Mortgage Calculators: How much can you really afford?

Calculate Your Monthly Mortgage Payment

Fill in the Principal Amount, the Interest Percent (i.e. 6.1), and the number of years. Then press the Calculate button.

 

Principal Amount:	$
Interest Percent:	%
Number of Years:
Your Monthly Payment: (Calculated):	$

 

 

 

How Much of a House Can You Afford?

Getting together a down payment is just the initial part of purchasing a home. Knowing how much of a mortgage payment will fit your monthly budget is another part. The calculators below can help you figure that out.

 

Affordability Calculators
Income Method
Gross Monthly Income
Multiplied by 28% (.28)
Maximum Monthly Mortgage Payment

 

Debt Method
Gross Monthly Income
	x .38
Total of regular monthly debt payments: (car payments, installment loan, etc)
Maximum Monthly Mortgage Payment
Debt method acquired by  (Gross Monthly Income x 36%) - Monthly Debt Payments

 

Estimating Your Monthly Payment
Cost of Home:
Down Payment:
Amount Financed:
Divided by 1000:
Multiplied by Interest Rate @~7%
Estimated Monthly Payment: