Find Out How Much You Can Afford in Your Next Home

Use this mortgage calculator to figure out what kind of house you can afford. As in other website calculators, this program will calculate the principal and interest portion only of your payments, and will not include your taxes and insurance.  There are two ways to use this calculator:

1. Enter the amount of a mortgage in the "Mortgage Amount" field and click on the "Calculate" button beside the "Monthly Payments" field to determine the monthly payments for the home.  2. Enter the amount of monthly payment you want to pay in the "Monthly Payments" field and click on the "Calculate" button beside the "Mortgage Amount" field to determine the mortgage you can afford. 

VERY IMPORTANT TO REMEMBER:  This propram calculates the principal and interest portion only of your payment.  It will not include your taxes and insurance. Yearly property taxes in the Dallas/Fort Worth area average between 2.6% - 3.3% of the sales price, depending on the city, school district and county that the home is located in. (Remember, we do not have state income taxes in Texas.) 

The Taxes and Insurance portion of your payment averages between 25-35% of the total payment, which simply means that after you calculate the P&I portion of the payment, the average person will have a total payment including taxes and insurance, of about 130-150% of the P&I number.  Ask your Cyndia Moore Team Consultant what the average tax rate and insurance rate is for the area that you want to move to. They will be able to tell you approximately how much you will need to add for taxes and insurance.  We can also refer you to experienced and ethical lenders for your mortgage needs.