Mortgage CalculatorBuyers often ask us, "Can I afford to buy a home in Parkfairfax?" Surprisingly, it's easier than you think. The calculator below will help you get an idea of how much buying power you have. It is based on a simple fixed-interest mortgage. To approximate your buying power, fill in the information below.
To determine Required Salary, this calculator makes the following assumptions, typical of most loan programs.
- Your monthly mortgage payment should not be more than 28% of your gross monthly salary.
- The sum of your monthly mortgage payment, together with your other monthly debt payments, should not be greater than 38% of your gross monthly salary.