Mortgage Calculator: What Can I Afford?
Discovering how much you can afford for a mortgage is the first step in your home buying journey. Our mortgage calculator ‘what can I afford’ helps you make an informed decision…
- Enter your monthly income.
- Enter your monthly debt obligations.
- Enter your desired down payment percentage.
- Select your preferred loan term.
- Click ‘Calculate’.
Our calculator uses the 28/36 rule and considers your debt-to-income ratio to estimate your maximum affordable mortgage…
| Year | 30-Year Fixed | 15-Year Fixed |
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| Year | National | Your State |
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- Consider your long-term financial goals.
- Factor in home maintenance costs.
- Get pre-approved for a mortgage.
What is the 28/36 rule?
The 28/36 rule suggests that you should spend no more than 28% of your gross monthly income on housing and no more than 36% on total debt.
For more information, visit the CFPB’s guide on mortgages and the HUD’s guide on buying a home.