Find out how much you can afford to borrow with NerdWallet’s mortgage calculator. Just enter your income, debts and some other information to get NerdWallet’s recommendation for how big a mortgage.
To get that number back down to a monthly housing budget of $1,250, you’ll need to lower the price of the house you can afford to $172,600. Use the calculator to try out other combinations to find the right mortgage amount, interest rate and down payment combo that will work for your budget.
Finally, keep in mind how much you can afford to borrow without putting the rest of your financial plans on hold. This can help you build a stronger future, because you’ll be better informed and better equipped to be a successful homeowner.
Tell us a little about your finances and the type of property you're looking to buy. This home affordability calculator will help you understand how.
How much house can I afford with my salary? This page was made for people making $100,000 a year and want to know how much house they can afford. If your yearly salary is different, check out this page. Don’t waste your money! Make your $100,000 go further! We have lots of good tips on how to NOT waste your money.
If you want to do the calculation manually, let’s look at five ways to calculate how much house you can afford, beginning with a standard rule of thumb. 1. multiply Your Annual Income By 2.5 or 3
Enter your information into fields below and click "Compute" to learn what your monthly housing payment might be based on your income and monthly financial .
It’s best to submit your loan application and let us give you a FREE ANALYSIS before you start house hunting to find out how much house you can afford. A FREE ANALYSIS of your credit & debt to income.
· The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That’s a $120,000 to $150,000 mortgage at $60,000. You also have to be able to afford the monthly mortgage payments, however. Lenders want your principal, interest,
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