Home Affordability  |  College Planning  |   Retirement Planning  |  Installment Loan  | Exit
Our Home Affordability Calculator gives you three ways to determine how close you are to your dream home. You can either calculate the maximum price you can afford, a target price given the monthly payment you’re comfortable with, or the minimum income you’d need to buy a specific house.

You may find that some fields already contain default data. Just type your data over it. If you can’t type over a field, it’s because the data it contains was calculated automatically based on other information you provided.

Remember, our Home Affordability Calculator is designed for general planning only. To give you a quick idea of where you stand, it estimates some numbers automatically, including property taxes and insurance.


I want to know (select one):
Income / Assets
What is your annual gross income (before taxes and other deductions)?
How much will you have available for a down payment?
Monthly Debt Payments
What are your total car payments each month?
What are your total credit card payments each month?
What is the total of all your other monthly payments?
Estimated Closing Costs
Do you anticipate paying points? If so, how many? (If unsure, enter 0.)
What are your estimated closing costs? If unsure, enter $550.
Mortgage Information
What is the loan term in years?
What interest rate do you anticipate paying? %

     

 
Results:
Based on the information you have entered, your maximum home purchase price would be: $127,369.00

Your mortgage amount would be: $117,369.00

Your total monthly payment, including principal, interest, home insurance and property taxes, would be: $1,050.00

Your estimated cash required at closing would be: $12,017.11

Monthly Payment Breakdown


 
Annual Principal vs. Interest Analysis
Though your monthly payment would remain fixed for the life of your mortgage, the amount of your payment allocated to principal and interest would vary over the years according to the schedule below.


 
Cumulative Principal vs. Interest Analysis
By examining the graph below, you can determine how quickly you would reduce your principal and how much total interest you would have paid at any point during your loan term.


 
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