How Much House Can You Afford?
Estimate a Mortgage Interest Rate
4.0 4.5 5.0 5.5 6.0 6.5 7.0
7.5 8.0 8.5 9.0 9.5 10.0
Choose a Mortgage Term
30 Years 15 Years  
Estimate a Down Payment
5% 10% 20%
Gross Monthly Income
Monthly income before taxes.
No pennies, no commas. $
Monthly Debt Payments
Credit cards, auto loans, etc.
But not utiliites, food, etc. $
Affordable Amounts
$-0- Principal, interest, taxes & insurance.
$-0- Principal & interest, ONLY.
$-0- Maximum mortgage amount.
$-0- Maximum purchase price.
Disclaimer
The above calculations are based upon formulas that are commonly used by lenders for conventional mortgage loans. The formulas used for government guaranteed mortgage loans, (FHA, VA) are different, and allow more buyers to qualify.
This worksheet is only a guide. Contact a mortgage lender or real estate agent for a thorough analysis of your specific situation.
VIRGINIA WRIGHT
Broker Associate
Hook & Ladder Realty Inc.
Ocala  Florida
352-207-7412