How Much Can I Afford?

Estimates a required salary for a desired mortgage.

See if Your Income is Sufficient to Qualify



Your salary must meet the following two conditions:
  1. The sum of your monthly mortgage (principal and interest), monthly property tax and monthly homeowners insurance must be less than 28% of your gross (pre-tax) monthly income.
  2. The sum of your monthly debt payments including but not limited to your monthly mortgage payment (principal and interest), monthly property taxes, monthly home owners insurance, monthly car payments, monthly student loan payments and other monthly debt payments must be lower than 35% of your gross (pre-tax) monthly income.
DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

PHH Home Loans, LLC, 1 Mortgage Way, 3rd floor, Mt. Laurel, NJ 08054. NMLS ID #4256 ( Arizona Residential Mortgage Licensee #BK 0907270; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; Regulated by the Colorado Division of Real Estate; Illinois Residential Mortgage Licensee #MB.6759865; 100 W. Randolph, 9th floor, Chicago, IL 60601, 800-532-8785; Minnesota - This is not an offer to enter an interest rate lock-in agreement; Licensed Mortgage Banker - NYS Banking Department; Ohio Certificate of Registration MB. 804019; Equal Housing Lender.

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