The Property Affordability section helps the property buyer gain a deeper insight into the properties they can afford by providing key information, such as the suggested monthly income, monthly payments for different loan terms, and customizable downpayment.

The Property Affordability uses the following values:

• Property's price

• Downpayment (default setting at 20% of the property's price)

• Interest rate (default setting at 7%, but customizable)

• Loan terms (default terms at 5, 10, 15, and 20 years)

The Property Affordability displays the following details:

• Loanable amount is the amount you can loan from a bank or lender.

• Suggested monthly income is the recommended gross monthly income that allows you to comfortably afford the monthly payment of the property (monthly payment can take up to 40% of your monthly gross income or total household income)

• Monthly payment is the amount you have to pay monthly when you apply for a loan.

Important notes:

• The estimates shown in the Property Affordability section are based on standard rates to give you a quick reference of its affordability.

• The actual interest rates and loan terms may differ from the default rates and terms used in the Property Affordability.

• The financing company of your choice will provide the final loan terms.