Modification Evaluator

Use this tool to determine if you may be eligible for the Home Affordable Modification. Simply enter your current monthly gross income. 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. Please be sure to read the notes below for further information.

Modification Evaluator for Home Affordable Mortgage Modification

	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

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.

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