Community State Bank will be closed on September 6th, 2010 in observance of Labor Day.
Due to the holiday, ACH and wire transaction dates will be adjusted.
Click here to view the ACH & Wire Holiday Schedule.

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What Can I Afford?


Work through these questions to get a better understanding of what you can afford. As you complete the highlighted boxes, click on the gray boxes to calculate the totals.

Income
Borrowers Gross Monthly Income $
Co-borrowers Gross Monthly Income $
Total $ (a)

Housing Estimate
Principal and Interest payment $
Insurance $
Taxes $
Mortgage Insurance $
(if over 80 percent of loan total value)
Total PITI $ (b)

Monthly Payments
(on revolving and installment debt) $ (c)

Total of (b) and (c): $ (d)

(b) divided by (a) equals housing ratio = %

(d) divided by (a) equals total debt ratio = %

Common standard is 28 percent housing ratio, 36 percent total debt ratio.
Exceptions to the rule depending on the type of loan and credit scores.

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