, Roscoe Village and Edgewater 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 our 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. Try each calculator with different interest rates, loan amounts, and payment schedules. 

The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. 

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... 

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.




The Mike Frank Team, REALTORŪ, real estate agents and broker for Gold Coast, Roscoe Village and Edgewater Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

The Mike Frank Team
Keller Williams Lincoln Park

2106 N. Clark St.
Chicago, IL 60614
Cell: 773-251-8963
Direct: 773-770-7300
Fax: 206 888-2876
Email: mikefrank@kw.com

Mike is a knowledgeable, experienced realtor and consistent top producer who puts the needs of his clients first. During his 10 years of professional experience in the consulting industry prior to obtaining his real estate license, Mike learned how to listen to his clients, quickly identify their main objectives, problems and priorities and deliver solutions that exceeded their expectations. He has been using the same approach successfully with his real estate clients for more than six years. Mike utilizes his extensive market knowledge, cutting edge technology, and proven negotiating skills to assist sellers and buyers in obtaining the best possible price and making their transactions smooth and worry free. Mike specializes in helping his clients buy and sell luxury condos, single-family homes, and residential investment properties in Chicago in the River North, Gold Coast, Roscoe Village, Edgewater, Lincoln Park, Lakeview, Lincoln Square, Ravenswood, Bucktown and Uptown areas. Call Mike now for more information and expect a quick response!

Equal HousingGRIMLSREALTOR


Keller Williams Lincoln Park real estate and homes for sale in Gold Coast, Roscoe Village and Edgewater Illinois

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