Log Home Affordability Calculator

Log Home Affordability Calculator

Use this calculator to determine how much home you can afford. Lenders will look at your income versus your debt to determine how much additional debt you can safely take on for a new home. Increasing your income and/or reducing your debt and/or increasing your cash down payment improves your ability to purchase a more expensive home.


Financing Information

Your Gross Annual Income:	$ Pre-tax income
Down Payment You Can Afford:	$
Mortgage Interest Rate:	%
Your Total Monthly Debt:	$
Expected Annual Property Taxes:	$
Expected Annual Home Insurance:	$

How It Works

This calculator follows the same affordability guidelines used by most lenders. We have assumed a 28% house payment-to-income ratio. However, if your other debts (car loans, alimony, credit cards, insurance, etc.) cause your total debt-to-income ratio to exceed 36%, you may have problems getting approved for a loan.

This calculator assumes a conventional 30-year fixed mortgage.

If your down payment is less than 20% of your home purchase price, you may be required to have private mortgage insurance (PMI) which will increase your monthly payment by approximately $50-$75.

The results of this calculator are to be used for informational purposes only and should not be used as financial advice.

LogHomeAdvisor.com