How Much Home Can I Afford?

How much home can i afford?How Much Home Can You Afford?
Find out with my easy-to-use Affordability Calculator:

Affordability Calculator

Monthly Gross Income $
Monthly Debt Expenses [?] $
Down Payment: $
Interest Rate: %

How it works:
Often lenders will cap monthly housing allowance (including taxes and insurance) by lesser of the two ratios: 28% (from your gross income) and 36% (from your gross income including other monthly debt and payment obligations).

To determine affordability according to these guidelines, simply enter the following values in the affordability calculator.

  • Monthly Gross Income
  • Monthly Debt Expenses
    Include:
    * Monthly Credit Card Payments
    * Monthly Auto Payments
    * Monthly Child Support
    * Monthly Association Fees
    * Other Monthly Obligations, but NOT utility bills.
  • Down Payment
  • Interest Rate

Read my explanation of how Summit County property taxes are calculated.

Note, this affordability calculator is to be used for general purposes only. Please contact me if you need a referral to a good local lender.

More Real Estate Tools and Calculators
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Closing Cost Estimator