Use our home affordability calculator to estimate how much house you can afford based on your income, debts, and down payment. This step-by-step guide will help you understand how to use the calculator and make smarter home buying decisions.
Step1: Gross Monthly Income
Start with your gross monthly income.
This is your income before taxes, not what you take home.
💡 Why it matters:
Lenders use this number to determine how much you can borrow.
Step 2: Available down payment
Enter how much money you have available for a down payment.
This is not monthly — this is the total amount you can put upfront.
💡 Example:
- $10,000
- $25,000
- $50,000
The higher your down payment, the better your loan terms can be.
STEP3: Monthly debts (credit cards , loans)
Add your current monthly obligations:
- car payments
- credit cards
- personal loans
💡 Why this matters:
Lenders look at your debt-to-income ratio (DTI) to decide what you qualify for.
Step 4 : Loan Type
Choose the type of loan you’re considering:
🏦 Conventional Loan
Typically requires stronger credit.
Often seen as the “standard” option — similar to a strong financial profile.
🏠 FHA Loan
Government-backed loan.
Allows lower down payments and more flexibility.
🇺🇸 VA Loan
Available for eligible veterans.
Can allow 0% down payment and strong benefits.
💡 Why this matters:
Each loan type changes your affordability and monthly payment.
Use the slider to adjust your estimated mortgage rate.
💡 Why a slider?
Because rates change based on:
- credit score
- market conditions
- loan type
👉 This lets you test different scenarios instantly
Enter where you plan to buy:
- ZIP code
- HOA fees (if any)
💡 Why this matters:
Location impacts:
- taxes
- insurance
- total monthly cost
Enter where you plan to buy:
- ZIP code
- HOA fees (if any)
💡 Why this matters:
Location impacts:
- taxes
- insurance
- total monthly cost
Before seeing your results, you’ll be asked to enter:
- Full name
- Phone number
🔒 Why we ask for this
Your information is kept private.
The goal is to:
- save your results
- help you understand your numbers
- connect you (if needed) with a licensed professional in your area
👉 There is no obligation and no automatic brokerage relationship created