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Determining Credit Scores for Two People on Mortgage Loan
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If two people are applying for the same loan, a mortgage lender will pull the credit scores for each individual. Often the lender will pull each person's credit score from all three of the bureaus, Equifax, Trans Union and Experian. The middle score is used for each person. If there are two borrowers, some mortgage companies will take the middle scores for both applicants and then use the lower score to determine a mortgage rate. If one applicant has significantly better credit than the other, he or she may try to qualify for a loan based on his or her own in order to get a lower interest rate. |
How Much Real Estate Can You Afford in Nashville TN?
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Jenny's calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying real estate in Nashville Tennessee.
Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link. |
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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| Income Needed to Qualify for the Mortgage |
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| Total Monthly Loan Payment: |
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| Total Monthly Debt Payment: |
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| Monthly Loan Insurance (%): |
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| Qualifying Income of
% GDS Ratio: |
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| Qualifying Income of % TDS Ratio: |
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| What You Can Afford |
| We are using the % ratio.
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| Cost of House: |
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| Down Payment: |
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| Loan Value: |
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| Monthly Principal & Interest: |
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| Monthly Insurance: |
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| Monthly Property Tax: |
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| Monthly Condo Fees: |
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| Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate) |
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REALTOR and the REALTOR logo are trademarks owned by the National Association of REALTORS. REALTORS accept and respect a strict Code of Ethics which is the consumer's assurance of integrity. The Tennessee Real Estate Commission and Sumner Association of Realtors support member REALTORS. Respecting and adhering to the Realtor® Code of Ethics and as a Christian Realtor Jenny Markham performs all aspects of Hendersonville Tennessee real estate duties and transactions with utmost honesty and consideration for all parties involved. Code of Ethics and Standards of Practice
of the NATIONAL ASSOCIATION OF REALTORS ®
Effective January 1, 2009 |
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