The best way to do that is to reach out to a lender and see about getting pre-qualified for a home loan. You would complete the application and the lender of your choice would be able to run the numbers for you. As a lender we have to adhere to specific guidelines in regards to your Debt to Income Ratio. The simplest way to put it is that we take your monthly gross income and divide it by your monthly housing including Principal, Interest, Taxes, Insurance, PMI, and Condo Assessment (if applicable) for the front end ratio and total of all other debt (car payments, student loans, credit cards, etc) for your back end ratio. Standard QRM guidelines are 28%/36% for but we normally go up to 45% for total debt. I hope that helps you figure out what you are looking for. If you have any questions please feel free to contact me.
PHH Home Loans