How Much House Can I Afford?

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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:    30 yrs    25 yrs    20 yrs    15 yrs    10 yrs   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.