Affordability calculator
What does this calculator do?What does this calculator do?
Your results
$107,100
Home price
$743
Monthly payment
Affordable
Aggressive
This scenario is affordable.
Your current debt-to-income ratio is 20%, which is likely to be approved by lenders. Your down payment is 19% of the total home price.
What's next?
See how this home price could be affected by current rates
Make a homebuying checklist
Get help with your mortgage
Popular terms
DTI / (Debt to Income Ratio)
Your debt-to-income ratio (DTI) is all your monthly debt payments divided by your gross monthly income. This determines your borrowing risk from a lender’s perspective.
Property taxes
Property tax is paid by an individual or entity on an owned property. Every property owner needs to pay property tax. Property taxes are based on the assessed value of real property.
HOA fees
HOA fees are common in condominium and planned communities. These fees are paid directly to the homeowners association rather than to your lender.
Homeowners insurance
Homeowners insurance provides you with financial protection in the event of a disaster or accident involving your home.
PMI
Private mortgage insurance (PMI) is a type of insurance that may be required by your mortgage lender if your down payment is less than 20 percent of your home’s purchase price. PMI protects the lender against losses if you default on your mortgage.
Interest rate
The interest rate on your loan is a percentage of the loan amount that you pay the lender as the cost for borrowing money. We calculated this interest rate using real data similar to your situation to give you a realistic expectation for your home mortgage.
$107,100
Home price
$743
Monthly payment
Get help with your mortgage