"Mortgage calculators how much can i borrow" help you to figure out mortgage how much can I borrow affordability. However, how much you can borrow depends upon affordability factors that lenders look for. Such factors are:

• Monthly gross income: This includes your total monthly income including wages (if employed) and investment income prior to taxes and deductions. Any additional income (due to overtime, bonus, part time jobs, rental income, etc) is also taken into account.
  
  If you're self-employed, the loan amount will depend upon your net taxable income based on 2 years of business accounts. Lenders prefer you to have at least 2 years of business accounts in order to qualify for a mortgage.
  
  
• Annual Housing Expenses: This makes up your annual property tax and home/hazard insurance premium. Property taxes are levied as a percentage of your assessed property value. Home/hazard insurance is what your lender requires you to purchase in order to keep your home protected from disasters like flood, hurricanes etc.
  
  
• Monthly debt obligations: These include your monthly payments towards credit cards, personal loans, auto loans and other debts. Lenders check 2 ratios - housing ratio and debt to income ratio which help to determine "mortgage how much can I borrow".

Apart from the above factors, your credit record counts a lot when it comes to qualifying for a mortgage.

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