Mortgage Calculators

In the Affordability Calculator below, you’ll need two additional figures:

Front Ratio = The total percent of all things house related as compared to your monthly gross income : i.e., the Principal and Interest, condo or home association fees, taxes, and insurance. For many lenders, this ratio must be below 30%.

Back Ratio = The total percent of all monthly debt payments as compared to your monthly gross income: i.e., all of the items in the Front Ratio, plus car payments, credit card debts, etc. It’s generally accepted that this ratio be no higher than about 36-38%.

In today’s market, an additional consideration is whether it even makes sense to buy … or whether you should continue to rent:

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