Home Affordability Calculator
An important first step in buying a home is understanding how much you can qualify for but also how much you can comfortably afford. The home affordability calculator will help you to determine what you can qualify for when applying for a mortgage.
You do not need to complete all of the fields for the calculator to work with the exception of your annual income. One of the key factors within the calculator will be your annual gross income (before taxes) and the interest rate. Please be sure that you complete all fields if applicable
This video will also explain how to use the calculator in just a couple of minutes. When you are finished, you can click here for rate quote to speak with a loan officer about getting pre-approved.
Home Affordability Calculator
TERM OF LOAN - 30 YEARS
What You Can Afford
The results below are based upon your personal financial data as entered above. The results below are based upon a DTI ratio of 43%
Loan Amount
$0.00
Payment Amount (includes Taxes, Ins, and HOA)
$0.00
The amount you can afford is mostly impacted by your income, monthly debt and property taxes for the home you may purchase. See below for tips on how to afford more.
Request a Payment Amount
If you are trying to keep your payment down, simply input the total payment amount that you desire and the results will show you the loan amount that fits you. This also takes into account the taxes, insurance and HOA you entered above.
Loan Amount
$0.00
Home Affordability Calculator Results 
Now that you know how much you can afford, you can begin your home shopping. Your realtor may need to verify that you are pre-approved and one of our lenders can help with that.
If you have a two year work history then you will likely have an opportunity to get approved for the mortgage amount above. There are just a few barriers that could either prevent you from qualifying for a mortgage, or make it just a bit more difficult.
Home buyers with bad credit most likely can still qualify for a mortgage. However, your interest rate will be higher which means the home affordability calculator will provide you with a lower qualification amount. Read our article on how to qualify for a mortgage with bad credit.
If you have a recent bankruptcy, you can get a mortgage but your interest rate will be higher even if you do have a high credit score. You may also be required to come to the closing table with a larger down payment which could limit the amount you can afford. Read our article on qualifying for a mortgage with a recent bankruptcy for more information on that topic.
Other Mortgage Calculators
Mortgage Amortization Schedule and Calculator