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Home Affordability Calculator – Pre Approval

Home Affordability Calculator

home affordability calculator

If you are shopping for a new home, you will need to know how much you can afford. Real estate agents will ask for a pre-approval before they take you out to visit homes for sale. There is nothing worse than falling in love with a home and then finding out that you do not qualify for a mortgage.

The home affordability calculator below will give you a basic idea of how much you can afford to buy. It is directional and should provide you with what your target home price should be. It is calculating at a 43% DTI without the FHA mortgage insurance included. This means the true DTI is closer to 50% which is also within the FHA guidelines.

When completing the calculator, use 3.5% as the interest rate to be conservative.

We suggest that you speak with a qualified loan officer to get a true pre-approval. Click to connect with an FHA lender who can help.

How Much Can You Afford?


Home Affordability Calculator


TERM OF LOAN - 30 YEARS
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$
$
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(Include minimum payments for credit cards, car payments, student debt, alimony, child support, etc)

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.

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Loan Amount

$0.00

Related Articles – FHA Calculators

FHA Mortgage Calculator

How to get Pre-Approved for an FHA Loan

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