Mortgage Affordability Calculator
If you are ready to purchase a new home, you need to figure out how much of a loan you can borrow based on your income. The general rule has been a third of your monthly income, but with the rising costs of housing prices this may be a stretch for some people. Determine how much of a mortgage you can afford by using this mortgage affordability calculator below and assess if you can comfortably pay this payment. Use estimates to fill in the boxes and consult with a mortgage loan professional about your many options. You will have explainations on the right hand side. You can also amortize your monthly payments over time.
See if your income is enough to cover this mortgage
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