Homebuyers can calculate how much their monthly mortgage payment will be using Gustan Cho Associates’s Pennsylvania Mortgage Calculator with PMI and DTI. The PA Mortgage Calculator designed, programmed, and launched by Gustan Cho Associates is the best Mortgage Calculator for Pennsylvania borrowers in the nation. There is no other mortgage calculator in Pennsylvania that is user-friendly and as accurate as the Pennsylvania Mortgage Calculator powered by Alex Carlucci of Gustan Cho Associates Mortgage. The PA Mortgage Calculator is the nation’s most accurate user-friendly mortgage calculator used by loan officers, mortgage processors and support staff, borrowers, realtors, and real estate investors.

USEFUL LINK: Complete Mortgage Guide to FHA Loans in Pennsylvania

Calculate Monthly Mortgage Payments on FHA, VA, Conventional, Jumbo, and Non-QM Loans

The Pennsylvania mortgage calculator with private mortgage insurance and debt to income calculation feature was created, designed, engineered, and launched by veteran experienced top-producing loan officers under the management of Alex Carlucci at Gustan Cho Associates for our borrowers, loan officers, and the public. In this guide, we will walk you through using the Pennsylvania mortgage calculator with private mortgage insurance. We will guide you on how to calculate your debt-to-income ratio using Pennsylvania Mortgage Calculator with Debt to Income Calculator. You will see how user-friendly it is to calculate your debt-to-income ratio on your own.

USEFUL LINK: Buying Home in Pennsylvania for First-Time Homebuyers

Calculate PITI with PMI and DTI Using the Pennsylvania Mortgage Calculator

For people planning to purchase a home in Pennsylvania, one of the most common first-time homebuyer FAQs is what will the monthly mortgage payment be. Many homebuyers got conflicting data from several online Pennsylvania mortgage calculators. Many mortgage calculators did not give the private mortgage insurance numbers while most did not have a debt to income ratio calculator.

USEFUL LINK: Debt To Income Ratio Guidelines

The Best Pennsylvania Mortgage Calculator With Accuracy

Now, launched and passing quality control for any potential malfunctions, the Pennsylvania Mortgage Calculator powered by Gustan Cho Associates is Pennsylvania’s premier mortgage calculator in the nation. You will not get any other mortgage calculator that comes close to the closest estimate of your new PITI with mortgage insurance. The Pennsylvania debt to income ratio calculator will button down your debt to income ratio so you can calculate your DTI without contacting your loan officer.

USEFUL LINK: Pennsylvania Lender Overlays on Debt to Income Ratio

How Much House Can I Afford in Pennsylvania?

Home prices throughout the state of Pennsylvania are surging. Homes in Philadelphia and Pittsburg have the highest-priced home in Pennsylvania. Despite skyrocketing mortgage rates and soaring inflation rates, the housing market in Pennsylvania has no signs of a slowdown and/or a housing correction. It has been a seller’s housing market in Pennsylvania for the past five years. Home prices are surging like never before. Whenever a new home gets listed in Pennsylvania, there is no shortage of bidders. Most homes are under contract within the first 30 days of listing. Homebuyers placing offers higher than the list price is not uncommon.

USEFUL LINK: How Much House Can I Afford in Pennsylvania

Calling Pennsylvania Home | Explosive Population Growth

Pennsylvania is experiencing explosive growth of new taxpayers and businesses migrating to the state due to the strong economy and demand for high-paying jobs. Thousands of families and businesses from high-taxed states such as New York and New Jersey are migrating to Pennsylvania with no signs of any slowdown.

Best Mortgage Loan Programs in Pennsylvania

The Pennsylvania Mortgage Calculator with PMI and DTI will yield mortgage payments on a new home purchase on FHA, VA, conventional, jumbo, and non-QM loans. Every mortgage loan program has its own debt to income ratio caps. The debt to income ratio cap on FHA, VA, conventional, jumbo, and non-QM loans are all different. Non-QM loans are non-prime portfolio loans. Non-prime wholesale mortgage lenders do not have an agency standard they need to follow with regard to debt to income ratio. It is up to every non-prime wholesale lender to set its own non-prime debt to income ratio on non-QM loan programs.

USEFUL LINK: Non-QM Loan DTI Guidelines

FHA Loan Requirements in Pennsylvania 

FHA loans are the most popular loan program in Pennsylvania for first-time homebuyers, borrowers with bad credit, low credit scores, and homebuyers with high debt to income ratio. The maximum debt to income to get an approve/eligible per automated underwriting system for an FHA loan approval in Pennsylvania is 46.9% front-end and 56.9% back-end debt to income ratio. Calculate your debt to income ratio using the PA FHA Mortgage Calculator with DTI calculations.

USEFUL LINK: Pennsylvania FHA Loan Requirements on Debt to Income Ratio

VA Loan Requirements in Pennsylvania

How much house can you afford with a VA loan in Pennsylvania? The Veterans Administration does not have a maximum debt to income ratio cap on VA loans. As long as you have strong residual income, the debt to income ratio on VA loans in Pennsylvania can exceed 60% DTI or higher. Calculate your debt to income ratio using Pennsylvania VA Mortgage Calculator with DTI.

USEFUL LINK: Pennsylvania VA Loan with High DTI

Fannie Mae and Freddie Mac Guidelines on Conventional Loans in Pennsylvania

Fannie Mae and Freddie Mac do not have a maximum front-end debt to income ratio on conventional loans. The maximum debt to income ratio cap on conventional loans in Pennsylvania is 50% back-end DTI. However, to get mortgage approval in Pennsylvania on conventional loans with a 50% debt to income ratio, the borrower needs a credit score of 680 FICO or higher. Most private mortgage insurance companies will not insure PMI for borrowers with a 50% debt to income ratio unless their credit scores are higher than 680 FICO. Lower credit score homebuyers in Pennsylvania can qualify for conventional loans with a 45% debt to income ratio. Use the Pennsylvania Conventional Loan Morgage Calculator with DTI to calculate your debt to income ratio.

USEFUL LINK: Pennsylvania Guidelines on DTI Ratio on Conventional Loans

Jumbo Mortgage Guidelines For Pennsylvania High-End Homebuyers

Any mortgage loan surpassing the maximum conforming loan limit in Pennsylvania is classified as Jumbo Mortgages. Jumbo loans do not have uniform agency guidelines on credit and debt to income ratio caps like government and conventional loans. Each individual Jumbo mortgage lender in Pennsylvania sets its own lending guidelines on its jumbo loan program. There are jumbo mortgage lenders for traditional and non-prime jumbo mortgages. In general, jumbo lenders for full-doc traditional jumbo loans cap debt to income ratio between 40% to 45% for prime borrowers. Jumbo lenders for non-prime jumbo mortgages normally can extend debt to income ratio caps up to 50% DTI. Use the Pennsylvania Jumbo Mortgage Calculator with DTI to calculate your debt to income ratio.

USEFUL LINK: Jumbo Loans With High Debt to Income Ratio

Pennsylvania Housing Market Forecast To Be Bullish into 2025 | Sellers Market

Homebuyers are in demand throughout the state of Pennsylvania. Despite soaring inflation numbers, an unstable stock market, and skyrocketing mortgage rates, the demand for homes remains strong. It is not uncommon for a typical home in Pennsylvania to go under contract for two to three weeks after it gets listed. Sales of single-family homes in Pennsylvania have been strong for the past five years and there is no indication of the slightest correction. Since the coronavirus outbreak in February 2020, the housing market in Pennsylvania has been bullish and is expected to remain strong into 2025.