ABOUT THIS CALCULATOR:
To arrive at an "affordable" home price, we followed the guidelines of most lenders. We've allowed a total debt-to-income ratio of no more than 38%. And we have assumed a housing payment-to-income ratio of 28% for our conservative estimate, and 33% for the aggressive one. Before buying, however, you should also factor in other savings needs, including retirement and college.

ASSUMPTIONS:
We've assumed a 30-year mortgage term, annual property tax of $3,500 and homeowners insurance of $481 - the national average. We do not factor in private mortgage insurance, which you'll owe if your downpayment is less than 20 percent of the purchase price. It averages from $50 to $80 per month, but can climb to $150 or more on higher priced homes. Plug in your own numbers for more tailor-made results.

All interest rates subject to change without notice and assume a minimum credit score of 720.  This is not an advertisement to extend our customer credit as defined by Regulation Z Section 226.2.  Interest Rates and APR quoted as of 9/2/2008.  APR is based on a 30 & 15 year fixed interest rate mortgage with a loan amount of $150,000.00 at 95% financing.

*Alimony, Child Support or Separate Maintenance income need not be revealed if borrower or co-borrower does not choose to have it considered for repayment of the loan.