Want to know how much of a mortgage loan
amount you can afford to take out? This calculator takes into
account your current monthly income, the loan amortization
term (15, 20, 30 years), interest rate you get and the down
payment that you put down. It also asks you for your monthly
housing and other expenses. Here is a sample input/output
done by the calculator:
refinance calculator
Monthly Income 
$5,000 
Loan Term 
20 years 
Interest Rate 
6% 
Down Payment 
$20,000 
Monthly Housing expenses 
1000 
Other monthly expenses 
1000 
Sample Output
Purchase Price (loan + down payment) 
$7,916.15 
Upfront investment (down payment + closing costs) 
$19,162.52 
Loan amount 
$27,916.15 
Closing costs (3% of loan amount) 
$837.48 
Monthly payment 
$200.00 
