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How Much House Can You Afford?

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Keep in mind, these calculators provide an estimate only.  Figures are from sources deemed to be reliable, but there is no guarantee of accuracy or completeness. Only a qualified lender can determine your actual maximum loan, payments, and affordability given your specific financial conditions. 


NOTE: Click here if you need directions how to use these calculators.

If you need help finding a qualified lender, we can help.

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I. Estimate Monthly Payment



II. Estimate Maximum Sales Price:


I.  Calculate Monthly Payment:

To estimate a monthly payment for a specific home for which you know the asking price, simply:

  1. Enter the purchase price
  2. Enter your anticipated down payment
    NOTE: Ideally 10-20%. Does that work for you?
  3. Select a loan program (typically 30 year fixed).

This will provide you the estimated mortgage payment that the purchase of particularly price home will require given your down payment.

II.  Calculate Maximum Sales Price

Alternatively, if you want to estimate the size of a mortgage you might be able to obtain:

  1. Change the ANNUAL INCOME to your annual income from all sources.
  2. Enter the amount of your MONTHLY DEBT payments (i.e., revolving credit card payments, school loans, car loans, etc)
  3. Enter the estimated amount of funds you have available for your DOWN PAYMENT.
  4. You can leave all other defaults unchanged. Or click ‘Advanced‘ and change other parameters such as property tax rates. insurance estimates, homeowners association fees, etc.
    NOTE: We recommend changing “Taxes to 1.3%” and entering Home Ownership Association (HOA) fees if known.

The result will be the MAXIMUM price of a home you might consider and the ESTIMATED mortgage payment, which includes payment for the loan as well as taxes, and insurance.  The payment will include an estimate of Private Mortgage Insurance (PMI) if your down payment is less than 20% of the sales price.