Calculate Your Maximum Allowable Monthly Payment & Home Purchase Price
This calculation will determine both your maximum monthly mortgage payment and the maximum purchase price of your home based on the numbers you enter. Lenders typically allow the lesser of these two calculations as your Maximum Monthly Expense: This calculator uses these ratios but these ratios can vary depending on the downpayment and the type of mortgage loan that you select. Go to How Much Home Do I Qualify For? for more details. You should also consult with a lender who is an ECAR Affiliate member to discuss your particular situation. Also, the calculator contains sample amounts for monthly long term obligations. Please be sure to change them to amounts that reflect your particular situation.
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