How to Calculate Your Home Affordability

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Using the simple calculator above will allow you to calculate how much you can afford. It’s important to note that this calculator will not take into consideration your new utility costs or property taxes. It is a very plain calculator that will give you a general idea of what you can afford. Your bank or mortgage agent will be able to give you a better idea of what you can afford based on your income, credit score and other factors.

Step 1

Insert a monthly payment you think you can easily achieve.

Step 2

Insert the going interest rate

Step 3

Choose the amount of years for your repayment period.

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Comments

One Response to “How to Calculate Your Home Affordability”

  1. Rebecca on May 16th, 2008 11:24 am

    I am noticing your calculator on this post isn’t working. You can find a calculator that gives a good estimate of how much you can afford here:
    https://www.quickenloans.com/mortgage-calculator/home-affordability

    Also, this calculator takes into account your insurance and taxes, so don’t forget to include this amount, in your monthly payment estimate, or you may findyourself with a higher loan amount than you expect!

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