House Price Calculator

How much house can you afford? Input the following information and press "Calculate" to determine how much house you can afford to purchase.

To determine an affordable home price, the guidelines of most lenders were followed. A total debt-to-income ratio of no more than 36% was allowed. A housing payment-to-income ratio of 28% (conservative estimate), and 33% (aggressive estimate) was allowed. Before buying, you should also factor in other savings needs, including retirement and college.

Gross Annual Income: $     
Downpayment Amount: $     
*Monthly Debt: $   

*Include auto and student loans, alimony, child support payments and credit card payments.

Mortgage Rate: (%)   
Annual property taxes: $   
Annual homeowners insurance: $   
       
  CONSERVATIVE AGGRESSIVE  
Minimum house price: $      

ASSUMPTIONS: A 30-year mortgage term, annual property tax of $3,500, and the national average homeowners insurance of $481 was assumed. Private Mortgage Insurance (PMI) is not factored in. PMI is owed if the downpayment is less than 20 percent of the purchase price. PMI usually averages from $50 to $80 per month. Plug in your own numbers for more tailor-made results.

Loan Amount: $      
Monthly mortgage payment: $      
Taxes/Homeowners insurance: $      
Total Monthly Payment: $      
    
   


When you're finished doing homework, contact us and we can begin the steps to build your custom home.


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