| Gross income of major wage earner per year | $40,000 |
| plus Gross income of Spouse per year | $20,000 |
| plus other income per year | $5,000 |
| = Gross family income (GFI) per year | $65,000 |
| Gross dept service (GDS)= 30% of GFI | $19,500 |
| minus yearly property tax | $3,000 |
| = Principle plus Interest per year | $16,500 |
| /12 = Principle plus Interest per month | $1,375 |
| Monthly payment per $1,000 Mortgage (Amort. 25 y) | Annual Interest Rate % |
| 7.01 | 7.00 |
| 7.16 | 7.25 |
| 7.32 | 7.50 |
| 7.48 | 7.75 |
| Principle plus Interest per Month / Mtly payment per $1,000 Mortgage x 1000 = | $192,039 |
| P + I + Tax + All othe payments / Income = | must be less than 42 % to qualify |
| $1,375 + $259 + $500 (car) + $1,000 (child support) / ($65,000 / 12) | 58 % |
| Max. mortgage qualified for satisfying GDS & TDS is $192,039 x 42 / 58 = | $139,063 |
| Down Payment Required 10% of $139,063 = | $13,906 |
| Max. Purchase Price of Home qualified for with min. down payment of 10% = | $152,969 |
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