Home Affordability Calculator

Use this calculator to get an estimate of the property price you can afford. Do not use commas. Remember, this is just a guide. Your actual amount will vary depending on a number of factors. Only a lender can give you a more precise estimate.

Your Data

Gross Monthly Income	$
Monthly Non-Housing Debt	$
Cash Available for Down-Payment	$
Interest Rate	%
Term (In Years)

Results

Max Sale Price	$
Max Loan Amount	$
Max Monthly Payment	$

1. Your gross (pre-taxes) monthly salary must be greater than 33% of the sum of the monthly mortgage and monthly tax payments.

2. Your gross (pre-taxes) monthly salary must be greater than 45% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.

DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.