How Much Can I Afford?

See if Your Income is Sufficient to Qualify
Desired Mortgage for New Home

Mortgage Length

Years
Interest %
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
 
Summary
Monthly Principal + Interest
Total Housing Payment (tax & insurance included)
Required Salary
Your salary must meet the following two conditions:
  1. Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.
DISCLAIMER: Calculations by this tool are believed to be accurate, yet are not guaranteed. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

Custom Inquiry
Coldwell Banker Residential Brokerage

Address:
10401 Coastal Highway
Ocean City, MD 21842

Phone:
Office (410) 524-6111
Toll Free (800) 638-1880
Direct (410) 723-8727

email:
peck@peckmiller.com

Residential & Commercial Salesperson

How Much Can I Afford?
How Much Can I Borrow?
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