How Much Home Can You Afford

How Much Home Can You Afford

This formula is only a guide and not to be construed as actual lending calculations.Contact your loan officer to determine more accurately what price range you should consider. 

Lenders abide by certain ratios when calculating the loan amount their customers can qualify for and the ratios vary by lender and loan program. Many use 28% of your gross monthly income as the maximum allowed for your mortgage payment (principal/interest/taxes/insurance or PITI); for your total monthly debt, the ratio is 36%. 

Total monthly expenses means PITI plus long-term debt (such as auto loans) and revolving/credit-card debt. Do not include other expenses such as groceries, utilities, clothing, tuition, etc., to calculate this ratio.

Image title

Keith Judish Headshot
Phone: 623-224-7956
Dated: January 17th 2019
Views: 500
About Keith: O'Keith Judish licensed REALTOR® with West USA Phoenix AZ. We use advanced search technology for o...

2 Responses

  1. Lucy Thayer

    Hi, are HOA paid monthly. Is the amount noted divided into 12 months or is that the monthly due amount?


  2. Keith Judish

    Depending on the HOA they are set up monthly or quarterly.


Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Create A Spooky Yard For Halloween - Halloween can be one of the most
OKeith Pays Your First Mortgage Payment - Most of us have been spending a
My Loan Was Sold What Gives - You've just moved into your new
To Turf Or Not To Turf - Yard care is a big consideration

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

17235 N 75th Ave, Suite # C-190
Glendale, AZ