Financial Tool — How Much Home Can I Afford?

Buying a new home is an exciting time! Determining how much you can afford to live comfortably can give you the framework to know where to begin looking for your new home.

This calculator helps you determine the most expensive house you can buy based on the highest monthly payment you can afford. Please note, that the most expensive home might not be the right home for you. Just because you can afford it, doesn’t always mean you should purchase a home at the top end of your budget. Be sure to consider your income, lifestyle and long-term financial goals before taking out any loan.

Monthly Payment Information
Highest Payment You Can Afford
(Include all taxes, fees, dues, insurance, etc)

Payment Breakdown
Monthly Insurance and Other Costs – Enter the estimated monthly cost of homeowners insurance and other recurring costs.

Annual Property Tax
Property tax can be entered as a percentage or a dollar amount.
[ ] %
[ ] $

Monthly Association Dues (if any)
If your home is part of a homeowners’ association (HOA), include the monthly dues.

Loan Information
Down Payment
Down payment can be entered as a percentage or a dollar amount.
[ ] %
[ ] $

Loan Term
Enter the loan term in months or years.
[ ] Months
[ ] Years

Interest Rate
Enter the interest rate for your loan.

Personal Information
Combined State and Federal Tax Rate
Enter your combined state and federal tax rate to calculate the potential tax benefit.
[ ] Show payment schedule without getting the tax benefit
[ ] Show payment schedule with the tax benefit

Calculator Results
Based on the information you provide, the calculator will give you two results:
You can afford a home worth $XXX,XXX without getting the tax benefit.
You can afford a home worth $XXX,XXX with the tax benefit.

These results will help you understand the maximum price of a home you can afford, both with and without the tax benefits associated with homeownership. By knowing your budget, you can make informed decisions and start your home search with clarity and confidence.