How Much House Can I Afford?

What will your mortgage amount be?

Tell us how much is your income, how much you've got for a down payment, and your debt, then find out how much you can budget for home hunting.


Gross Annual Income: $ 
Monthly Car Payment: $ 
Monthly Credit Card Payment: $ 
Other Monthly Payments:
(student loan, alimony, etc) 		$ 
Planned Down Payment: $ 
Mortgage Rate: % 
Loan Term:


RESULTS
  Conservative Aggressive
Affordable House
Price:		 $ 
Planned Down Payment: $ 
Loan Amount: $ 
Monthly Mortgage
Payment:		 $ 
Property Tax: $ 
Home Owner's Insurance (HOI): $ 
Private Mortgage Insurance (PMI): $ 
Total Monthly Payment: $ 
HOME AFFORDABILITY
About this calculator:

Affordable Price: To arrive at an "affordable" home price, we followed the guidelines of most lenders. We've allowed a total debt-to-income ratio of no more than 36% for our conservative estimate and 38% for our aggressive estimate.

We have assumed a housing payment-to-income ratio of 28% for our conservative estimate and 33% for the aggressive one.

Before buying, however, you should also factor in other savings needs, including retirement and college.

Assumptions: We have assumed an annual property tax of $3,500 and homeowners insurance of $481 -- the national average. And we do not factor in private mortgage insurance, which you'll owe if your downpayment is less than 20 percent of the purchase price. It averages from $50 to $80 per month. Plug in your own numbers for more tailor-made results.