Mortgage Qualifier Calculator

How much of a mortgage do I qualify for?

The mortgage qualifier calculator can help you work out how much of a mortgage you qualify for.  All you need to do is enter:

  1. Gross monthly income for yourself and the joint applicant (if any)
  2. Your monthly debt/loan payments e.g. for a car or credit card
  3. The mortgage term(e.g. 10 years)**
  4. The mortgage rate (e.g. 8%)
  5. 20% of member's shares must be unencumbered.

The calculator will then provide you with the total mortgage amount for which you will qualify.

Please note that results are for illustration purposes only.  Actual figures may vary for individual cases and depend upon a number of assumptions and factors, which may change.

** CECU provides its members with short term mortgage financing for periods not exceeding ten (10) years.  Through our strategic alliances with Trinidad and Tobago Mortgage Finance (TTMF) and Home Mortgage Bank (HMB), CECU is also able to provide its members with an array of mortgage options.

Mortgage Policy Brochure.

Income

Enter Your Gross Monthly Income (before deductions e.g. 6000):
(Do not use commas.)

$

Enter Joint Applicant's (if any) Gross Monthly Income (before deductions e.g. 6000):
(Do not use commas.)

$

Total Income

$
 

Debt

Enter Monthly Car Loan Payment(s) (e.g. 1000):
(Do not use commas.)

$

Enter Monthly Credit Card Payment(s) (e.g. 1000):
(Do not use commas.)

$

Enter Any Other Monthly Loan Payment(s) (e.g. 1000):
(Do not use commas.)

$

Total Debt

$

Mortgage Terms

Enter Mortgage Term in Years (e.g. 10):
(**The mortgage term can be no more than 10 years for a CECU mortgage and no more than 30 years for a mortgage through TTMF or HMB.)

 

Enter Mortgage Rate % (e.g. 8):

%

*Mortgage Amount You Qualify For:

$

*Based on a total debt service ratio (TDSR) of 40%.