<p>Based on your information and ratio selections:</p><p>Your monthly mortgage expenses shouldn't exceed 28.00% of your total monthly income.</p><p>Your total monthly obligations (monthly mortgage expenses plus any other long-term debt obligations) shouldn't exceed 36.00% of your monthly income.</p><p>You have been capped by the 36.00% ratio. Including your down payment, it appears you may qualify for a home valued around $163,928</p><table class='pure-table' role='grid'><tr><th colspan='2' class='section'>Front-End Ratio</th></tr><tr><td>Monthly gross income</td><td>$5,000</td></tr><tr><td>Front-end ratio</td><td>28%</td></tr><tr><td>Calculated payment for front-end ratio</td><td>$1,400</td></tr><tr><td></td><td></td></tr><tr><th colspan='2' class='section'>Back-End Ratio</th></tr><tr><td>Debts and obligations</td><td>$700</td></tr><tr><td>Percent of gross income</td><td>14%</td></tr><tr><td>Maximum percentage available for mortgage payment</td><td>22%</td></tr><tr><td>Calculated payment for back-end ratio</td><td>$1,100</td></tr><tr><td></td><td></td></tr><tr><th colspan='2' class='section'>Payment Calculation</th></tr><tr><td>Minimum of the two ratio options</td><td>$1,100</td></tr><tr><td>Less: taxes and insurance</td><td>$220</td></tr><tr><td>Equals: maximum allowable payment</td><td>$880</td></tr><tr><td>Calculated mortgage amount</td><td>$163,928</td></tr><tr><td>Down payment</td><td>$0</td></tr><tr><td><b>Home value you can afford</b></td><td><b>$163,928</b></td></tr></table>