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Maximum Mortgage
What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and estimates your maximum monthly housing payment and the resulting mortgage amount.

Monthly income
Your total monthly income from all sources as entered in the monthly income worksheet. All income should be entered before taxes.
Monthly liabilities
Your monthly liabilities from the liabilities worksheet. Your monthly liabilities are used to calculate your maximum PITI.
Monthly housing expenses
Your monthly housing expenses from the housing expenses worksheet. The items entered as housing expenses make up the taxes and insurance portion of your monthly PITI payment.
Monthly housing payment (PITI)
This is your total principal, interest, taxes and insurance (PITI) payment per month. This includes your principal, interest, real estate taxes, hazard insurance, association dues or fees and private mortgage insurance (PMI). Maximum monthly payment (PITI) is calculated by taking the lower of these two calculations: 1. Monthly Income X 28% = monthly PITI 2. Monthly Income X 36% - Other loan payments = monthly PITI
Maximum principal and interest (PI)
This is your maximum monthly principal and interest payment. It is calculated by subtracting your monthly taxes and insurance from your monthly PITI payment. This calculator uses your maximum PI payment to determine the mortgage amount that you could qualify for.
Start interest rates at
The current interest rate you could receive on your mortgage. This is used as the starting point for displaying a range of interest rates and the resulting mortgage amount.
Term in years (amortization)
The scheduled number of years you will take to repay this loan. If you make the required payments, the loan will be paid in full at the end of the term. The most common mortgage terms are 15 years and 30 years.

This calculator is for illustrative purposes only. The information shown is designed to provide basic information about mortgage financing. Please consult with your tax advisor to determine the tax impact of home ownership and interest deductibility for your individual circumstances.