Annual Income |
The total annual income of the individual or household. |
$60,000 |
Monthly Debt Payments |
The total monthly debt payments including loans, credit cards, etc. |
$1,000 |
Down Payment |
The amount of money available for the down payment. |
$15,000 |
Interest Rate |
The annual interest rate on the loan. |
4% |
Loan Term (years) |
The duration of the loan in years. |
30 years |
Buying Power |
The maximum amount of money that can be borrowed based on the given parameters. It is typically calculated using affordability ratios and loan calculations. |
$250,000 |