Affordability Calculator

Use the calculator below to give you an idea of how much of a mortgage you can afford. However, it is meant to be a guideline, not a rule.
 
Desired mortgage amount:
Mortgage length (in years)
Interest %
Annual property tax
Total monthly payments not including mortgage (car, loans, credit cards, etc).
 

Summary
 
●;
Monthly Principal + Interest
●;
Total Monthly Obligations
●;
Required Salary

Listed below are the basic guidelines of how our industry determines how much of a mortgage payment you qualify for.

 
 
1. Your gross (before taxes) monthly salary should be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
 
2. Your gross (before taxes) monthly salary should be greater than 36% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.