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What can I afford?

This calculator does the same calculations that a lender will do to qualify you for a home loan. In addition, it will show you how much of a house payment you can afford based on your income and liabilities.

Loan amount* $
Annual Interest Rate* % (use latest rate on right)
Term in months*
Down Payment %   or  $
Enter monthly gross income* $
Enter monthly liabilities $
Taxes & Insurance Include Taxes (1)
Include Insurance (2)
Debt Ratio: (Override) %(4)
 
RESULTS
Amount financed $
Principal & Interest $
Taxes $ (1)
Insurance $ (2)
PMI $ (3)
Total Monthly payment $
Calculated Debt Ratio %(4)
You can afford a house payment of $ at a Debt Ratio (4) of %, for a loan of $ and a down payment of %.
Notes:
(1) Taxes: Only includes State taxes of 1.026%. Does not include local taxes or assessments such as Mello Roos.
(2) Hazard Insurance: Rate being used is 0.35%.
(3) Primary Mortgage Insurance: This is an insurance premium charged by the lender on loans with less than a 20% down payment.
(4) Debt Ratio = 100 * (House Payment + Liabilities) / Income.
38% is a typical value which will vary from lender to lender depending on the loan market, your credit history, the amount you put down, and other factors.
realtorEqual Housing Opportunity
Phone: 925-759-8301
Email: homes@emilybernardi.com