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How Much Can You Afford?
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Whether you are a first time buyer or a 'Pro' at the home buying process it is always good to know what you can afford and what you want your monthly mortgage investment to be. As you will come to know during the home-buying process there are aspects of that are fun and exciting and others that are stressful. I have provided this calculator to hopefully ease some of the stresses that will come with the territory.
Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link.
Please feel free to contact me anytime!
Andrew Himes, e-Pro, ABR, Realtor
Accredited Buyer's Representative & Certified Relocation Specialist
Weichert, Realtors Collegeville, PA
267.231.8255 (c)
Andrew@AndrewHimes.com
610.409.9911 (o)
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
%): |
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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| Income Needed to Qualify for the Mortgage |
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| Total Monthly Loan Payment: |
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| Total Monthly Debt Payment: |
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| Monthly Loan Insurance (%): |
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| Qualifying Income of
% GDS Ratio: |
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| Qualifying Income of % TDS Ratio: |
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| What You Can Afford |
| We are using the % ratio.
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| Cost of House: |
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| Down Payment: |
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| Loan Value: |
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| Monthly Principal & Interest: |
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| Monthly Insurance: |
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| Monthly Property Tax: |
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| Monthly Condo Fees: |
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| Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate) |
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