The maximum qualifier calculator will allow you to calculate how much of a home you can afford based on your annual income, the purchase price of the home, or the total monthly mortgage payment that you would like to make.

Why Use The Mortgage Qualifying Calculator?

When you are shopping for a new home, it really pays off to know exactly how much you can afford to pay. Knowing how much of a house you can afford will give you a price range to work with, which in turn will help you (and your Realtor) to narrow down your house search.

Knowing how much of a house you can afford will also help you to determine the other costs involved in buying a home.  Your down payment or deposit, monthly mortgage payments and closing costs are all crucial factors to consider, and knowing this can make the difference between being able to afford the house of your dreams and being caught short.

How To Use The Mortgage Qualifying Calculator

Not sure where to start? The calculator has three sections for you to complete

  1. Choose whether you want to calculate based on your annual income, or if you know your ideal price or monthly payment you can search by those instead.
  2. Decide how many years you would like to repay your mortgage. Remember that shorter terms mean less repayments!
  3. Add in the remaining details such as the Interest rate you have been quoted, the property tax and the home insurance. If you don’t know any of these, leave the default values as these are based upon market averages.
  4. Select the relevant button to get a breakdown of your costs either annually or monthly.
  5. Click the Down Payment and Closing Costs section and it will expand so that you can complete it with the relevant information. Do the same for the Total monthly debt payments
  6. Click the green Calculate button to jump back to the top of the tool, which will now be displaying the estimated value of the home you are able to purchase. Click View Report for a simple graph and explanation of how the calculator came to this conclusion.
  7. Whatever result you get, click Get FREE Quote to explore your options further.

Who is this Calculator for?

This calculator is most useful if you:

  • Are a new potential homeowner needing to know your budget constraints
  • Have decided on a new home but want to ensure you can afford it
  • Are looking to plan and budget for the future

The calculator says I can’t afford my dream home, what can I do?

It can be disappointing to learn that the home you have set your heart on is out of financial reach, but don’t give up hope! It may be that you can reach your goal by adjusting some of your other constraints. Perhaps you can save for a little longer in order to amass a larger down payment, or wait until your credit card and loans are paid off. These small but significant changes could make all the difference and enable you to get the mortgage you require. If the down payment is causing you an issue, you can try Interest Only Mortgages.

My result shows I can afford my new home, what should I do next?

First of all, congratulate yourself! You are now one step closer to owning the home you desire. The next step is to reach out to our handpicked mortgage brokers and get started on securing yourself the perfect deal.

Click Get FREE Quote, answer a few simple questions about yourself and will take care of the rest. We offer this service to you totally FREE of charge. Take your next step today, with us by your side - it couldn’t be simpler!

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