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How much house can I afford?

The first step in buying a home is determining your budget. The determining factors of what you can afford are:

  • Annual income— yours and the co-borrower’s
  • Monthly debt and debt-to-income
  • Down payment amount
  • Interest rate, based on the market and your credit history
  • Loan term
  • Homeowners/property insurance and PMI (if applicable)
  • Income and property taxes
  • Homeowners Association dues (if applicable)

Our mortgage calculator uses these factors to determine the maximum amount you can borrow, or in other terms, how much house you can get on your budget.


Information made available with our self-help tools are for your independent use and are not intended to provide mortgage payment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from our qualified Loan Originators regarding mortgage loan issues.