Your Mortgage: How Much Can You Afford?

Use this worksheet to estimate the maximum monthly mortgage payments FHA and conventional lenders may recommend.


FHA Loans

Total monthly take-home pay

$_____________
Multiply by .29 (29 percent)

x .29
Allowable monthly housing costs for FHA loan

$_____________

Conventional Loans

Total monthly take-home pay

$_____________
Multiply by .28 (28 percent)

x .28
Allowable monthly housing costs for conventional loan

$_____________