LoanCalculator

Contract Gap Mortgage Risk Calculator

Quick Summary

Analyze how time off between assignments impacts your mortgage approval. Enter your typical contract durations and gap periods to see if your annualized income stays above the critical debt-to-income thresholds required by conventional lenders.

Calculator

Your Inputs

$
$

Your Estimates

Monthly Qualifying Income

$11,200

Max Estimated Loan Amount

$797,383

Assumes a 45% DTI ratio

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Frequently Asked Questions

What is the maximum acceptable employment gap?

Most lenders allow gaps of up to 30 days between contracts. If your gap exceeds 30 days, you may need a letter of explanation and proof of liquid reserves.

Does taking the summer off ruin my mortgage chances?

Not if you have a documented history of doing so for the past two years, and your total annual earnings still comfortably cover your proposed mortgage payments.