Typical mortgage lending guidelines are applied, using the (1) financial data you've provided and (2) estimates for other parameters such as tax and insurance, which you can also adjust. Three tests are run:
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The "Housing Expense to Income" ratio (more ...)
- The "Long-term Debt to Income" ratio (more ...)
- The "Minimum Down Payment" requirement (more ...)
One of these three tests will be a constraint on your ability to buy a more expensive house.
Lending decisions also depend on your employment history, credit scores and other factors not considered here.
Please note that none of the financial information entered in this calculation is retained, giving you the confidence of complete privacy.
* This calculator is only offered as a planning tool and is not an offer to make a loan of any amount. For more precise guidelines about lending considerations that apply to your situation, please contact a mortgage lender. |
