Worksheet

Enter your Gross Monthly Income: $  

Estimate 1 $  

This result is an estimate of your maximum monthly house payment for Principal and Interest, Real Estate Taxes, and Hazard Insurance. 

Estimate 2 $  

This result is an estimate of your maximum monthly debt service for Mortgage Principal and Interest, Real Estate Taxes, and Hazard Insurance, plus all additional monthly debt payments 

Calculate both formulas to determine how much you can afford each month. Remember that the first estimate is just a starting point. If you have significant monthly debt service obligations in addition to a mortgage payment, the amount that you can afford each month for the mortgage could be significantly less than 28% of your monthly gross income.