Affordability is about more than the maximum loan amount a lender may approve. The payment needs to fit your real budget.
Costs to include
Include principal, interest, property taxes, homeowners insurance, mortgage insurance, HOA dues, utilities, maintenance, repairs, and emergency savings.
Leave room for life
A payment that technically fits may still feel tight if it crowds out retirement saving, car repairs, medical expenses, travel, or everyday breathing room.
Try several scenarios
Change the rate, down payment, taxes, insurance, and loan term to see how sensitive the payment is.
Estimated monthly payment$0Principal, interest, taxes, and insurance estimate.
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