This calculator assumes that the member is spending ten percent (10%) of their monthly net income for other types of monthly debt payments, such as auto and credit cards.

This calculator assumes that the consumer with 10% in other monthly debt payments will not spend more than 52% of net monthly income on monthly housing expense. The "Generic 10% Calculator" will give the member an estimate of the affordable loan amount and corresponding monthly P&I payment.

This 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 local interest rates and term, so as to obtain an estimated loan amount and P&I payment reflective of net income capability.

The output is a loan amount, P&I payment, first month interest due and first month principal reduction. Property Taxes and Insurance (T&I) or Taxes and Association Fees are assumed to be nine percent (9%) of net income i.e. PITI or PIT+association fee = 52% of net monthly income.

You need to be a RELDT® member to use the No Debt Loan Amount Calculator.