Borrowers shopping for homes in Vermont can use the Vermont Mortgage Calculator powered by Gustan Cho Associates for the most accurate mortgage payment when shopping for homes. Other online mortgage calculators are not accurate. Online mortgage calculators only give principal and interest payments and not the overall full accurate monthly payment based on the individual mortgage loan program. What good is an online mortgage loan calculator if it does not give all the components of the mortgage payment? There are four to eight components to a mortgage payment. The number of components required depends on the loan program, PMI, MIP, VA funding fee, down payment, HOA, property taxes, and homeowners insurance.

Features of Gustan Cho Associates Vermont Mortgage Calculator

The Vermont Mortgage Calculator powered by Gustan Cho Associates Mortgage has the following feature:

• PITI
• PMI
• MIP and/or VA Funding Fee is already populated
• Property Tax
• Homeowners Insurance
• Homeowners Association Dues
• Front-End and Back-End Debt-To-Income Ratio Mortgage Calculator

Gustan Cho Associates Vermont Mortgage Calculator has been perfected to be different than any other online mortgage calculator in the market. No other online mortgage loan approval calculator comes close to the Vermont Mortgage Calculator powered by Gustan Cho Associates Mortgage. Besides the PITI, PMI, MIP, and HOA, the Vermont Mortgage Calculator comes with the Debt-To-Income Ratio Mortgage Calculator to compute the borrower’s front-end and back-end debt-to-income ratio.

How Much Home Can I Afford Versus Qualify in Vermont

Home prices in Vermont are surging more so than in other states in the country. Vermont home prices skyrocketed and were up 9.3% year-over-year in April. Despite the uncertain stock market, skyrocketing inflation numbers, and mortgage interest rates nearing 7.0%, the housing market in Vermont is not making a dent and has no second thoughts about making a housing correction. During this time period, data shows the number of sold homes dropped by 10.6% and the number of homes for sale in Vermont dropped by 18.9%. Homebuyers in Vermont can now compute the most accurate mortgage payment based on the purchase price, down payment, interest rate, property tax, homeowners insurance, HOA dues, and PMI and MIP with no worries whether your calculations were accurate or not. The reason Gustan Cho Associates designed and launched the Vermont Mortgage Calculator with PMI and DTI is that there was not a calculator that had the most accurate numbers for borrowers.

The Most Accurate Mortgage Calculator in Vermont vs the Competition

Most mortgage calculators just have two out of the four to eight components that make the monthly mortgage payment. What good is it if the mortgage calculator only performs two tasks and you need to perform the two to four other tasks to get the accurate monthly mortgage payment? Why not just compute your housing payment manually instead of wasting your time just getting two components of your mortgage payment.

What Makes Gustan Cho Associates Vermont Mortgage Calculator The Best of the Best

After searching for the most accurate online mortgage calculators and finding no luck, the team at Gustan Cho Associates went to work. Most online mortgage calculators only compute principal and Interest and not tax and insurance. Most online mortgage calculators did not have mortgage insurance. Therefore, it was worthless.

Best Vermont Mortgage Calculator With PITI, PMI, MIP, and HOA

The Vermont Mortgage Calculator has everything you need to calculate your monthly mortgage payment. Most online mortgage calculators only give you principal and interest. The Vermont Mortgage Calculator has PITI, PMI,  MIP, TAX, INSURANCE, and HOA. To please users of our calculators, Gustan Cho Associates has created a debt-to-income ratio mortgage calculator that will compute your front-end and back-end debt-to-income ratio in a matter of seconds.

Vermont Mortgage Calculator With PITI, PMI, MIP, and HOA

The first step is to check the box on the mortgage loan program you are applying for. Selections include Conventional, FHA, VA, Jumbo, and Non-QM loans. The reason for this is that the mortgage calculator will populate the PMI, MIP, or VA funding fee on VA loans. Then enter data to all the boxes labeled with information requests. Start with entering the purchase price, down payment, interest rate, and mortgage loan term amortization. The calculator will compute the principal and interest portion of your mortgage payment first. Then enter the rest of the information such as the property tax, homeowners insurance, and homeowners association insurance if applicable to the subject property. You will now see your monthly mortgage payment. Below the payment, you will see the breakdown of your monthly mortgage payment. Now we are ready to move to the debt-to-income ratio component of the mortgage calculators.

Calculate Your DTI Using The Vermont DTI Mortgage Calculator

Let’s now compute your front-end and back-end debt-to-income ratio. The mortgage payment will populate to the debt-to-income ratio mortgage calculator which you will see showing on the first box. You can find what your front-end and back-end debt-to income ratio in just two more steps. Here are the steps to calculate debt-to-income ratios:

1. Total the sum of all monthly minimum payments from all bills which report to the credit bureaus
2. Examples of monthly bills included for debt-to-income calculations are mortgage payments,  auto payments, student loans, credit card minimum payments, and any other debts that report to the credit bureaus
3. Do not include non-traditional creditors such as utility bills, cellular and landline, internet, cable, personal insurance, school/college, and other bills that could potentially report to the credit bureaus
4. Enter the total in the box that says Monthly or Yearly Income
5. The income needs to be the gross pre-taxed income and NOT the net income

You will not see your front-end and back-end debt-to-income ratio and below you will see the parameters on DTI requirements on the mortgage loan program you will be applying for.