The shortest answer to that question is: it depends on a number of factors. The most important are your gross household income, your down payment and the mortgage interest rate. Lenders will also consider your assets and liabilities. Your own lifestyle and debt comfort zone also come into play.

To help you estimate the maximum mortgage you can afford just enter the information required below and it will calculate the maximum mortgage amount and monthly payment.

These calculation are based on two simple rules that lenders use to determine how much of a mortgage you can afford. The first rule is that your monthly housing costs should not exceed 32% of your gross monthly household income. Secondly, your entire monthly debt load should not be any more than 40% of your gross monthly income.

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