I am sorry to tell you computer types that there is no way to build a spreadsheet to find out how much loan you qualify for. A loan approval is much more complicated than just the ratios of debts to income.

To put it very bluntly, does it make sense that just because they make the same amount of money & have the same debt load a "flake"could get the same amount of loan or as good an interest rate as a person who has been on their job 30 years, has never made a late payment in their life and has a gazillion dollars in the bank?

There is no way to completely qualify you by computer BUT we are working on a method to allow you to plug in your income and debts and then our program will add the appropriate taxes and insurance based upon the area of town you are looking. This would tell you your qualification levels based solely upon the financial ratios.

BUT KEEP IN MIND THAT FINANCIAL RATIOS ARE LESS THAN HALF OF THE QUALIFYING PROCESS! Your address, job, income and credit stability factors have more to do with the loan type and loan amount you can be approved for than anything else.

To understand what Qualifying is all about, see Underwriting Guidelines.

Another good section to look at is Amusing Qualifying Grids. I took some off-the-wall loan amounts and worked full PITI qualification figures. Once again these are based solely upon income and outgo alone and therefore are not totally accurate, but they will give you an idea of the income & debt loads needed to qualify. To balance the equation I also included grids of some more normal loan amounts.

For now we are doing EVALUATIONS the old fashioned, but accurate way. If you will give us a call and allow 30-90 minutes we can step you thru the complete process.

The advantage to this system is that, if we also pull your credit, it takes into consideration ALL the variables an Underwriter will look at and gives you a qualification figure that is very accurate and not just the "ballpark" guesstimate you get from a PQ.

It's kinda fun and you'll learn a lot!