Web Applications Development by Christiansen Consultants

The following calculator can be used to compute the price of home you can afford. In addition it will generate a loan amortization chart showing your month by month loan balance and the amounts going to principal and interest each month. Input your gross monthly income, the annual interest rate, the amortization period of the loan and your down payment. The calculator will them calculate how much of a home you can qualify for. If you wish to see the loan amortization chart then click the second button.

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	Gross Monthly Income$

	Loan Term (years):

	Interest Rate:*	%

	Down Payment Amount:	$

Considering your gross monthly income of $5,000.00 and an annual interest rate of 7.5% plus a down payment of $10,000.00 you should be able to purchase a home for about $210,224.68

Fixed Interest Rate	Loan Amount	Monthly Payments	Initial Principle Payment
7.5%	$200,224.68	$1,400.00	$148.60

This calculation does not represent either an application, a pre-approval, or a commitment to lend.


	Help for the Affordability Table Calculator Using the Calculator Enter a value for each required input field, and click the button to generate results. For an explanation of what to enter or how to interpret the results, just click on any of the active labels in the input form or the result display. Gross Monthly Income The gross monthly income is your wages and ernings before taxes are taken out. You can use this calculator to see what mortgage lenders would be willing to lend to you, to purchase a home, based on this individual criteria. Back to the top