Plan Your Mortgage Payments

"How much home can I afford?" is a question most home buyers ask.

While there are varying thoughts on this a common rule of thumb is that your monthly housing expenses should not total to more than 33% of your gross (i.e. before taxes) income. That includes your mortgage payment, property taxes, and home owners insurance. So take a third of your current income and use that as the maximum amount that you'll be able to afford.

"How much will my monthy payment be if I buy that house?" is the next frequently asked question by a prospective home buyer.

For the answer to that we'll need to use a calculator... or, more appropriately, the mortgage calculator that we have provided to the right hand side. Enter the price of the house, the intended length of the mortgage, what you feel like you could put down as a down payment, and the current interest rate (estimated here for you). Once you've entered that information click on the button and we'll estimate your monthly payments for you.