This calculator will estimate the size of a mortgage you could afford based on the size of your monthly rent or monthly payment you would like to have.
This provides an estimate mortgage that you can afford and includes 1.2% for property tax and insurance. Please include any mortgage insurance (MI) within the 'Mortgage Interest Rate'. Current MI For FHA is 1.25%. For conventional loan MI please ask your lender. If you put 20% or more as a down payment on a conventional loan, there is no MI charged. See below current mortgage interest rates.