Build Your Own House

How Much Can I Borrow For a Home Loan

Summary: Here is a housing affordability calculator to help you determine how large a mortgage or home loan you can afford.

Remember, Cash + Mortgage = your Total Housing Budget.

You know how much cash you have, now you have to determine how large a mortgage loan you can afford.

Whether you’re buying a home or building a new home, mortgage lenders don’t just look at your income and the down payment you have to determine how much money you can borrow on a mortgage.

They also look at all of your monthly debt (liabilities and obligations) including car or boat loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating.

Here is a home loan affordability calculator from that will help you determine how much house or new home you can afford to buy before you start actually talking to mortgage lenders, mortgage brokers or even looking for a new home.

You can use this calculator to determine how much of a mortgage you may be able to obtain.

Use the calculator to experiment with various down payments, terms, and interest rates.

You may be able to put as little as 3.5% down (FHA loans), or even zero down ($0 DownNew Homes) on some loans.

Compare current interest rates and terms from mortgage lenders near you. If you have any questions let me know.

Carl Heldmann