The maximum payment shown would include principal and interest to repay the loan plus monthly costs for taxes and homeowners insurance. It may also include private mortgage insurance. A real estate agent or your GMAC Mortgage representative can help you translate this into a loan amount based on the average cost in your area and current interest rates.

Hoping to borrow more?

Our calculator is based on a 38% allowance for debt as a percentage of income. But this allowance can be higher or lower depending on the type of loan that works for you. Use this calculator as a guide, but don't assume that a slight difference in price will mean you can't qualify.

How to increase your borrowing power!

Increasing your income certainly helps (easy, right?). Another way is to pay off large debts, such as credit card balances or car loans. In addition, we offer a lot of first time buyer programs (not all just for first timers) that can increase your borrowing power.

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