How Much House Can You Afford (using a Fixed Rate Mortgage) Int Rate:
To Spend This Amount on a House…
6.5
You Need At Least This Gross Monthly Income…
Fixed Term
To Cover This Monthly Housing Expense…
30 PMI
Other Monthly Debt Payments Should Not Exceed…8% of income RE Taxes & Insurance = 1.825% of sale price And You Need at Least This Much Cash… For the Down Payment Lenders Are Likely to Require… And the Closing Costs (4% of loan amount)
$800,000 $600,000 $500,000 $400,000 350,000 300,000 250,000 200,000 150,000 100,000
$21,404.92 $16,053.69 $13,378.07 $10,702.46 $9,364.65 $8,026.84 $6,689.04 $5,705.72 $4,279.29 $2,901.49
$5,993.38 $4,495.03 $3,745.86 $2,996.69 $2,622.10 $2,247.52 $1,872.93 $1,597.60 $1,198.20 $812.42
0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.79 0.79 0.79
$1,712 $1,284 $1,070 $856 $749 670 560 475 355 240
1,216.67 912.50 760.42 608.33 532.29 456.25 380.21 304.17 228.13 152.08
$108,800 $81,600 $68,000 $54,400 $47,600 $40,800 $34,000 $17,600 $13,200 $6,880
$80,000 $60,000 $50,000 $40,000 $35,000 $30,000 $25,000 10,000 7,500 3,000
$28,800 $21,600 $18,000 $14,400 $12,600 $10,800 $9,000 $7,600 $5,700 $3,880
How Much House Can You Afford (using a Variable Rate Mortgage) Current Rate 3.9
To Spend This Amount on a House… You Need At Least This Gross Monthly Income…
Minimum Rate 3.5
Max Rate 9.9
Fixed Term 30 PMI
Other Monthly Debt Payments Should Not Exceed…8% of income 0.53 0.53 0.53 0.53 0.53 0.53 0.53 0.79 0.79 0.79 $1,378 $1,033 $861 $689 $603 670 560 475 355 240 RE Taxes & Insurance = 1.825% of sale price And You Need at Least This Much Cash… For the Down Payment Lenders Are Likely to Require… $80,000 $60,000 $50,000 $40,000 $35,000 $30,000 $25,000 10,000 7,500 3,000 And the Closing Costs (4% of loan amount)
To Cover This To Cover This To Cover This Monthly Housing Monthly Housing Monthly Housing Expense… Current Expense… Low Expense… Max Rate Rate Rate
$800,000 $600,000 $500,000 $400,000 350,000 300,000 250,000 200,000 150,000 100,000
$17,220.03 $12,915.02 $10,762.52 $8,610.01 $7,533.76 $6,457.51 $5,381.26 $4,587.87 $3,440.91 $2,330.80
$4,821.61 $3,616.21 $3,013.50 $2,410.80 $2,109.45 $1,808.10 $1,506.75 $1,284.60 $963.45 $652.62
$4,654.97 $3,491.23 $2,909.36 $2,327.49 $2,036.55 $1,745.62 $1,454.68 $1,239.96 $929.97 $629.83
$7,708.71 $5,781.53 $4,817.94 $3,854.36 $3,372.56 $2,890.77 $2,408.97 $2,053.63 $1,540.22 $1,045.23
1,216.67 912.50 760.42 608.33 532.29 456.25 380.21 304.17 228.13 152.08
$108,800 $81,600 $68,000 $54,400 $47,600 $40,800 $34,000 $17,600 $13,200 $6,880
$28,800 $21,600 $18,000 $14,400 $12,600 $10,800 $9,000 $7,600 $5,700 $3,880