This calculator helps you determine how much house you can afford based on your income, debts, and other financial factors.

Steps to use:

1. Select Income Type: Choose between single, joint, or self-employed income.
2. Enter Annual Gross Income: Input your total pre-tax income for the year.
3. Set Monthly Debt Payments: Enter your total monthly debt obligations (credit cards, car loans, student loans, etc.).
4. Enter Down Payment Available: Input the amount you have available for a down payment.
5. Set Mortgage Interest Rate: Enter the expected interest rate for your mortgage.
6. Choose Loan Term: Select the duration of your loan in years (typically 15 or 30 years).
7. Set Property Tax Rate: Enter your local property tax rate (annual percentage).
8. Enter Home Insurance Cost: Input your estimated monthly home insurance cost.
9. Select Currency: Choose your preferred currency, including various African currencies.
10. Click Calculate: View your maximum home price, monthly payment, and debt-to-income ratio.

Understanding the Results:

• Maximum Home Price: The highest-priced home you can afford based on your financial situation
• Debt-to-Income Ratio: Your total monthly debt payments divided by your gross monthly income (recommended to be 36% or less)
• Monthly Payment Breakdown: Shows how your payment is allocated between principal, interest, taxes, and insurance

Tips for Home Buying:

• A larger down payment reduces your monthly payments and may eliminate the need for mortgage insurance
• Consider all homeownership costs including maintenance, utilities, and potential HOA fees
• Get pre-approved for a mortgage to understand your actual buying power
• Shop around for the best mortgage rates and terms