Fontenot MortgageOdette Fontenot · Mortgage broker
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The loans

The maths

Odette

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Buying

What price can you actually carry?

Most affordability calculators give you a number. The useful part is which of the three limits produced it — your ratios, your other debts, or simply how much cash you have — because only one of them is worth working on.

Illustrative only. Every figure is computed in your browser from what you type. Nothing here is a quote, an offer of credit, an APR or a rate lock, and no result is stored or sent anywhere.

You

If you are self-employed this is not your revenue. Work it out from deposits first.

Car payments, minimum card payments, student loans, child support. Not utilities, food or insurance you already pay.

Excluding what you need for closing costs and reserves, which this does not model.

The loan

7.25%
0.75%

The ratios

31%

Housing costs alone as a share of income.

43%

Housing plus every other debt. Programme maximums vary; these are illustrative starting points, not rules.

Illustrative purchase price

$0

Loan amount
$0
Down payment
0%
Housing budget
$0
Of which principal & interest
$0

The constraint that binds

The three limits, side by side

Front-end allows
$0
Back-end allows
$0
Cash allows a price of
$0
Debts eating the ratio
$0

How the answer moves

Price you could carry, by rateYour current rate

Every other input held still. The slope is the honest answer to “what if rates come down half a point”.

The assumptions, stated.

  • Mortgage insurance is not included in the housing budget, so a low-down-payment answer here is optimistic. The payment calculator adds it back.
  • Closing costs and required reserves are not deducted from your cash.
  • The cash limit assumes a three percent minimum down payment. Non-QM programmes generally want ten to twenty-five.
  • Ratio maximums are inputs here because they genuinely differ by programme. They are not a promise that any lender will go that far.

Ask Odette

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Every field is optional except a name and one way to reach you. I would rather have four honest sentences than a completed form.

One of email or telephone is enough.

Nothing is sent. This demonstration has no backend, no database and no email service. Pressing the button validates the form and shows you the thank-you state, and that is all it does. Nobody will call. There is no consent box here because there is nothing to consent to.

—The other seven

The next step

Numbers are a start. A file is a conversation.

If the calculator says something you did not expect, that is usually worth ten minutes on the phone rather than another hour of typing.

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