Assuming you are carrying average debt and are prepared to put 10% down payment on the house in which you're interested, the chart below should help you to see how much you can afford. Select your Gross Monthly Household Income, then read across to find the sales price corresponding to the approximate mortgage Interest Rate.
Interest Rates |
| |
|
5.50% |
6.00% |
6.50% |
7.00% |
7.50% |
8.00% |
8.50% |
9.00% |
9.50% |
10.00% |
| Gross Income/Mo. |
|
|
|
|
|
|
|
|
|
|
|
| $1,500 |
|
$59,000 |
$57,000 |
$55,000 |
$53,000 |
$51,000 |
$50,000 |
$48,000 |
$46,000 |
$45,000 |
$43,000 |
$2,000 |
|
$79,000 |
$76,000 |
$74,000 |
$71,000 |
$68,000 |
$66,000 |
$64,000 |
$62,000 |
$60,000 |
$58,000 |
| $2,500 |
|
$99,000 |
$95,000 |
$92,000 |
$89,000 |
$86,000 |
$83,000 |
$80,000 |
$77,000 |
$75,000 |
$72,000 |
| $3,000 |
|
$119,000 |
$114,000 |
$110,000 |
$106,000 |
$103,000 |
$99,000 |
$96,000 |
$93,000 |
$90,000 |
$87,000 |
| $3,500 |
|
$139,000 |
$133,000 |
$129,000 |
$124,000 |
$120,000 |
$116,000 |
$112,000 |
$108,000 |
$105,000 |
$101,000 |
| $4,000 |
|
$158,000 |
$153,000 |
$147,000 |
$142,000 |
$137,000 |
$132,000 |
$128,000 |
$124,000 |
$120,000 |
$116,000 |
| $4,500 |
|
$178,000 |
$172,000 |
$165,000 |
$160,000 |
$154,000 |
$149,000 |
$144,000 |
$139,000 |
$134,000 |
$130,000 |
| $5,000 |
|
$198,000 |
$191,000 |
$184,000 |
$177,000 |
$171,000 |
$165,000 |
$160,000 |
$154,000 |
$149,000 |
$145,000 |
| $5,500 |
|
$218,000 |
$210,000 |
$202,000 |
$195,000 |
$188,000 |
$182,000 |
$176,000 |
$170,000 |
$164,000 |
$159,000 |
| $6,000 |
|
$237,000 |
$229,000 |
$221,000 |
$213,000 |
$205,000 |
$198,000 |
$192,000 |
$185,000 |
$179,000 |
$174,000 |
| $6,500 |
|
$257,000 |
$248,000 |
$239,000 |
$231,000 |
$223,000 |
$215,000 |
$208,000 |
$201,000 |
$194,000 |
$188,000 |
| $7,000 |
|
$277,000 |
$267,000 |
$257,000 |
$248,000 |
$240,000 |
$231,000 |
$224,000 |
$216,000 |
$209,000 |
$203,000 |
| $7,500 |
|
$297,000 |
$286,000 |
$276,000 |
$266,000 |
$257,000 |
$248,000 |
$240,000 |
$232,000 |
$224,000 |
$217,000 |
| $8,000 |
|
$317,000 |
$305,000 |
$294,000 |
$284,000 |
$274,000 |
$264,000 |
$256,000 |
$247,000 |
$239,000 |
$231,000 |
| $8,500 |
|
$336,000 |
$324,000 |
$313,000 |
$301,000 |
$291,000 |
$281,000 |
$272,000 |
$263,000 |
$254,000 |
$246,000 |
| $9,000 |
|
$356,000 |
$343,000 |
$331,000 |
$319,000 |
$308,000 |
$298,000 |
$288,000 |
$278,000 |
$269,000 |
$260,000 |
| $9,500 |
|
$376,000 |
$362,000 |
$349,000 |
$337,000 |
$325,000 |
$314,000 |
$303,000 |
$293,000 |
$284,000 |
$275,000 |
| $10,000 |
|
$396,000 |
$381,000 |
$368,000 |
$355,000 |
$342,000 |
$331,000 |
$319,000 |
$309,000 |
$299,000 |
$289,000 |
You may want to know how much your monthly payment (for a fixed rate 30-year loan) would be. Check this by clicking: Monthly Payment Mortgage Calculator.
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Lowcost Lowest rates on the web. Check for current mortgage refinacing rates. Use the Lowcost Loan Mortgage Rate Sheet Software Calculator as a benchmark to compare refinancing rates.