Interest Rate
The same loan amount can create a different monthly payment when the interest rate changes.
Buyer Planning Tool
What can you actually afford?
Before you fall in love with a kitchen, let's look at the numbers. Enter your income, debt, estimated loan terms and housing costs to build a rough price range for planning.
This is not your pre-approval. It is the conversation before the conversation.
PRIVACY: THIS CALCULATOR RUNS IN YOUR BROWSER. YOUR ENTRIES ARE NOT SUBMITTED OR STORED BY THIS PAGE.
1. Who Is Buying?
Enter gross annual income and recurring monthly debt for each person who may be included in the mortgage application.
Number of potential borrowers
2. Cash & Down Payment
Tell the calculator how much cash you plan to use toward the down payment and what percentage you are considering. Keep money needed for closing costs and reserves separate.
Do not include money you need for closing costs or emergency reserves.
$
Enter the percentage you want this estimate to test.
%
3. Estimated Housing Costs
These inputs matter. Two houses with the same purchase price can have very different monthly payments.
Use a current estimate from a lender or mortgage-rate source.
%
Years used to calculate principal and interest.
Property taxes vary by municipality. Enter an estimate if known.
%
Monthly estimate.
$
Monthly. Enter 0 if not applicable.
$
4. Planning Assumptions
These are planning ratios, not promises about what a lender will approve. Adjust them if you want to test a more conservative or more aggressive scenario.
Default planning assumption: 30%.
%
Default planning assumption: 40%.
%
A lender may use different ratios depending on the borrower,
credit profile, property, loan program and underwriting system.
Mortgage insurance, flood insurance, special assessments and
other costs are not automatically included unless you enter them
in the available fields.
Estimated Planning Price
$0
Combined gross monthly income
$0
Existing monthly debt
$0
Planning housing-payment limit
$0
Estimated principal & interest
$0
Estimated property taxes
$0
Homeowners insurance
$0
HOA / condo fee
$0
Planned down payment
$0
Estimated loan amount
$0
Credit
Credit profile can affect rate, mortgage insurance, program eligibility and underwriting.
Why can this number move so much?
Taxes & Insurance
Your mortgage is not the entire housing payment. Taxes, insurance and certain property-specific costs matter too.
Existing Debt
Car loans, student loans, credit obligations and other recurring debt can reduce the amount of monthly room available for housing.
Down Payment
Your available cash and chosen loan structure affect the relationship between purchase price and loan amount.
Credit
Credit can influence available programs and pricing. The actual impact belongs in a conversation with a licensed lender.
The Property
Condo fees, flood insurance, property condition and other property-specific costs can change the final numbers.
The Next Number Matters More
This gives you a planning number. A lender gives you the underwriting number.
When you are ready, start the pre-approval inquiry. A licensed mortgage professional can review your actual income, credit, assets, debts, loan options and documentation.