How Much House Can You Afford?

A house is a major investment that will affect your financial future. Before you start looking for a new home, determine how much house you can actually afford.

Currency

How much have you saved for a down payment?

How quickly do you want to pay off your loan?

How much can you afford to pay toward a mortgage payment each month?

What interest rate do you think you can find on a mortgage?

Anticipated closing costs

Loan origination rate

Property tax rate

Homeowner's insurance rate

Results

A Note on Private Mortgage Insurance (United States): You will also need to pay Private Mortgage Insurance (PMI) if the amount you owe on your home is more than 80% of the value of the home.