How To Use
The modification calculator helps determine any benefit you may receive by adjusting the terms of your existing first mortgage. Most modifications will lower your mortgage payment to 31% of your gross monthly income. This is the percentage that will be used in this example.

The amount of your modification (if eligible) depends on a variety of factors. Your mortgage company or a housing counselor will be able to help you determine any benefits from modification. As such, any results returned by this calculator should only be used as one of many factors in evaluating your options. This calculator returns information based on inputs regarding your existing mortgage information. It is important that you provide accurate information in order to receive more realistic results. Your mortgage company may use different information to determine eligibility and your individual results may vary from the results shown by this calculator.

Your Existing Mortgage Information
Total First Mortgage Monthly Payment This should include principal, interest, taxes, insurance and homeowner's association fees. This calculator is not intended for homeowners with 2 or more mortgages. If you have an escrow account set up on your first mortgage, these costs will be included in your monthly payment. If not, click here and fill in the information below.
Monthly Payment (Principal & interest only)
Annual Property Taxes
Annual Property Insurance
Annual Homeowner's Association (HOA) Fees (If included in your escrow payment.)
Your Income Information
Gross Monthly Income If you are unsure of this amount, click here and fill in the information below.
Your Annual Salary
Spouse or Partner's Annual Salary (If he/she is a co-borrower on your mortgage)
Other Annual Income Before Taxes (For example, investment or rental income, etc.)
Calculate Results

Please Note:
These results have been calculated based on your inputs regarding your existing mortgage information. Your mortgage company may consider additional factors in determining your eligibility and potential savings, which may result in a different payment amount.

Please save this information (as a PDF document) or email it to yourself, so that you may have it as a reference when you speak with your mortgage company or a housing counselor.

Every situation is different. Your mortgage company may use different information to determine eligibility and your individual results may vary from the results shown by this calculator. Contact your mortgage company to determine your exact results and determine if you qualify for this option.

Your Modification Information
Debt-to-Income Ratio	0.0%
Most Modifications Will Lower Your Mortgage Payment To 31% Of Your Gross Monthly Income	31%
Modified Mortgage Payment	Not Applicable as Your DTI is < 31%.
Monthly Payment Reduced By	A Modification may not lower your payment.
You Could Potentially Save This Much Each Year On Your Payments	A Modification may not lower your payment.
Send Calculation Results To Your Email
Enter Your Email Address
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Print/Save Calculation Results To PDF