Use this calculator to determine how much of a home you can actually afford. Enter all the details and click submit to generate chart information and to show a selection of houses in your range.
Add up all your recurring monthly payments for Credit Cards, Student Loans, or other loans and put that amount here.
PMI is required primarily for borrowers who's downpayment and equity in the home is less than 20% of the home's purchase price. This protects lenders against most of the losses that can occur when a in case of a default on a mortgage loan.
This percentage represents an annual tax on the homeowners' property which is based on the home's value. To convert an annual property tax amount to a percentage, divide the property tax amount by the home value and then multiply by 100.
Otherwise known as hazard insurance. This is usually a requirement by most lenders to provide protection to your home from a variety of events. All policies also contain personal liability coverage to protect against lawsuits involving injurings that may occur on your property.
Usually owners of condos or neighborhoods with a Home Owners Association are requried to pay dues. (also known as HOA Fees) Dues cover more common amenities and services within the association such as garbage collection, landscaping, street and sidewalk upkeep and pool maintenance. Check with your location association for the amount of dues if applicable.