How Much Can I Afford?

In general, you should try to keep your total housing expenses (mortgage, insurance, property taxes, HOA) to less than 28% of your monthly income so that you do not overextend yourself financially. This ratio of housing expenses to monthly income is known as Front End Ratio. If you have a large amount of debt besides your mortgage, then you should try to limit your housing expenses plus monthly debt to less then 36% of your monthly income. The ratio of total housing expenses plus other debt divided by monthly income is known as the Back End Ratio.

Annual Income:
Annual Insurance Premiums:
Annual Property Tax:
HOA Monthly Fees:
Monthly Debt (Credit,School,Car,Alimony):

Loan Rate:		%
Loan Term:
Front End Ratio:		%
Back End Ratio:		%

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