Deciding How Much House You Can Afford

Generally, you can afford a home equal in value to between two and three times your gross income.

Based on your current rent, use this calculation to figure out how much mortgage you can afford.


Multiplier:   x 1.32

Mortgage Payment:_______________

Because of tax deductions, you can make a mortgage payment - including taxes and insurance - that is approximately one-third larger than your current rent payment and end up with the same amount of income. This calculation assumes a 28% income tax bracket.  If your tax bracket is higher, your savings will be too.


Home Value: $
Loan amount: $
Interest rate: %
Loan term: years
Start date:
Property tax: %
PMI: %
Output parameters
Free Mortgage Calculators

Getting Your Credit in Order

You can obtain a copy of your credit report using any of the following:

 5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage.  The following factors affect your score:

What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you will qualify for a loan and what your loan terms will be.  So, keep your credit score high by doing the following:

Determine Your Mortgage Qualifications

Loan Types to Consider

Brush up on these mortgage basics to help you determine the loan that will best suit your needs.

Getting Pre-Approved

What Do You Need for Pre-Approval?

Contact Information for Local Loan Officers

Property Taxes

Contact your local tax assessor for current property tax information.  If the property is within city limits it will be subject to county and city taxes.



Other things to consider in the cost of owning a home:

Costs of Home Ownership

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Mary Mayfield

508 S Third Avenue
Chatsworth, GA 30705


Information contained on this website is deemed accurate but is not guaranteed.