Mortgage Calculator: Maximum Loan Amount

This calculator will help you determine how much home you can afford or the maximum loan amount  you can qualify for.

 

 Income  

 Monthly Salary/Wages:

$  

Other Monthly Income:

$

 

 Monthly Expenses

   

Auto Payment:

$  

Student Loans, Credit Cards and Other Payments:

$

 

 Loan Term and Interest Rate 

Loan Term:

  Yrs

  Interest Rate:

 

%


  

 
 You may qualify for a maximum
  monthly mortgage payment (P+I) of:
$


  You may qualify for a maximum loan
  amount of: (How much house you can afford)


$



     

Step 1 - Monthly Income
Enter your monthly salary/wages before deductions. Enter this amount without commas. (Example: 2000).

Step 2 - Other Monthly Income
Enter any other monthly income/wages you might have. This could be from a second part-time job, child support payments, etc. Enter this amount without commas. (Example 1000).

Step 3 - Auto Payment
Enter your auto monthly payment, if any. Enter this amount without commas.

Step 4 - Student Loans, Credit Cards, Etc.
Enter any other monthly long-term debt that you might have. Enter this amount without commas.

Step 5 - Loan Term
Enter the desired term of your loan. The default value is 30 years.

Step 6 - Interest Rate
Enter the desired interest rate percentage. An average estimate is 7.0%.

Step 7 - Calculate
You will get an estimate of your qualified maximum monthly mortgage payment and the maximum loan amount