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Calculate Your Monthly Housing Payment

There are two aspects to consider when purchasing a home.

  • available cash for down payment and closing costs
  • income to support a mortgage

Industry standards require that your monthly payment for housing not exceed 28% of your gross monthly income. This percentage, known as "the front ratio," may be stretched to 33% depending on the lender's qualifying ratios and the loan program.

To see how high a monthly housing payment you would qualify for, enter your gross annual income in the box below, leaving out commas, then press "Calculate".

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