How Much Home Can I Afford

Before you start looking at homes, it’s a good idea to find a target price range that you can afford. A mortgage lender will want to make sure you can qualify for the down payment, plus a monthly mortgage payment made up of principal, interest, taxes and insurance (PITI).

Interest rates and your personal finances will influence the amount of house you can afford. For a quick estimate of a monthly mortgage payment for which you may qualify use the following worksheet. Remember, it’s always good to talk to a lender before you start shopping for a home. I can refer you to lenders suited to your specific financial needs.

Calculate Your Mortgage Payments
Use the form below to calculate various mortgage scenarios.
  INPUT INFORMATION Purchase Price: $
Down Payment: $
Annual Interest Rate:  %
Number of Years: yrs
  TOTALS Monthly Payment Before Taxes & Insurance: $     
Monthly Payment After Est. Taxes & Insurance: $     
Calculate Maximum Monthly Payment & Maximum Purchase Price
Use the form below to calculate your maximum monthly payment & maximum purchase price.
  INCOME Annual Gross Income: $
  MONTHLY LONG TERM OBLIGATIONS Child Care: $
Credit Cards/Loans: $
Autos: $
Other: $
  MORTGAGE INFORMATION Down Payment: $
Annual Interest Rate:  %
Number of Years: yrs
  TOTALS Maximum Monthly Mortgage Payment: $
Maximum Purchase Price: $
 AGGRESSIVE TOTALS Maximum Monthly Mortgage Payment: $
Maximum Purchase Price: $