Real estate as a business has grown in the recent past. The reason behind this enormous growth is the demand for land. People are so vigorous nowadays in buying property irrespective of whether they can afford it or not. Land as we all know is the only asset which does not have depreciation. Due to this fact people go for it and treat it like a big investment. When they see an opportunity they are for it. People, who can manage to pay for it, pay with the ready cash others borrow money and buy the land or any real estate. Some people go for mortgaging their current assets to get the new one. But is there any limit in borrowing money? Is there any scale or measure to tell me the maximum amount that I can borrow? Yes there is tool which helps in determining how much one can afford to borrow in purchasing a land and the tool is called Mortgage Calculators. A mortgage calculator also serves the purpose of comparing the loan rates options available. If there are more than one loan options available then one has to select the best by evaluating several factors. Like for instance the length of the mortgage loan is an important factor to any person. The payment of the loan back is yet another important factor. Depending on the interest rate given for the loan, one has to decide whether to pay the principal bi-weekly or monthly. A mortgage calculator is just an automated tool that helps to plot the cause and effect of the change in various variables over time. There are a lot of variables that could very over time. For example, the interest rate which can be a floating interest rate and the number of payments per year. This factor determines the amount of principal paid during each payment. If the number of payments increases, the principal paid during every payment increases and vice versa. A newer version of the mortgage calculator is called mortgage analyzer. This also helps in determining the percentage of monthly income that is to be paid for debt clearance in the long run. It is said by experts that the lender does not want their borrowers to pay more than 40 percent of their monthly income. If a borrower pay, in the long run the debt may turn out to be a bad debt.