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Loan to value ratio (LVR)

With this mortgage calculator, the lenders ensure a certain value of property must not exceed the loan. The lenders use this ratio as one of determination factor for qualification on mortgage. The lenders usually ask for seventy percent Loan to Value Ratio. In other words, the borrower pays at least twenty five percent down payment (100% - 75% Loan to Value Ratio). Although the Loan to Value Ratio of this mortgage calculator is default as seventy percent, you can modify to any certain percentage.

Enter values that implies your situation
Gross Annual Income:	$
Monthly Obligations:	$
Actual Interest Rate:	%
Mortgage Term:	years
Annual Property Taxes:	$
Annual Home Insurance:	$
Loan to Value Ratio:	%

Mortgage Calculator Definition of Terms

Gross Annual Income

Contains the total amount of earnings without any deductions such as taxes.

Monthly Obligations

Includes car loan, student loan furniture loan, boat loan, credit card payment, child support, alimony, court judgements, and etc.

Actual Interest Rate

The percentage of an amount of money which is paid for its use for a specified time. For example, 5.25 quotes by lender

Mortgage Term

The number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common

Annual Property Taxes

A tax levied by the local municipality or county on real and personal property.

Annual Home Insurance

The total amount paid for homeowners insurance.

Loan to Value Ratio

The ratio of the amount of your loan to the appraised value of the home.

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Information and calculation provided on this mortgage calculators website is for general purposes only. It is not intended to take the place of advice from your mortgage brokers.