The Individual Profile Calculator IPC uses the member's actual net income and debt, such as, revolving credit, auto payments etc. to calculate affordable loan amount.

Monthly debt payment input does not include current rent or house payment. The calculator computes a loan amount and monthly payment based on net income capability.

This calculator assumes taxes (T), insurances(I) and HOA fees do not exceed 9% of net monthly income. The IPC uses the net income minus "T&I" and other debt to compute an affordable loan amount. When buying or refinancing a condominium or CO-OP, the monthly home owner's association (HOA) fee must be added to other debt to compute an affordable loan amount.

The IPC estimates an affordable loan amount based on a "P&I" or "Interest Only" monthly payment. The calculator requires the member to input the method of employer payment of income, net income, interest rate and loan term. The member is advised to use current local interest rates and term, so as to obtain an estimated loan amount and payment reflective of net income capability.

The calculators use the 62% rule to generate two loan amounts. The interest only loan amount has the same monthly payment as the P&I loan amount, but is higher due to the lack of a "Principal" (P) component.

You need to be a RELDT® member to use the Individual Profile Calculator.