Mortgage Affordability Calculator
The Mortgage Affordability Calculator is a vital tool for anyone stepping into the housing market. It helps prospective buyers determine how much house they can afford by considering their income, debts, and down payment. This clarity enables individuals to set realistic expectations, explore suitable housing options within their budget, and make informed financial decisions, paving the way for a smoother homebuying experience.
The calculator below helps you see the monthly amount you would need to pay in order to afford that dream home. Enter in the value of the property and the deposit you can afford to pay. Enter an average interest rate (but be careful and test this out with a number of scenarios) and the mortgage term. You will be shown the monthly repayment amount required to afford this home.
Here’s how it works:
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