The Gina Howarth Team
Re/Max 1ST Choice
980 Reservoir Av.
Cranston, RI 02910
401 943-6111x219 Office
401 943-6191 Fax
Email

How Much Can You Afford?

Are you interested in finding out how much home you can afford? Lenders often use a 28% housing ratio. This means that your projected housing costs (including mortgage payment, taxes, and insurance) should be no more than 28% of your gross monthly income. A lender using this ratio figures a family earning $2,500 a month can afford a monthly housing cost of $700. Use this calculator to estimate what mortgage you qualify for.
  Monthly Income
    Salary/Wages: $
    Other Income: $
  Monthly Housing Expenses
    Property Taxes $
    Home Insurance: $
  Other Monthly Expenses
    Auto Payments: $
    Credit Cards and Other Payments: $
  Loan Term & Interest Rate
    Loan Term: Yrs
    Interest Rate: %

Results
  You may qualify for a maximum monthly mortgage payment (P+I) of: $
  You may qualify for a maximum loan amount of: $

 
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