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Since you already have \$2,000 in monthly debt payments at 25% DTI, you can determine how to get to a DTI of 35%, which means you increase this amount to \$2,800. In this scenario, a comfortable monthly mortgage payment would be \$800 per month (\$2,800 – \$2,000).

To determine how much house you can afford, use this home affordability calculator to get an estimate of the property price you can afford based upon your income and debt profile. Generally, lenders cap the maximum monthly housing allowance (including taxes and insurance) to lesser of Front End Ratio (28% usually) and Back End Ratio (36% usually).

Generally speaking, most prospective homeowners can afford to finance a property that costs between 2 and 2.5 times their gross income. Under this formula, a person earning \$100,000 per year can afford a mortgage of \$200,000 to \$250,000. But this calculation is only a general guideline.

Use our mortgage affordability calculator to determine how much mortgage you can afford based on your income, debt levels, and living expenses.. mortgage payment The monthly mortgage payment is calculated based on the inputs you provided: the mortgage amount, rate type (fixed or variable.

Home Price Affordability Calculator To get that number back down to a monthly housing budget of \$1,250, you’ll need to lower the price of the house you can afford to \$172,600. Use the calculator to try out other combinations to find the right mortgage amount, interest rate and down payment combo that will work for your budget. 4. Factor in homeownership costs.

Use the helpful realtor.com mortgage calculator to estimate mortgage payments quickly and easily. View matching homes in your price range and see what you can afford.