Monthly gross income required to qualify
This will calculate: the monthly gross income a buyer needs to qualify for a given purchase, and the down payment that purchase would require.
It handles a first and a second loan together. Enter each loan's loan-to-value ratio, rate and term, add PMI on the first if there is any, then the property costs and the buyer's existing monthly debts.
Leave the second loan's term at zero if there is only one loan. The debt ratio defaults to 36%, but you can type in whatever ratio your lender uses.
Purchase and loan information