Borrowing Power Calculator
You can use the calculator below to get an estimate of how much you may be able to borrow. If you’d like more details about mortgage calculations, a Real Living Sales Professional will be happy to help. You can reach one by calling XXX-XXX-XXXX.
Note: Please don't use any punctuation in the boxes below.
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The maximum payment shown would include principal and interest to repay the loan plus monthly costs for taxes and homeowners insurance. It may also include private mortgage insurance. A Real Living Sales Professional can help you translate this into a loan amount based on the average cost in your area and current interest rates.
Hoping to borrow more?
Our calculator is based on a 38% allowance for debt as a percentage of income. But this allowance can be higher or lower depending on the type of loan that works for you. Use this calculator as a guide, but don't assume that a slight difference in price will mean you can't qualify.
How to increase your borrowing power!
Increasing your income certainly helps (easy, right?). Another way is to pay off large debts, such as credit card balances or car loans. In addition, Real Living offers a lot of first-time buyer programs (not all just for first timers) that can increase your borrowing power.
