How Much Can I Afford?
See if Your Income is Sufficient to Qualify
Desired Mortgage for New Home
Mortgage Length Years
Interest %
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
 
Summary
Monthly Principal + Interest
Total Houseing Payment (tax & insurance included)
Required Salary

Your salary must meet the following two conditions:

  1. Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.

DISCLAIMER: Calculations by this tool are believed to be accurate, yet are not guaranteed


"Mortgage & Loan"
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