What Can You Afford?
Pre-Qualifying Checklist

This calculator will help you get a better understanding on the recommended amount of monthly income you should at most spend on a mortgage. In our calculations we also provide you with an estimated mortgage amount based on your desired loan terms.

Annual Gross Income (Before Taxes)

Your annual gross income is the amount of money you earn from all sources of income before taxes are collected.

Monthly Gross Income

Your monthly gross income is your annual gross income divisible by 12. We automatically calculator your monthly gross income based on your annual gross income.

Suggested Monthly Percentage for Long Term Debt

Many financial instutions will agree than Long Term Debt should not exceed 50% of Gross Income. In this calculator we utilize a 45% maximum Long Term Debt when calculating your estimated monthly Housing Expense and Mortgage Amount.

Minmum Monthly Payments (as seen on credit report)
Child Support
Auto Loans
Credit Card(s)
Student Loan(s)
Personal Loan(s)
Other
Minimum Monthly Payments Total

Minimum monthly payments is the sum of various fixed expenses your pay out to each month that are reflected on a credit report. This field is automatically calculated based on the optional fields above (Child support, Auto loans, Credit cards, Student loans, Personal loans, and other).

Adjusted Monthly Housing Budget

Adjustment monthly housing budget is the difference between your initial suggested monthly percentage for long term debt after subtracting for your minimum monthly payments. This field is automatically calculated based on the above fields.

Loan Term
Interest Rate
Calculate Mortgage
Estimated Mortgage Amount

$137,931