Qualifying Information

A. Gross Annual Income Husband Wife


____________ _______________


Total _________________ (Line A)


B. Gross Monthly Income Line A divided by 12 _____________ (Line B)


C. Monthly Allowable Housing Expenses and Long Term Obligations Line B multiplied by .36



D. Monthly Allowable Housing Expenses

Line C minus long-term obligations or line B multiplied by .28 whichever is less


E. Monthly Principle and interest Line D multiplied by .80


F. Estimated Mortgage Amount

Line E divided by the factor from the current rate and multiplied by 1,000

6.99 is the factor for a 7.5% loan



G. Estimated Affordable Price Range Line F divided by .97 (depending on down payment)