How much can a renter afford to borrow?
You can figure out the size of the mortgage you can afford based upon your monthly rent payment, the expected annual property tax and homeowner’s insurance. You can also determine the home price you can afford at different percentages of down payment.
Monthly Rent Payment ($)
Expected Mortgage Rate (% per annum)
Mortgage Period (Years)
Expected Annual Property Tax ($)
Expected Annual Home Insurance ($)
How much mortgage can I afford based on monthly rent payment?
Downpayment (%) 0 % 5 % 10 %
Mortgage you could afford
Down Payment Amount
Total Price of home