How Much Home Can I Afford?
To use this worksheet, enter requested information into boxes highlighted in gold. The rest of the worksheet will be calculated automatically. Results are approximate; please consult your mortgage professional for a more accurate result. The financial information you enter on this worksheet will not be retained, transmitted or used in any way.
Enter annual gross income:
for self and any co-borrowers
*
Enter total monthly debt payment not
including mortgage, rent, or utilities
(credit cards, car payment,
child support, alimony, etc.)
*
Enter monthly estimate of homeowner association dues
(condominiums only)
*
Enter desired mortgage interest rate
*
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
9.75
10.00
10.25
10.50
10.75
11.00
11.25
11.50
11.75
12.00
12.25
12.50
12.75
13.00
13.25
Enter total cash available for
home purchase
*
Gross monthly income
Maximum mortgage payment
(Gross monthly income x .28)
Maximum debt load
(Gross monthly income x .38)
Maximum monthly mortgage payment
(Maximum debt load - monthly debts)
Your maximum monthly mortgage payment
Estimated maximum monthly mortgage payment
Estimated maximum loan amount
Estimated Maximum
Home Purchase Price