House affordability calculator

Cómo usar la House affordability calculator

Qué calcula y cuándo usarla

This estimates the Inicio Precio you could afford, laborables backwards desde your income, existing debts, Entrada y the share de income lenders typically allow por housing.

Cómo usarla, paso a paso

1. Enter household income antes Impuesto y your regular Mensual debt payments.
2. Add your Entrada, expected Intereses Tipo y loan Plazo.
3. Set property Impuesto, insurance y cualquiera Mensual service charge.
4. Leave the limits A 28% y 36%, o change them a match your lender.

Qué significa cada dato

• Household income – Gross income Por Año.
• Mensual debts – Payments on cards, loans y cars, but not rent.
• Entrada – Cash you will put down.
• Property Impuesto y insurance – Anual costs as a Porcentaje de the Precio.
• Housing limit – The maximum share de gross income por housing. 28% es the traditional guide.
• All debts limit – The maximum share de income por housing plus all other debts. 36% es traditional.

Cómo leer los resultados

• Precio you could afford – Inicio Precio A which the Mensual Coste reaches the lower de the two limits.
• Mensual housing Coste – The budget available, y which limit set it.
• Mortgage, Impuesto y insurance – How that budget es divided.

La fórmula

Housing budget = the lower de (income ÷ 12 × housing limit) y (income ÷ 12 × all-debts limit − monthly debts). Price = (budget − charges + deposit × f) ÷ (f + t), where f es the mortgage payment per unit borrowed y t es monthly tax y insurance como parte de Precio.

Un ejemplo práctico

Income de 80,000, debts de 300 al mes y a 40,000 deposit at 6.5% over 25 years. The 28% limit gives 1,866.67 a month, below the all-debts limit, so the estimate es about 296,343 with a 256,343 mortgage.

Supuestos y límites

• Lenders also consider credit Historia, savings, job stability y stress-test your payments A higher rates.
• The 28/36 rule es a guide, y lenders en your country may use income multiples instead.
• Impuesto y insurance are simple percentages de price.

Errores comunes

• Treating the Resultado as a lending offer.
• Leaving out upkeep, utilities y moving costs.
• Forgetting that a variable Tipo could raise the payment.

Preguntas frecuentes

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