How Much House Can You Afford?

These calculators will help you figure out what your mortgage payment might be. See if you can afford to buy a home, or if you should be renting.

Simply complete the fields below and click “Calculate Now.” To see the results of each calculation, click on the various tabs. Email yourself a copy of the results by clicking the “Receive this detailed analysis” link.

Required

Required Must be a number between 1 and 50
Term In Years:
Required Must be a number between 1 and 100
Interest Rate:	%
Required
Cost of Home:	$
Required Cannot be more than Cost of Home
Down Payment:	$
Required
Annual Insurance:	$
Estimate Insurance to 0.43%of Cost
Required
Annual Property Tax:	$
Estimate Tax to 1.2%of Cost
Monthly Income:	$ Required
Monthly Debt:	$ Required

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage
Qualification
Affordability
Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance ( %):
Total Loan(Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Monthly Rent:	$ RequiredMust be a positive number	No. of Years you plan on keeping the home:	RequiredInvalid
Annual Rental Increases:	% RequiredInvalid	Yearly Appreciation on the Home:	% RequiredInvalid
Monthly Renter Insurance:	$ RequiredInvalid	Annual Home Maintenance:	% RequiredInvalid
Savings or Investment Rate:	% RequiredInvalid