Find out how much home you can afford based on your income, debts, and down payment.
Before taxes and deductions
Car loans, credit cards, student loans, etc.
Cash available for down payment
Current mortgage rate
Enter your financial details and click "Calculate Affordability" to see your results.
Lenders typically use the 28/36 rule: your housing costs shouldn't exceed 28% of your gross monthly income, and your total debt payments shouldn't exceed 36%.
A larger down payment reduces your loan amount and monthly payment. It may also help you avoid PMI (Private Mortgage Insurance) if you put down 20% or more.
Remember to budget for property taxes, homeowners insurance, HOA fees, maintenance, and utilities when determining what you can truly afford.
Getting pre-approved shows sellers you're a serious buyer and helps you understand exactly how much you can borrow before you start house hunting.