Calculators
Home Affordability Calculator

If you’re ready to buy a home, you need to know what your price range is.
Our Home Affordability Calculator helps you determine the price of a home that fits perfectly in your budget.
 

If you’re ready to buy a home, you need to know what your price range is. Our Home Affordability Calculator helps you determine the price of a home that fits perfectly in your budget.

$

Enter any number here. Some programs allow down payments as low as 3%. Just remember, the more you put down, the less your monthly payment will be.

$

Your gross income amount is how much money you earn annually before taxes are deducted.

$

This includes monthly minimum credit card payments, car and student loan payments, child support, etc. Do not include cost of living expenses.

%

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

Debt-to-income ratio is calculated by taking all of your monthly costs (including the monthly mortgage payment) and dividing it by your monthly gross income.

You should be able to buy a home valued at
$328,000
30 year fixed loan
Monthly Payment
$1,819
Debt-to-income Ratio
40%

Debt-to-Income Ratio:

0-36%: Affordable
37-42%: Stretching
43% or higher: Aggressive

CALCULATE

These calculations are tools for learning more about the mortgage process and are for educational/estimation purposes only. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.

For example, a Conventional fixed rate loan with the terms purchase price of $312,500, on a loan term of 360 months, down payment of 20%, and an interest rate of 6.5%, will result in an annual percentage rate of 6.598% with $3,613 in APR fees. Rate pulled 09/02/22, rates change daily. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval.