This calculator provides a good idea about what monthly reduction you might be eligible for on your primary mortgage payments, in accordance with the Making Home Affordable program. Under the Home Affordable Modification program, the target maximum amount for your mortgage payment (or mortgage debt-to-income) should be 31% of your gross (pre-tax) monthly income.

This Payment Reduction Estimator will determine what your current mortgage debt-to-income is and how much your monthly payment may be reduced if you qualify for a modification.

Do not include any payments on your second mortgage. You may have taxes and interest in escrow added to your monthly payment already, so be careful to count taxes and escrow only once.

Total Monthly Payment on Your First (or "primary") Mortgage Be sure to INCLUDE principal, interest, taxes, insurance and homeowners association dues if applicable. If you need help, click here.
Enter Your Gross Monthly Income This is the income of all borrowers who signed your mortgage BEFORE taxes and any adjustments. If you need help, click here.
CALCULATE
This is Your Current Debt-to-Income (DTI) Level		%
Target DTI under the Home Affordable Modification		31%
Potential New Monthly Payment If You Qualify		$
Potential Monthly Payment Reduction If You Qualify		$

Note: to protect your privacy, this site will not record your information.

Related posts:

1. Simple Loan Modification Evaluator
2. What Can I Expect If I Get Approved For A Loan Modification
3. My Mortgage Is Not Behind – Can I Still Get A Loan Modification?

This tools provides a simple and quick guide to see if you are eligible for the Home Affordable Modification Program (HAMP) as outlined by the Obama Administration. Enter your current monthly gross income into the form, and then click on the Calculate button. The tool will calculate a mortgage payment guideline amount. If your current mortgage payment is above this amount and you meet the other Home Affordable Modification guidelines, then you may be eligible.

Remember that the process has changed considerably over the last several months, so to be sure about your options we do encourage you to use our FREE Evaluation service.

Enter Your Gross Monthly Income This is the income of all borrowers who signed your mortgage BEFORE taxes and any adjustments.     Mortgage Payment-to-Income Guideline   31% Mortgage Payment Guideline   CALCULATE If your current mortgage payment is above the amount shown in the Mortgage Payment Guideline, then you may be eligible for the Making Home Affordable Loan Modification Program. Remember there are other programs, and things are changing everyday. If you want a thorough FREE review of your options, then relize we provide this here.

ADDITIONAL NOTES
Gross Monthly Income: is the total income of all borrowers who signed your mortgage before any taxes or other deductions are made. If more than one person signed your mortgage, such as your spouse or a co-signer, add the gross monthly income of all borrowers and enter this amount.

Mortgage Payment: is defined as what you pay on a monthly-basis for principal, interest, property taxes, hazard insurance and homeowner’s association fees, if applicable. Please include information about your first (or “primary”) mortgage only. Do not include any payments on your second mortgage. You may have taxes and interest in escrow added to your monthly payment already, so be careful to count taxes and escrow only once.

Mortgage Payment Guideline: this is calculated as 31% of your current monthly gross income. If your current monthly mortgage payment is above this amount, you may be eligible for the Home Affordable Modification.

Privacy Note: to protect your privacy, this site will not record your information.

Related posts:

1. Payment Calculator For Loan Modification Reductions