VA Mortgage Calculator

Veteran Home Loans Rates  for  7/03/2009
30 Year Fixed ----------------- 0.000 points 5.500% 5.610% APR		15 Year Fixed ----------------- 0.000 points 5.500% 5.686% APR

Frequent Question # 20: -- -- -- -- -- -- -- -- VA Loans and Your Debt Ratio - How is my VA home loan eligibility determined? -- -- -- -- -- -- -- -- To qualify for a VA home loan, you must fall into a certain debt ratio. Your income, credit card debts and the new indebtedness created by the VA mortgage are all tallied up to see where you land in terms of debt. The maximum debt ratio you may have and still qualify for a VA home loan is 41%. This is only one factor used to determine eligibility, the others include your reliable income and credit rating. If you are considering applying for a VA home loan, you may wish to make an appointment with a financial planner and debt counselor to see how you might improve your standing in advance of the application process. -- -- -- -- -- -- -- -- >> VA Loan Testimonials -- -- -- -- -- -- -- -- MONTGOMERY GI BILL Earning a degree online is flexible and convenient, making it easy for busy individuals to fit online courses into their lives. University of Phoenix DeVry University Westwood College CTU Online Capella University American Military University Kaplan University > more GI Bill schools

VA Loan - How much can I afford to borrow?

Calculators >>

-- How much can I borrow? -- How much can I afford? -- How much are my VA loan payments? -- Show my VA loan amortization schedule. -- Compare 3 different veteran mortgages. -- How much can I save by consolidating?

Desired Mortgage for New Home
Mortgage Length	Years
Interest	%
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
Monthly Principal + Interest
Total Housing Payment (tax & insurance included)
Required Salary
Your salary must meet the following two conditions: Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments. DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.