Mortgage Calculator Definition of Terms
Gross Annual Income
Contains the total amount of earnings without any deductions such as taxes.
Includes car loan, student loan furniture loan, boat loan, credit card payment, child support, alimony, court judgements, and etc.
Annual Property Taxes
A tax levied by the local municipality or county on real and personal property.
Annual Home Insurance
The total amount paid for homeowners insurance.
The ratio of the amount of your loan not to exceed mortgage payment.