How Much Can I Borrow?
To calculate the amount that you may qualify for to borrow, most lenders use a formula called the debt-to-income ratio.
An example of this may be a mortgage company may tell you that your MORTGAGE PAYMENT may not exceed more than 28 percent of your monthly income, and that your total monthly DEBT PAYMENTS, including the your mortgage payment, may not exceed 36 percent of your monthly income.
To begin the process of buying a home, you need to first determine the maximum amount you could qualify for a mortgage. To help you do this use the calculators below as this may help you decide whether you should be considering an upgrade to a larger home, renting a property versus buying or perhaps just refinancing.
Fill in the information requested below and click "Calculate Now".
To view the results of each calculation, click on the various tabs.
Click the "Receive this Detailed Analysis" link and a copy of the results will be emailed to you..