Use this worksheet to estimate the maximum monthly mortgage payments FHA and conventional lenders may recommend.
FHA Loans
| Total monthly take-home pay |
$_____________ |
| Multiply by .29 (29 percent) |
x .29 |
| Allowable monthly housing costs for FHA loan |
$_____________ |
Conventional Loans
| Total monthly take-home pay |
$_____________ |
| Multiply by .28 (28 percent) |
x .28 |
| Allowable monthly housing costs for conventional loan |
$_____________ |