How Much Can You Afford?

This calculator provides an estimate of the maximum mortgage loan a prospective Buyer can expect to get from a bank or other lending institution. The estimate is based on the Buyer's annual income, monthly expenses entered below, plus national averages for living expenses. The mortgage loan estimate is added to the Buyer's down payment to estimate the maximum this Buyer can pay for a home.

1. Click "Start" to see an example
2. click "Reset" to set everything to zero
3. Enter information for your prospective Buyer.

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Buyer's Gross Annual Income (please no commas, periods or $ signs)		$
Buyer's Monthly Long Term Obligations  (Unavoidable recurring bills listed below.  Program makes statistical assumptions about all other expenses)
Automobile
Alimony / Child Support
Credit Cards
Student Loan
Other long term debt
Total monthly Long Term Obligations
Down payment as a % of sales price: 3 % 5 % 10% 15% 20% 25% 30%
Current Interest rate: 5.25% 5.5% 5.75% 6.00% 6.25% 6.50% 6.75% 7.00% 7.25% 7.50% 7.75% 8.00% 8.25% 8.50% 8.75% 9.00% 9.25% 9.50%
Estimated max. the Buyer can afford to pay for a house:		$
Estimated max. 30 Yr. mortgage loan the buyer can expect:		$
The above numbers are for a conventional mortgage, Buyers qualifying for VA or FHA loans might get larger mortgage loans.