Mortgage Calculator Tutorial: How to Use It for Loan Approval

Learn how to use this powerful mortgage calculator to analyze payments, down payments, and qualification ratios!

In this video, I walk you through my custom mortgage calculator that's perfect for real estate agents, buyers, and loan officers. It's simple to use but gives accurate insights into monthly payments, down payments, and critical debt-to-income ratios for government (FHA/VA) and conventional loans.  

What You'll Learn:

• Key Ratios Explained: Government limits (45% housing, 55% total debt) vs. conventional (39%/43%). Think of your income as a chocolate cake—ratios are just the slice for housing and debt!  
• Inputs Made Easy: Property price, down payment (3.5% FHA, 0% VA, 5%+ conventional), interest rates, loan terms (15-30 years).  
• Real Examples: $400K home at 4% interest—see PITI (principal, interest, taxes, insurance) + MI/HOA breakdowns. Adjust for 20% down to skip MI on conventional loans.  
• Qualification Check: Calculate required monthly income (hourly/bi-weekly formulas), add consumer debt (cars, cards, students), and test scenarios. Rental income? Use 75% for vacancies/repairs.  
• Closing Costs & More: Estimates for fees, reserves, plus amortization schedule and open house flyers.  

Disclaimer: This tool provides accurate estimates but doesn't replace professional advice—always consult your loan officer for financing questions. 

⏰ Timestamps:

• 0:00 Intro & Disclaimer
• 0:30 Ratios Explained (Government vs Conventional)
• 2:00 Calculator Demo: $400K FHA Example
• 5:00 Income Calculations & Debt Scenarios
• 8:00 Advanced Tips (20% Down, HOA, Rentals)
• 10:00 Closing Costs Breakdown

Perfect for: Real estate pros, first-time buyers, loan pre-approval checks!

👉 Download the calculator: Link below
📞 Questions? Call/Email me or your loan officer!
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