What Purchase Price Can You Afford to Pay?

Use my Purchase Price Affordability Calculator to discover how much you can afford to pay for a home. You can adjust:

• Income
• Your Recurring Debts
• Downpayment
• Interest Rate
• Amortization
• First time Buyer Status

‘Maximum Affordable Price‘ is the purchase price Financial Planners would suggest is the most you should be paying for your home.

‘Bank Approvable: House Rich, Cash Poor‘ is your purchase price limit where you would still qualify for prime rates, but you are at financial risk. It will be difficult to save for your retirement or put money away for education.

‘Generally Unaffordable, Not Bank Approvable‘ is the purchase price beyond which prime lenders will give you a mortgage. You still may be able to access alternative lending or a private mortgage, but you are at substantial financial risk.