I'm looking for an online mortgage calculator. Lots out there, I know, but what I want is a bit different. Everything I've seen tells you how much of a mortgage you could be eligible for. What I want is something that tells me how much I can borrow given a specific monthly payment.
For example, I currently pay approx. $1200 a month in rent. Let say I want to get a mortage with monthly payments of $1200 (ie. housing costs are the same, but instead of renting I'm a home owner). Assuming a given interest rate, how much of a mortgage can I get?