The calculator below helps in determining how much of a home you can afford. The amount of payment you can afford is based on a housing debt ratio of 33% and an overall monthly debt ratio of 38%. (Cincinnatus does offer loan programs which allow for higher debt ratios) Simply enter in your gross monthly income and monthly payments into the affordability calculator and it will estimate the mortgage loan amount you can afford as well as monthly payment. The amounts listed are estimates. Please call or email us if you have any questions about the results.

Please keep in mind that this is not a loan approval or commitment.

The payment calculator will calculate the principal and interest payment for any size loan. Enter the amount borrowed, the down payment, the interest rate, and the term of the loan, hit calculate and the loan payment will be calculated.

Housing Debt Ratio is your home loan payment, that includes principal, interest, taxes, and insurance (PITI), divided by your monthly gross income. Generally, for conventional loans this ratio must be equal to or less than 33% of your gross monthly income. Cincinnatus does offer loan programs which allow for higher Housing Debt Ratios.

Overall Debt Ratio is the total of your monthly payments divided by your gross monthly income. Generally, for conventional loans this ratio must be equal to or less than 38% of your gross monthly income. Cincinnatus does offer Loan Programs which allow for higher Overall Monthly Debt Ratios. Monthly debts would include your house payment (PITI), car payments, credit card payments, installment loans, etc. Payments such as utilities, car insurance, cable, and Internet service fees would not be included in monthly debts for this calculation.


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