Gross Annual Income:
Downpayment amount:
*Monthly debt:
Mortgage rate:	(%)
Annual property taxes:
Annual homeowners insurance:
	CONSERVATIVE	AGGRESSIVE
House price: $
Loan amount: $
Monthly mortgage payment: $
Taxes/Homeowners insurance: $
Total monthly payment: $

ABOUT THIS TOOL: To arrive at an "affordable" home price, we followed the guidelines of most lenders. We've allowed a total debt-to-income ratio of no more than 36%. And we have assumed a housing payment-to-income ratio of 28% for our conservative estimate, and 33% for the aggressive one. Before buying, however, you should also factor in other savings needs, including retirement and college.

ASSUMPTIONS: A 30-year mortgage term was assumed, annual property tax of $3,500 and homeowners insurance of $481 - the national average. And we do not factor in private mortgage insurance, which you'll owe if your downpayment is less than 20 percent of the purchase price. It averages from $50 to $80 per month. Plug in your own numbers for more tailor-made results.

*Include auto and student loans, alimony, child support payments and credit card payments.

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