Mortgage calculator where you input the max monthly payment?
March 9, 2008 · Print This Article
bluefrog asked:
Hi, I’ve been looking online and can’t find a calculator where I say I can afford a total of $$$ per month (Principle/Taxes/Insurance/Interest) included and the calculator tells me how much mortgage I should take. Is there one available?
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Hi, I’ve been looking online and can’t find a calculator where I say I can afford a total of $$$ per month (Principle/Taxes/Insurance/Interest) included and the calculator tells me how much mortgage I should take. Is there one available?
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Josh Dunaway has been a certfied Realtor in the suburban Chicagoland area for over 20 years. Aside from starting his own real estate company, he also owns a mortgage company as well.
try your cell phone calulator
Nope, only a lender/loan officer can answer that question. Too many variables to answer that on a calculator.
I don’t know of any that do exactly what you want, but I can point you at two that will provide you with the information your looking for, if you’re willing to fiddle with them a bit.
The first one calculates how much of a loan you can afford based on income, current debt, etc.
The second one is an amortization calculator. After you plug in some basic mortgage information, you can plug in some additional principal and see how it affects the mortgage.
To get real life answers use this tool: