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See how much house you can actually afford
Answer a few quick questions and get connected with a licensed mortgage advisor who can give you real numbers based on today's rates and programs.
How It Works
Find out how much house you can afford
Our home affordability calculator factors in your income, credit, down payment, and current rates to build a personalized picture of what you can afford.
Enter your details
Tell us about your income, credit score, down payment, and goals. Takes about 60 seconds.
We crunch the numbers
Your scenario is analyzed against today's rates, loan programs, and local market conditions.
Get your breakdown
Receive a personalized affordability analysis tailored to your specific financial picture.
First-Time Home Buyer Programs
First-time home buyer programs can significantly reduce your upfront costs. Many states offer down payment assistance, closing cost grants, and reduced interest rates for qualifying buyers. These programs vary by state and change frequently, which is why working with a knowledgeable loan officer matters.
- Down payment assistance (DPA) grants and forgivable loans
- State-specific programs (California CalHFA, Colorado CHFA, and more)
- FHA loans with as little as 3.5% down payment
- Reduced mortgage insurance options for qualified buyers
Understanding Your Mortgage Options
FHA Loans
FHA loan requirements include a minimum credit score of 580 for 3.5% down, or 500 with 10% down. FHA loans are backed by the Federal Housing Administration and are popular with first-time home buyers.
VA Loans
Available to active duty military, veterans, and eligible spouses. VA loans offer zero down payment, no PMI, and competitive interest rates. One of the best loan programs available.
USDA Loans
USDA home loans offer zero down payment for homes in eligible rural and suburban areas. Income limits apply, but many areas just outside major cities qualify.
Conventional Loans
Conventional mortgages typically require a credit score of 620 or higher. Down payments start at 3% for first-time buyers. PMI drops off automatically at 20% equity.
How Much House Can I Afford?
How is home affordability calculated?
Lenders look at your debt-to-income ratio (DTI), credit score, down payment, and current interest rates. Most lenders prefer a DTI below 43%, meaning your total monthly debts (including your new mortgage payment) should be less than 43% of your gross monthly income. An online calculator gives you estimates, but a licensed loan officer can factor in programs and credits that change the picture.
What credit score do I need to buy a house?
The minimum credit score to buy a house depends on the loan type. FHA loans require a 580 score for 3.5% down (or 500 with 10% down). Conventional loans typically need 620 or higher. VA loans have no official minimum, though most lenders look for 620+. Your credit score also affects your interest rate, which directly impacts your monthly payment and how much house you can afford.
How much down payment do I need for a house?
Down payment requirements range from 0% to 20% depending on the loan program. VA and USDA loans offer zero down payment. FHA loans require 3.5% down. Conventional loans start at 3% for first-time buyers. Down payment assistance programs in many states can cover part or all of your down payment with grants or forgivable loans.
What are today's mortgage rates?
Mortgage rates change daily based on economic conditions, the bond market, and Federal Reserve policy. The rate you qualify for also depends on your credit score, loan type, down payment, and property location. That's why generic rate quotes from online calculators are only rough estimates. Your loan officer can lock in your actual rate based on your specific scenario.
Should I get pre-approved before house hunting?
Yes. A mortgage pre-approval letter shows sellers you're a serious, qualified buyer. Pre-approval involves a credit check and income verification, giving you a clear picture of how much you can borrow. Most real estate agents require pre-approval before showing homes, and it strengthens your offer in competitive markets.
Could Refinancing Save You Money?
Refinancing replaces your current mortgage with a new one, potentially at a lower interest rate. Homeowners refinance to lower their monthly payment, shorten their loan term, switch from an adjustable to a fixed rate, or tap into home equity with a cash-out refinance.
Whether refinancing makes sense depends on your current rate, how long you plan to stay, closing costs, and your break-even timeline. A licensed advisor can run the numbers for your specific situation and tell you exactly how much you could save.
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Licensed Advisors
Every advisor is a licensed mortgage loan officer with access to today's actual rates and programs.
Your information will NOT be sold to multiple parties. Most online mortgage shopping experiences sell the information they collect to multiple mortgage lenders, banks, and other institutions.