Calculator Inputs
Enter your information below to calculate mortgage scenarios
Home Purchase
Select between 10% and 25% down payment
Monthly Expenses
Monthly (auto: 2.2% annual)
Monthly (auto: 0.95% annual)
Car, cards, loans, etc.
Tax Information
Combined rate includes: Federal + SSI (6.2%) + Medicare (1.45%) + Self-Employment (7.65%)
Include federal, state, SSI, Medicare & self-employment taxes
Bank Statement Loan Scenario
Your current annual taxable income (without showing full qualification income on tax returns)
Legitimate Deductions You Do Not Need to Forego
$0
Potential tax savings on these deductions
Required Income
Based on 45% debt-to-income ratio
Monthly
$0
Annual
$0
At 0.0% combined tax rate
$0
Additional income needed to cover taxes
Monthly
$0.00
Annual
$0.00
Monthly
$0.00
Annual
$0.00
Breakdown:
How This Works
The required income is calculated using a 45% debt-to-income ratio. The gross-up amount shows the additional pre-tax income needed to cover your selected combined tax rate.
Bank Statement Loan Tax Benefits: (1) Save taxes by not needing to report the full qualification income on your tax returns, and (2) Benefit from additional mortgage interest deductions due to the higher interest rate. These savings may offset or exceed the higher monthly payment.
Down Payment & PMI: Bank statement loan rates adjust based on down payment (10%→+1.75%, 15%→+1.25%, 20%+→+0.5%). Conventional loans require PMI when putting down less than 20%; bank statement loans have no PMI.
