House Affordability Calculator

Interest Rate : 8.00% House Price

Payment Period (Year) : 15
104,640.59
Expected Monthly Payment : 1,000.00

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 House Affordability Calculator

Income and Debt Expenses House Price

Gross Monthly Income : 5,000.00
100,000.00
Monthly Debt Repayment : 500.00

Budget Actual
Down Payment and Closing Cost : 15,000.00 Down Payment : 10,000.00
Closing Costs : 5,000.00
Monthly Payment : 1,000.00 Monthly Payment : 660.39
Monthly Housing Costs : 120.00 Monthly Housing Costs : 120.00
Total Monthly Payment : 1,120.00 Total Monthly Payment : 780.39

Mortgage Plan
Interest Rate : 8.00% Maximum Mortgage : 90,000.00
Payment Period (Year) : 30

Qualification
Closing Costs : 5.00%
Minimum Down Payment Required (%) : 10.00%
Maximum Debt Repayment Allowed (%) : 33.00%
Maximum Housing Expense Allowed (%) : 28.00%

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