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Thinking About Buying A Home In This Crazy Market? - Ep. 12 - The Best of The Ramsey ShowDiscover MoneyHelper's Mortgage Affordability Calculator and see how much you can borrow for your mortgage based on your income and expenses. Most financial advisors agree that people should spend no more than 28 percent of their gross monthly income on housing expenses, and no more. Use our free mortgage affordability calculator to estimate how much house you can afford based on your monthly income, expenses and specified mortgage rate.