Personal Services - Loans - Home Affordability Calculator

HOME AFFORDABILITY CALCULATOR

How Much Home Can You Afford?
Purchasing a new home is a big step. That's why we created this home affordability calculator to give you a general idea of the price range you can afford. This calculator is designed to provide an estimate of the potential amount you can afford for a home based of the information provided. This illustration does not include points and closing costs, which vary by type and term of loan. Factors such as credit history and the appraised value of the property may also determine the maximum loan amount. This loan calculator is not an offer to extend credit.
Annual Income From All Sources	$
Total Monthly Debt - Include car payments, credit cards, student loans, child support, alimony, day care, etc. (Do not include your current rent or mortgage payment).	$
Amount of Cash or Equity Available For Down Payment	$
Property Tax Rate (1.0% to 1.5% is typical)	%
Home Insurance Rate (0.3% to 0.5% is typical)	%
Mortgage Interest Rate	%
Term of Loan in Years (15 or 30 years is typical)


Results
You Can Afford a House Valued at	$
Loan Amount	$
Monthly Principal and Interest Payment	$
Monthly Private Mortgage Insurance (Required on loans with less than a 20% down payment)	$
Monthly Property Taxes and Insurance	$
Whether you are a first time homebuyer or looking to move up, our mortgage loan specialists can tailor a program to meet your needs. Call us at 222-2300 or contact us via email.

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