Affordability Calculator (Free)

Before looking for a rent to own home, it is best to find out what you can qualify for as far as payment and price. This calculator below will help you determine those two figures.
  1. First, enter your monthly GROSS household income.  This is the amount of income BEFORE taxes are taken out.
  2. Next, begin to enter your monthly debt payments.
  3. Start by entering your car payments.
  4. Next enter your minimum credit card payments
  5. If you have court ordered child support, then enter that amount next.
  6. Next is monthly payments for students loans if applicable.
  7. Finally, if there are other REPORTED monthly debt payments, enter them on the last line. REPORTED debt, is ONLY debt that is reported on your credit report.  Utility bills such as electric, cell phone, water, etc., are NOT reported debt, so do NOT enter any monthly debt such as utility bills on this line.
  8. If you have an installment loan, such as a furniture store might have, then you would enter that here.
Lastly, click “Calculate” and the calculator will display the MOST that you can afford on a monthly payment and price of house.
Ideally, you want to give yourself some room financially and not look for a house that is the maximum you can afford, so give yourself a little room on your monthly payment.


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