Affordability Calculator
Input your budget information below to calculate a monthly mortgage payment you can afford.
Please note: If you do not enter expenses, your results may not be accurate.
Add expenses Continue without expensesPlease note: If you do not enter expenses, your results may not be accurate.
Add expenses Continue without expensesYour debt may exceed the recommended values at this time. Learn more in our article What you make vs. what you owe or contact a Lending Specialist for additional information.
Based on your inputs, your debt and expenses exceed your income at this time. Please contact a Lending Specialist for additional information
(includes principal, interest, taxes, insurance and HOA fees)
When you're thinking about buying a new home, ask yourself, "How much should I borrow?" instead of, "How much could I borrow?" It's an important distinction: Rather than focusing on the largest loan amount you could possibly get from a mortgage. This approach focuses on the amount that fits your budget.
Review your debt and expenses to determine whether reductions are possible.
This scenario is based on the recommended maximum payment you could comfortably afford if you reduce your expenses by 0 $.Review your expenses to determine whether reductions are possible.
This scenario is based on the recommended maximum payment you could comfortably afford if you reduce your debt by 0 $.Review your debt to determine whether reductions are possible.
How is this calculated?
Based on industry standards, your debt-to-income ratio (DTI), which is comprised of your monthly mortgage payment plus any existing monthly debts, is recommended to be 36% or less of your gross monthly income, and your mortgage payment is recommended to be 28% or less of your gross monthly income.
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This is for illustrative purposes only and is based upon the information you provide. Accuracy is not guaranteed.
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This is for illustrative purposes only and is based upon the information you provide. Accuracy is not guaranteed.