Homebuyers shopping for homes in Connecticut can get the most accurate monthly housing payment of PITI, PMI, and HOA using the Connecticut Mortgage Calculator launched by Gustan Cho Associates. Mortgage borrowers no longer have to keep on calling their loan officers to see what their mortgage payments will be. Every time a new home is entered, the housing payment and DTI change due to changes in property taxes and other data. Homebuyers no longer have to worry about depending on their loan officer to see whether going over the debt-to-income ratio limit when shopping for homes. The average median-priced single-family home in Connecticut averages $487,500, which is higher than the national median home price. A homebuyer can have big discrepancies on their monthly.

How To Use Gustan Cho Associates Connecticut Mortgage Calculator

The team at Gustan Cho Associates created, developed, and launched the Connecticut Mortgage Powered by Gustan Cho Associates due to the inaccurate numbers borrowers were getting using online mortgage calculators.  What good is getting a housing payment when the online calculator will just give you principal and interest only. The principal and interest are just two out of four to seven components that comprise the total monthly housing payment. What good is having part and not all of the housing payment? Gustan Cho Associates Connecticut Mortgage Calculator will compute PITI, PMI, MIP, HOA, and last but not least, the debt-to-income ratio.

Gustan Cho Associates Connecticut Mortgage Calculator For PITI, PMI, HOA

The true accurate monthly housing payment is the principal, interest, property taxes, and insurance. Homeowners with living in a subdivision with an HOA or condominium will also have the added expense of having an HOA fee along with their PITI and PMI. We saw this as a major flaw in all calculators.

How Gustan Cho Associates Connecticut Mortgage Calculator Was Created

The Connecticut Mortgage Calculator was created, engineered, developed, and launched by top-producing veteran licensed loan officers at Gustan Cho Associates. Most mortgage calculators may be launched by mortgage industry personnel but the chances are they were not toed to toe with the engineers and/or developers. Experienced loan officers at Gustan Cho Associates and the engineering staff worked for tiredlessly hand in hand for months in creating, developing, and perfecting the Gustan Cho Associates Connecticut Mortgage Calculator. Any imperfections were retested and implemented for the final product. We have worked out all the kinks and are now flawlessly and enjoyed by countless clients.

How To Get Your Front-End and Back-End DTI Using Connecticut Mortgage Calculator

Here are the steps to calculate debt to income ratios:

1. After you have your monthly housing payment, move over to the debt-to-income ratio side of the Connecticut Mortgage Calculator.
2. Enter your monthly gross before taxed income
3. Add the total sum of all monthly minimum payments from all creditors that report to the credit
4. Mortgage underwriters do not include nontraditional credit tradelines to calculate the debt-to-income ratio.
5. Nontraditional credit tradelines are creditors that do not report to credit bureaus such as utilities, cell phone, insurance, internet and cable, and other credit you have on a regular payment agreement
6. All creditors that report to credit bureaus are included in debt-to-income calculations
7. Examples of traditional credit included in DTI calculations are auto payments, student loans, mortgage payments, credit card minimum payments, and any other debts that report to the credit bureaus
8. Take your total housing payment and add the total sum of all minimum monthly payments and divide it by your gross monthly income
9. The calculator will get you your front-end and back-end debt-to-income-ratio
10. The lower DTI of the borrower, the less risk the lender has to take.
11. Therefore, lower risk means lower rewards.

Within seconds, the DTI Connecticut Mortgage Calculator will give your front-end and back-end DTI. Your loan officer will tell you the maximum front-end and back-end DTI allowed on FHA, VA, USDA, Conventional, Jumbo, or non-QM mortgages. The Connecticut Mortgage Calculator Powered by Gustan Cho Associates will get you the most accurate estimated housing payment and your front-end and back

USEFUL LINK:  Mortgage With DTI In Connecticut