Mortgage Calculators

How Much Can you Afford? Use Ratios to Help figure it out

To figure out how much of a monthly house payment you can afford, calculate your debt-to-income ratio. This will let you see how much of your income goes to pay your mortgage and other debts. It is important to keep your ratio low and within the guidelines. The higher your ratio is, the harder it will be for you to fit in your mortgage payment with your other debts and your daily living expenses.

Lenders use two ratios to qualify you for a loan—the debt-to-income ratio or “back end” ratio and the housing ratio or "front end" ratio.