Mortgage Loan Amount Calculator

What is your annual household income before taxes?
How much down payment are you planning to make?
Mortgage Rate: %
Length of loan (In Years):
 
 
You can afford a monthly payment of up to
You can therefore buy a house of up to
 
Explanations:
  • Note: This calculator uses the common banking figure of 28% when calculating how much of your income can be spent on housing. This figure may be higher or lower depending on the amount of debt you are carrying, the area of the state you are buying housing in, and other factors. Please contact your banker for more information.
  • Before Tax Income is the total of all your income before taxes. In this calculator you may use either your monthly income or your annual income. (Any number less than 10000 would be considered a monthly income figure.)
  • Down Payment is the amount of the down payment you have already saved.
  • Mortgage Rate is the interest rate the bank would charge you for your loan. In this calculator, you do not have to include the % sign.
  • Number of Years is the length of the mortgage you are considering.
  • Calculate: When you press the Calculate button, the calculator will calculate the amount of housing you can afford.