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This
mortgage - home affordability calculator
will tell you how much of a mortgage loan you can afford to borrow.
Looking for your dream home, but not sure what you can afford? Use this mortgage - home affordability calculator to find out how much you can afford to borrow. When you input your monthly debt expenses, do not include utilities expenses. A lender will not take these into consideration when calculating your allowable mortgage loan amount. Note: If you are self employed, or a substantial portion of your income is based on sales commissions, a lender will likely use an average of the past couple of years of your income when calculating how much you can afford to borrow.
CALCULATE HOW MUCH
YOU CAN AFFORD TO BORROW
Enter your annual income
(before taxes):
$
Enter your total minimum monthly debt payments
(i.e. car loans, student loans, credit cards, alimony, child-support, court-ordered judgements)
:
$
Enter the amount of cash/liquid assets that you are willing to put toward a down payment and up-front loan fees:
$
Enter the desired loan term:
years
Enter the desired interest rate:
%
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