GMAC Mortgage Home Page Access Your Account Apply Online ...anytime Site Map
1-800-GMAC-MTG
(1-800-462-2684)
Direct (248) 273-0614
Home
Company Information
How Can We Help You?
Program Features and Highlights
Access Your Current Account
Mortgage Building Blocks
Calculators
Borrowing Power
Mortgage Payment
Refinance
Home Equity
Product Offerings
 Calculators Calculators
Borrowing Power Calculator

Use this estimate as a guide for how much you may be able to borrow.
Your income:
Your monthly income (before taxes):
Co-borrower's monthly income:
Other income *:
 
* Alimony, child support or separate maintenance income need not be revealed unless you want to have it considered as a basis for repaying the loan.


Your current monthly debts **:
Auto Loans
Student Loans
Credit Cards
Other Loans
 
** Installment loans with fewer than 10 months remaining need not be reflected.
 
 
The approximate maximum monthly housing
payment you may qualify for is:

The maximum payment shown would include principal and interest to repay the loan plus monthly costs for taxes and homeowners insurance. It may also include private mortgage insurance. A real estate agent or your GMAC Mortgage representative can help you translate this into a loan amount based on the average cost in your area and current interest rates.

Hoping to borrow more?

Our calculator is based on a 38% allowance for debt as a percentage of income. But this allowance can be higher or lower depending on the type of loan that works for you. Use this calculator as a guide, but don't assume that a slight difference in price will mean you can't qualify.

How to increase your borrowing power!

Increasing your income certainly helps (easy, right?). Another way is to pay off large debts, such as credit card balances or car loans. In addition, we offer a lot of first time buyer programs (not all just for first timers) that can increase your borrowing power.

© Copyright 2000 GMAC Mortgage Corp. All rights reserved.