Maximum Mortgage Affordability Calculator



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Maximum Mortgage Affordability Calculation






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Maximum Mortgage Affordability Calculator is an essential tool to calculate how much maximum mortgage loan, monthly or term repayment you can afford to repay the maturity and interest components for your home loan in time. The key terms monthly net income, expenses, loan interest rate and loan period are used to calculate the maximum mortgage. The following rules maximum mortgage affordability rule 28 and 32 are applied on your monthly income to determine how much you can be affordable

The maximum mortgage affordability rule 28 is the rule which states that upto 28 percent of your monthly gross salary is allowed for monthly mortgage repayment
The maximum mortgage affordability rule 32 is the rule which states that upto 32 percentage of your monthly gross salary is allowed to pay insurance, tax and other fees. When it comes to online calculation, this maximum mortgage affordability calculator applies these two rules along with the information given to get an estimation for maximum mortgage