Affordability Calculator

Affordability Calculator: Monthly budget plan for housing expensesThe affordability calculator will help you to determine how much house you can afford. The calculator tests your entries against mortgage industry standards to determine the highest priced house you can qualify for, along with the down and monthly payments you would need to make in order to sustain homeownership.

 

Begin by clicking in the first entry field and follow the instructions that appear in the Help box.

 

Please note that this calculator requires that you place a minimum downpayment of 5% of the mortgage. It is wise to consider all your financial obligations when determining how much you can afford.

 

Once you have a better idea of how much house you can afford, here are some helpful links for your next steps:
Why to use a Realtor®Find a Realtor® | Advice for Buyers | Advice for Sellers

Gross annual income ($): Explain/Instruct
Monthly debt payments ($):
Down payment ($):
Annual interest rate (%):
Monthly insurance ($):
Monthly property tax ($):
Length of the mortgage:
Net down payment: Explain/Instruct
Loan amount:
Home price:
Monthly payment:

Disclaimer: These calculators are for information purposes only. Consult a financial professional for further advice.