How much home can I afford?
Our Home Affordability Calculator can help you get a rough estimate of how much you can afford to pay for a home as well as your estimated monthly mortgage payment. For example, your yearly income is $62,000 and monthly expenses are $650, with 5% down, you would be able to afford a home worth $241,348. This would come out to a monthly payment of $1,210 without taxes and insurance. Use the calculator below to input your own numbers.
Down Payment
Total Borrowed
Keep in mind that a Home Affordability Calculator provides a rough estimate. For example, the calculator does not take into account your overall financial situation or the annual cost of repairs and maintenance that every homeowner should plan for and budget.
For personal assistance evaluating how much you may be able to afford on a home, contact one of our Home Loan specialists who can answer your questions and provide you financing options.
Find out more about how to compare mortgage rates.
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Get started today by getting a personalized evaluation of your home loan options from Freedom Mortgage.