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Affordable Home Calculator


Monthly Income: $
(before taxes)
Monthly Debt: $
(car, credit cards, loans, etc.)
Down Payment: %
Loan Features  
Interest Rate: %
Term: (years)

Annual Taxes and Insurance

Real Estate Tax:
(percent of purchase price)
Homeowners Insurance:
(percent of purchase price)
Condominium Association Fee:$
DISCLAIMER: This is for reference and estimating only. Your actual monthly payment may vary based on other conditions.

Estimated Results

Purchase Price: $
Down Payment: $
Maximum Loan Amount: $
Monthly Payment  
Principal & Interest: $
Real Estate Tax: $
Homeowners Insurance: $
PMI Insurance: $
Condominium Association Fee: $
Total Monthly Housing Expense: $
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How to Use This Calculator

Enter your Monthly Income, Debt, Down Payment percentage, Interest Rate, Loan Term in Years, Real Estate Tax as %, Homeowners Insurance as % and Annual Condominium Association Fee (if applicable) and click "Calculate".

If your down payment is 20% or greater, Lenders will allow your "Monthly Housing Expense" to be 33% of your monthly income or 38% of your monthly income minus your other monthly debt - whichever is smaller. If your down payment is less than 20%, then the ratios are 28%/36%.

Real Estate Tax, Homeowners Insurance, Private Mortgage Insurance (if down payment is less than 20%) and Homeowner / Condominium Association Fees are subtracted from Monthly Housing Expense to determine the maximum "Principal & Interest" payment.

The maximum Principal & Interest payment, Interest Rate and Term of the loan calculates the "Maximum Loan Amount".

The Maximum Loan Amount plus Down Payment equals the "Purchase Price".

You can change the values and recalculate again and again.


  7016 Corporate Way      Centerville, Ohio 45459      937-438-2000
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