How Much Home Can you Afford?
It’s always a good idea to crunch the numbers before looking at homes. Here is a simple calculator which calculates your monthly gross income, monthly debt expenses, the amount of your down payment, and an estimated interest rate to give you an estimate of how much home you can afford. This will give you an idea of home price and what your monthly payment will be. The higher your debt to income ratio is, the less home you’ll be able to afford.
|Monthly Gross Income||$|
|Monthly Debt Expenses [?]
Monthly Debt and Obligations Should Include: