To determine how much you can afford to borrow, just enter the amount of each payment, the number of payments per year, and the term (number of years).

If the payment amount includes your real estate taxes, home insurance payments, and PMI, you need to enter those amounts in the fields provided. The system will divide those numbers by the number of payments for you. For instance, if you are making monthly payments, 1/12 of the taxes, insurance and PMI payments are assumed to be included in the total payment amount that you entered.

See the help screens for the individual fields by clicking on the underlined key words (links).