Home Affordability Calculator
Estimate home prices you can afford, based on your income, down payment, mortgage rate, and more.
Freedom Mortgage
Home Loans
FHA Loans
- Competitive FHA interest rates
- Low minimum down payments
- Minimum credit score often 550
- Mortgage insurance premiums required
- All homebuyers are eligible
VA Loans
- Competitive VA interest rates
- 0% down payments for most buyers
- Minimum credit score often 550
- One-time funding fee
- Only Veterans, active military, and surviving spouses are eligible
USDA Loans
- Competitive USDA interest rates
- 0% down payments for many buyers
- Minimum credit score often 620
- Low mortgage guarantee fees
- Only rural and some suburban homebuyers are eligible
Conventional Loans
- Competitive rates with good finances
- Down payments as low as 5%
- Minimum credit score often 620
- No mortgage insurance with a 20% down payment
- All homebuyers are eligible
30-Year, Fixed-Rate
Mortgages
- Payments often lower than 15-year mortgages
- Interest rates often higher than 15-year mortgages
- Interest payments don’t change
- All home loan types are eligible
15-Year, Fixed-Rate
Mortgages
- Payments often higher than 30-year mortgages
- Interest rates often lower than 30-year mortgages
- Interest payments don’t change
- All home loan types are eligible
Adjustable-Rate
Mortgages
- Interest rates and payments often fixed for first years of loan
- Initial interest rates often lower than fixed-rate mortgages
- Interest rates and payments can change
- Most home loan types eligible
How to Get a Mortgage: at a Glance
Get Prequalified
Getting prequalified is a good way to estimate home prices you can afford and how much money you may be able to borrow from your lender. Having a prequalification letter can help make your bids on houses more appealing to sellers, too.
Apply for a Loan
You’ll need to complete an application and provide income and financial documents to apply for a mortgage. You’ll also need to read and sign a Loan Estimate and other documents to complete your application. Our experienced loan advisors can help make this process simpler.
Get Approved
Once your application has been completed, we’ll send it to our Underwriting department for review. We’ll perform a home appraisal to estimate the fair market value of the house, as well as a title search, to check for liens or claims against it. You’ll need to meet our credit, income, and financial standards to get your loan approved.
Close Your Loan
Once your loan has been approved, you’ll attend a closing to complete the purchase of your home. You’ll read and sign your documents and pay any closing costs that are due when you close your loan. Once the closing has been completed, you’ll become the owner of your new home!
Home to 3 Million Mortgages
Freedom Mortgage makes homeownership possible for everyone. We’re one of the nation’s top mortgage lenders and servicers* with more than 3 million customers.
Founded in 1990 by Stanley C. Middleman, Freedom Mortgage was created by a family—for families. We’re committed to helping our customers find homes, because home is your launchpad and legacy. We’re grounded in hard work, integrity, and genuine care for our customers.
Our experienced loan advisors can help you find affordable loans for buying homes, opportunities for lowering your rate and payment, and options for getting cash from your home’s equity.
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3M+
Customers Served
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35 Years
In Business
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A Top
Residential Lender
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Family
Owned
*Inside Mortgage Finance, Jan.–Jun., 2025
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