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Mortgage Calculators can help you estimate the maximum mortgage you can afford. These calculations
are based on two simple rules that lenders use to determine how much of a mortgage you can afford.
The first rule is that your monthly housing costs should not exceed 32% of your gross monthly
household income. Housing costs include monthly mortgage payments, taxes and heating expenses. If applicable, this
sum should also include half of monthly condominium fees.
The second rule is that your entire monthly debt load should not be any more than 40% of your gross monthly income.
This includes housing costs, and other debts such as car payments, personal loans, and credit card payments.
Mortgage Calculator
Amortization Schedules
Loan Payment Calculator
Refinance Calculations
Home Affordability
Mortgage Loan Comparisons
Pre-Qualify Calculator
Early Pay Off Calculations
all are offered free and easy to use at Calculators4Mortgages. Just click the graphic below and follow the links on main page to get to the Calculator
you need.
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| How Much Can You Afford? It depends on a number of factors.
These factors include your gross household income, your down payment and the mortgage interest rate. Lenders will
also consider your assets and liabilities. Don't forget to consider your own lifestyle and "debt comfort zone". |
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