Max monthly payment
$0
Max home price
$0
Max loan amount
$0
Down payment
$0
Frequently asked questions
What are the 28/36 rules?
Standard lender guidelines: spend no more than 28% of gross monthly income on housing, and no more than 36% on all debts combined. Your max payment is the lower of the two limits.
Does this include taxes and insurance?
No. This is a planning estimate for principal and interest only. Real mortgage payments also include property tax, insurance and possibly HOA fees, so treat the result as an upper bound.
How is the max loan calculated?
From your max monthly payment using the standard loan amortization formula with your interest rate and term, then the down payment percentage is added to reach the max home price.
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