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Monthly Debt Payments - Worksheet |
This worksheet is to assist you with estimating your total monthly debts excluding your current housing costs (existing mortgage or rental payments). Usually, if Total Monthly Debt Payments exceed 8 percent (10 percent if you have exceptional credit) of your Gross Monthly Income, then your "excess debt" may result in a reduced mortgage amount. Alternatively, you may have to settle for a less expensive home.
Print for your use! Average Mntly Amount
Car Payments $ _______________
$ _______________ Other Loans - 10+ Mos Remaining $ _______________ $ _______________ Average Monthly Credit Card Payments $ _______________ $ _______________ $ _______________ Student Loan Payments $ _______________ HealthCare/Medical Payments $ _______________ Child Support/Alimony Payments $ _______________ Other Payments $ _______________ Total Monthly Debts $ _______________ Gross Mo. Debts X 12 = Annual Debts $ _______________
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