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Mortgage Affordability Calculator

Use this calculator to get a general idea of how much mortgage you can afford. Please note that we have many programs that will help you maximize your income and savings and get the home of your dreams.

Desired mortgage amount:
Mortgage length (in years):
Interest %
Annual property tax:
Total monthly payments not including mortgage:
(car, loans, credit cards, etc.)
DETAILS
Monthly Principal + Interest:
Total Monthly Obligations:
Required Salary:

Listed below are the basic guidelines of how our industry determines how much of a mortgage payment you qualify for.

  • Your gross (before taxes) monthly salary should be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  • Your gross (before taxes) monthly salary should be greater than 36% of the sum of the monthly mortgage, monthly tax and other monthly debt payments

* Calculators are provided for your reference only and they do not include all fees associated with a mortgage loan. Platinum Home Mortgage does not guarantee the accuracy of the calculations and results are not a commitment to provide mortgage financing.