08/03/2026
Before you start house hunting, let’s do the math! Here’s a simple way to estimate your budget:
💵 Monthly Income: $6,000
💳 Debt Payments (car, credit cards, loans): $500
📊 Estimated Mortgage Rate: 7%
📉 Debt-to-Income (DTI) Ratio Goal: 43% max
🏠 Max Mortgage Payment Calculation:
$6,000 x 0.43 = $2,580 (total monthly debt allowed)
$2,580 - $500 (current debt) = $2,080 for mortgage payment
💡 At a 7% interest rate, a $2,080 payment could afford roughly a $300,000 - $320,000 home, depending on taxes & insurance!
🔑 Want a personalized estimate? Call for great rates, low closing costs, and exceptional service!
Available 7 days a week at (615) 599-2101.
NMLS #367757
**These figures are estimates provided for educational purposes only. For a precise budget calculation tailored to your needs, please contact us.