Mortgage Calculator



PMI appears above if your down payment is less than 20% of your home value. That means you must pay an extra .32% to .90% a year until you break the 20% criteria. They also add that into the income requirement.
The Front End Ratio (35%) income is based on PITI (Principal + Interest + Tax + Insurance) or more specifically, the mortgage principal plus interest amount plus your monthly property tax and home insurance the lender typically holds in an escrow account for you. This monthly amount is listed above as Total monthly lender payment.

The Back End Ratio (45%) income is based on the PITI (Principal + Interest + Monthly Property Tax + Monthly Home Insurance + Monthly Debt). This total amount is the sum described above as Total monthly debt payment.
As long as your total income (salary + interest income + rental income + dividend income) meets ONE of the two incomes you will probably qualify, and if it meets both you are in even better shape.

The accuracy and use of this calculator is not guaranteed.

*Hypothetical monthly mortgage payments reflect hypothetical Principal & Interest amounts rounded to the nearest dollar amount and do not include insurance, taxes, or other possible fees. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer.


Fairway Independent Mortgage Corp.

131 Wendover Dr., Kingsport, TN 37663

2 Worth Cir., #2, Johnson City, TN  37601

Fax: 423.245.5132

Toll Free: 866.929.0222


Licensed in Tennessee by the Department of Financial Institutions #109192 & in Virginia by the Virginia State Corporation Commission, MC-4040, NMLS ID #2289

Roger Hutchins, Manager, 423-292-2415,, NMLS#157105

Complaints may be directed to: (877) 699-0353 or Email us:


Copyright ©2018 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. All rights reserved. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.