How Much Home Can I Afford? Calculator
12/9/2019
The perfect home is for sale in the neighborhood you’ve always wanted. Can you afford it?
With a purchase as large as a home, there are many considerations when determining if you can afford a house payment. You’ll need to take a look at your monthly income, any debt you owe, annual property taxes and insurance, the life of the loan, available down payment, and interest rate. If you’re not sure about insurance or property tax costs, you can get a quote from your insurance agent.
With a purchase as large as a home, there are many considerations when determining if you can afford a house payment. You’ll need to take a look at your monthly income, any debt you owe, annual property taxes and insurance, the life of the loan, available down payment, and interest rate. If you’re not sure about insurance or property tax costs, you can get a quote from your insurance agent.
Each of these items will impact your monthly payment, so estimate them as best you can. It might be a good idea to overestimate your costs and underestimate your income just to be safe. If you end up having more room in your budget than anticipated, you could adjust your budget or put that money aside in savings.
Once you decide you can afford the home you want, find a local mortgage banker. He or she can make the home loan process easier and meet your family’s long-term goals.
Can I apply for a mortgage online? Begin your online application here.
Once you decide you can afford the home you want, find a local mortgage banker. He or she can make the home loan process easier and meet your family’s long-term goals.
Can I apply for a mortgage online? Begin your online application here.
