Analyze your real property
Four quick entries, live RentCast data, then the full six-step analysis.
Financial Tools
Financing qualification
Owner-occupant self-sufficiency (must be 1.00 or higher)
You live in one unit, so only the other 3 units count. 75% of their rent must cover the full PITIA payment (principal, interest, taxes, insurance, mortgage insurance and HOA).
Does not qualify at 3.5% down (ratio 0.78). To reach 1.00, put down 26.2% ($183,400), which lowers PITIA to $4,874/mo and needs about $158,900 more cash at closing. Alternatives: negotiate a lower price, buy down the rate, or verify higher rents.
How this purchase affects your monthly life
Lenders judge gross income. You live on take-home pay — so this is the test that matters to you.
Reserves: 6 months of your monthly budget = $29,232, on top of $45,500 for down payment and closing costs. Total savings needed: $74,732. You have $40,000 — short by $34,732.
Borrower: income, credit and payment
Monthly income $12,000 · other debts $500/mo · credit 700
- Credit score700 (≥ 580)
- Front-end DTI (PITIA ÷ income)52.2% (≤ 46.9%)
- Back-end DTI15.7% (≤ 56.9%)
- Reserves after closing$-5,500 (≥ 6 mo budget ($29,232))
Estimates for planning. Final approval depends on the lender, appraisal rent schedule and full underwriting.