# Calculate Your Mortgage Qualification in Less Than 10 Seconds!

You want to calculate your mortgage qualification in less than 10 seconds?! No problem, we're going to show you how!

We get it, time is valuable and you just want to know how much you can qualify for without going through the whole pre-approval process. If you have that expectation, then also expect that the numbers may or may not be accurate. But, we're going to show you how we can quickly give a good general ballpark figure in less than 10 seconds. And keep reading until the end where we reveal another fast shortcut to calculate how much your mortgage payment will be in also less than 10 seconds!

OK, so here’s how we do it. First off, we need to assume a couple of things.

Assume that you have good credit.

Assume that you have no debt.

If you fulfill these 2 assumptions, here's the quick math calculation. There's 2 depending on your down payment.

__If you have less than 20% down payment__: Take your gross pre-tax income and multiply it by 4 - 4.5x. So, if you make $100,000 for example, you'll qualify for approximately $400,000 - $450,000.__If you have more than 20% down payment__: Take your gross pre-tax income and multiply it by 5 - 5.5x. So, if you make $100,000 for example, you'll qualify for approximately $500,000 - $550,000.

Of course, these are ballpark numbers but it gives you a general idea of what you’re working with.

Sometimes, I’m driving and someone will call and ask, "Hey John, $400k mortgage, what’s the mortgage payment. Tell me now!" Instead of saying, "Uhhh I don’t know, let me get back to you when I’m back in the office..." I run this quick calculation in my head… For every $100,000 mortgage, your mortgage payment will be around $400 - $450 per month. So if I’m driving and want to do a quick easy math…$400*4 …that’s about $1,600 per month!

And there you go! We just went over how to figure out the approximate qualifying mortgage amount AND mortgage payments in less than 10 seconds.

If you have more questions regarding mortgage amounts and payments, please reach out to us and we would be happy to assist with your specific scenario!