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Mortgage affordability calculator
How much can I afford to spend on a house?
Discover your true home-buying budget in minutes. Our affordability calculator factors in taxes, PMI, and live mortgage rates, using your income, assets, and monthly debts, so you know exactly what you can afford. Enter your details to get your max home price.
Mortgage information
Based on where you're looking, price can change. Interest rates can vary by state and property taxes can change from county to county.
This is your total income before taxes. If you plan on having a co-borrower, include their income too.
This is what you'll use for your down payment and closing costs. It can include checking accounts, savings accounts, retirement funds, CDs, and brokerage accounts.
This affects your interest rate. A higher score means a better chance of a lower rate. If you have a co-borrower, use the lower score of the two.
This is how long it will take you to pay off your loan. Some mortgages have 15 or 10 year terms, but 30 is most common.
Whether you will be using your property to live in, use on the side, or as an investment. Based on what you choose, your loan type and rates can change.
Does your property have one unit? Are there 2 to 4 units? Or is it a condo? Based on what type of property you have, your loan type may change.
Build your budget
Add in all those other non-mortgage expenses and see what you'll be spending each month.
Miscellaneous expenses
This includes regular payments like credit cards, student loans, and car payments.
Natural gas, heating, and electric. If you currently rent, this may be included as part of your monthly rent payments so check your lease.
Add up what you might normally spend on expenses like internet, food, groceries, child alimony, and entertainment every month.
Typically, homeowners set aside between 1-4% of the purchase price of their house for annual maintenance and repairs. The older the house, the higher this percentage should be.
If you expect any major home improvements after you buy, put those here. Things like a kitchen or bathroom remodel can start at $10,000.
Estimated maximum home price
$559,126
$2,962/mo
Requires a downpayment of $111,825 (20%) and closing cost of $27,956 on a 30 year fixed at an estimated rate of 4.750% (5.250% APR).
Total monthly payments
$2,962
For illustration only, estimates are not a guarantee.
ZIP code is used to estimate property taxes and insurance.
Results may vary based on your situation, lender terms, and current rates.
We don't have all your details, so rate, APR, and payment estimates may differ from your actual offer.
Assumptions (unless noted):
- No cash-out at closing
- Closing costs paid out of pocket