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mortgage calculators bread crumb mortgage calculators > Affordability mortgage calculator

Affordability mortgage calculator

With this mortgage calculator, you can instantly know how much mortgage you can afford. This calculator takes into consideration your Gross Annual Income, Monthly Obligations, Actual Interest Rate, Mortgage Term, Annual Property Taxes, and Annual Home Insurance. This mortgage calculator needs to take consideration mention above to try its best to calculate the Maximum monthly mortgage payment and Maximum mortgage amount. Thereby, you can start to shop houses, condos, and properties at your price range. This affordability mortgage calculator is also one of our mortgage calculators.

Enter values that implies your situation
Gross Annual Income: $ Click here for mortgage term definition
Monthly Obligations: $ Click here for mortgage term definition
Actual Interest Rate: % Click here for mortgage term definition
Mortgage Term: years Click here for mortgage term definition
Annual Property Taxes: $ Click here for mortgage term definition
Annual Home Insurance: $ Click here for mortgage term definition


Mortgage Calculator Definition of Terms

Gross Annual Income

Contains the total amount of earnings without any deductions such as taxes.

Monthly Obligations

Includes car loan, student loan furniture loan, boat loan, credit card payment, child support, alimony, court judgements, and etc.

Actual Interest Rate

The percentage of an amount of money which is paid for its use for a specified time. For example, 5.25 quotes by lender

Mortgage Term

The number of years to amortized the mortgage loan. For example, 20, 25, or 30 years are common

Annual Property Taxes

A tax levied by the local municipality or county on real and personal property.

Annual Home Insurance

The total amount paid for homeowners insurance.

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Information and calculation provided on this mortgage calculators website is for general purposes only. It is not intended to take the place of advice from your mortgage brokers.