Joint income comes from a combined income stream and tax liability for legally married couples.
Dependents are persons who relies on another person for financial support, usually family members or relatives.
This is your take home pay after all statutory deductions, depreciation, interest, and taxes have been made.
Other net income
Total earnings or profit after subtracting costs of other deductions, the total of which is not based on salary and similar forms of income.
Maximum per cent of income available
This percentage is an approximation of the amount of income available to investors to use against the loan.
A summation of all expenses made against the finances of an individual, including but not limited to rent, clothing, car loans, medical, and mortgage expenses.
Monthly car loan repayment
This is the amount paid to lenders against fulfilling any car loan agreement.
Average monthly credit card repayment
This is the amount paid to lenders against fulfilling a credit card loan agreement.
Any and all other payments and expenses not listed in the calculations, but not included in your annual expenses calculations.
The amount of interest due per period, as a proportion of the amount loaned, deposited or borrowed.
The number of years needed to repay the loan, as indicated in the loan agreement.
Interest rate buffer
An added percentage in addition to your interest rate as a coping mechanism if loan repayments rise.
Approximate amount of loan
An amount that estimates the total loan available to use by investors.
Approximate monthly repayments
An amount that estimates the value of monthly repayments to be made to use by investors to satisfy the loan.
The information provided by this calculator is intended to provide an approximate estimate based on stated assumptions and inputs entered. For more information, read more on Copyright, Legal and Disclaimers.