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Here's how that works: let's say you make $72,000 per year or $6,000 per month. This means you should limit your budget to spending $1,680 per month on housing ... Buying a house requires a budget. You can only afford to spend so much on your monthly mortgage payments. Your loan amount and down payment will determine how ... Your income, assets, obligations, and liabilities are all considered carefully. Use this calculator to estimate the amount of mortgage you may be able to ... This tool calculates the maximum home price and mortgage loan that you may be able to afford for a given down payment, loan-to-value ratio, and total monthly ... This rule asserts that you do not want to spend more than 28% of your monthly income on housing-related expenses and not spend more than 36% of your income ... You can afford a home worth up to $336,480 with a total monthly payment of $1,750 · LOAN & BORROWER INFO · TAXES & INSURANCE · ASSUMPTIONS. Debt-to-income ratio. Mortgage affordability calculator. Get an estimated home price and monthly mortgage payment based on your income, monthly debt, down payment, and location. Find ... This home affordability calculator looks at your entire financial situation to help you determine how much you can realistically spend on the home of your ... Dec 26, 2024 ... Take monthly gross and multiply by .28 thats the lower limit before you are housepoor, which is what i figure calcs are mathing to. Upvote 1 Using a percentage of your income can help determine how much house you can afford. For example, the 28/36 rule suggests your housing costs should be limited to ...