Free calculator · For buyers
How much home can I buy?
Answer a few short questions about your income and monthly payments. In about 2 minutes you'll see the home price you may qualify for, your monthly payment and the cash you need.
- What you earn before taxes
- Your car payment and any other loan payments
- The minimum payment on your credit cards
- The same numbers for anyone buying with you
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Good to know
What counts as a monthly payment?
Car loans or leases, student loans, personal loans, child support, the minimum payment on each credit card, and a mortgage on a home you already own. Phone, utilities, groceries and insurance do not count.
Why doesn't my rent count?
Your rent stops when you buy. Your new home payment takes its place, so lenders do not count rent against you.
Can a family member buy with me?
Yes. A husband, wife, brother, sister or parent can be on the loan with you. Their income is added to yours, and their monthly payments are added too. The lender checks both credit scores.
Is this a pre-approval?
No. This is an estimate to help you plan. A licensed lender gives the exact number after checking your credit, pay stubs and bank statements. Zamir can introduce you to trusted local lenders.
How is the number worked out?
Lenders usually let up to half of your monthly income go to all your monthly payments together, including the new home payment. We take half of the income, subtract your car, loan and credit card payments, and use what is left for the home: loan, property tax, home insurance and mortgage insurance.
Estimate only, not a loan approval, pre-approval or loan offer. Assumes a 30-year fixed loan at % interest, property tax and home insurance of about 1.2% of the price per year, and mortgage insurance of about 0.6% of the loan per year when less than 20% is put down. Zamir Nasrullah, REALTOR® · BNI Realty, 6575 Edsall Rd, Springfield, VA 22151 · (703) 913-6100 · VA License #0225279961 · Equal Housing Opportunity.