Loading
Estimate your practical home-buying budget from income, debt, and monthly costs.
How This Is Calculated
1) Max Housing Budget = (Gross Income x 32%) - Monthly Debt
2) Max Mortgage Payment = Max Housing Budget - Property Tax / 12 - Monthly Fees
3) Max Loan = PMT x ((1+r)^n - 1) / (r x (1+r)^n)
4) r = 0.004083 and n = 300
5) Max Home Price = Max Loan + Down Payment = $281,628 + $90,000 = $371,628