|Monthly Gross Income||$|
|Monthly Debt Expenses [?]
Monthly Debt and Obligations Should Include:
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
* 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.