How much mortgage can you borrow with your income? It's not an easy question. The major variables include, but are not limited to, such factors as the interest rate, your income, credit rating, amount down, the loan program selected, and program qualification standards.
The calculator below will give you a general idea of how much income is required to support a given level of borrowing and buying. For specifics, pre-qualify with lenders before entering the marketplace -- and remember that a pre-qualification letter is generally not a firm loan commitment.
Please note: Information entered onto this form is not collected, sold, or exchanged.
To use the chart, replace the model numbers with your figures. Do not use commas. When all blanks are filled in, press the calculation button.
Program from Hugh Chou used with permission.
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