How Much Can I Borrow? This mortgage prequalify calculator will help you know how much home loan you can pre-qualify for.

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Mortgage Qualifier Calculator

This Mortgage Qualifier Calculator will tell you how big of a home loan that you can pre-qualify for with a lender.
Enter the information below:

  • Monthly Income - the gross amount on your paychecks. ie before taxes.
  • Monthly Debt - monthly payments for credit card bills, car loan, car leases, student loans, alimony, etc.
  • Down Payment - how much cash do you have in savings that you could pay at the time of closing. This is in addition to the $2000-$4000 you will need for closing costs.
  • Years - what is the length of the loan in years.
  • Interest Rate - this is the annual interest rate you will pay on the loan.
Monthly Income
Monthly Debt Payments
Years
Down Payment
Interest Rate (APR)

Important Notes
1. Calculations based on total monthly repayment divided by total monthly income resulting in a Debt Servicing Ratio (DSR) not exceeding 32%. This is based on industry averages for calculating DSR's.

2. As most institutions make their calculations with an interest rate 2% higher than the current rate, we have also used an interest rate 2% higher than the one entered in.

3. This calculation does not pre qualify you for a loan - it is to be used as an indication only. Individual institutions have their own lending criteria which may differ from the one used here.



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