Mortgage Affordability Calculator

Buying a real estate property and choosing the right mortgage are tasks that should be thought through and planned out carefully. A real estate property is usually the most expensive and important investment in one's life. By using our mortgage affordability calculator, we can estimate on the type of homes you can afford based on your monthly income streams and expenses. With our calculator, we can generate a detailed mortgage affordable report for your immediate and future reference.

Using the Mortgage Affordability Calculator

There are several information we need from you in order for us to determine the types of mortgage you can afford. Please pay close attention to every single piece of information described below.

• Down Payment - The amount of money you have saved that you are willing to put in as the down payment towards to your home and mortgage.
• Estimated Interest Rate - The mortgage loan interest rate offered by your financial institute. This rate is different per lender and is location dependent.
• Estimated Property Tax - The estimated property tax you need to pay for your real estate. This is calculated based on a percentage of the value of your home and its location dependent as well. For example, property tax in the city is often more expensive than in small towns.
• Estimated Insurance per Month - Estimated property insurance you need to pay on a monthly basis. This amount is determined by your home insurance provider and depends on various factors such as the coverage you need, payment types...etc.
• Monthly Salary after Tax - The amount of income (cash value) you have per month.
• Food, Transportation, Entertainment, Education, Healthcare, and Technology expenses per Month - The amount of money you need to pay on food, transportation, entertainment, education, healthcare, and technology for your household on a monthly basis.
• Other Expense per Month - For any other type of expense not described above, include the total value here.
• Savings per Month - The amount of money you plan to save a month.

With your input on monthly financial income and expense, our system will be able to generate a detailed report showing you more than 18 types of mortgage you can afford with a break down into the home value, interest, and investment comparison chart for different loan terms. Please note that the mortgage affordability report is only meant to be used as a reference.