How much home can you afford?

Start with income and debts. The math below is the same way a lender sizes up a loan.

Client name (optional)

Income Gross annual household income

Monthly debts

Minimum payments on the credit report. Rent, utilities and phone don't count.

Car

Student loans

Credit cards

Other loans

Loan

Down payment

Interest rate

Debt-to-income limit

Term

yrs

Lenders commonly allow 43–50% depending on loan type and credit. Confirm with the lender.

Taxes, insurance and fees

Property tax / yr

Home insurance / mo

HOA / mo

Mortgage insurance / yr

Closing costs

Property tax varies by county and levy; check the actual rate for the address.

What the monthly payment covers

Principal, interest, taxes and insurance, all in one payment.

Cash to get in the door

Down payment assistance and seller credits can lower this.

If rates move

Estimates for conversation only, not a loan approval, commitment or financial advice. Actual qualification depends on credit, reserves, loan program and lender review. Get pre-approved with a licensed lender before making an offer.

Angela Perez
REALTOR® · Keller Williams Seattle Metro West
425.598.6283 · angelaperezrealtor.com