How Much Can You Afford?

Don't just start shopping without knowing your looking in the right price range. You would be amazed what you can do with today's interest rates. They are the lowest they have been since the mid 1950's!

If your a first time home buyer you should know about the $8,000 tax credit. You may qualify for this even if you owned a home in the past. Click the $8000 Tax Credit tab on the left side of the page and read more about the $8,000 tax credit. It's the American Recovery and Reinvestment Act of 2009.

Let us help you find out what you can afford!

Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link. Better yet you can call Robyn @ Summit Home Mortgage for a more accurate assessment of your personal situaition. Click on the Mortgage link on the left.

Required

Required Must be a number between 1 and 50
Term In Years:
Required Must be a number between 1 and 100
Interest Rate:	%
Required
Cost of Home:	$
Required Cannot be more than Cost of Home
Down Payment:	$
Required
Annual Insurance:	$
Estimate Insurance to 0.43%of Cost
Required
Annual Property Tax:	$
Estimate Tax to 1.2%of Cost
Monthly Income:	$	Required
Monthly Debt:	$	Required

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage

Qualification

Affordability

Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance ( %):
Total Loan(Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

Don't Forget about the $8,000 Tax Credit

How Much Can You Afford?