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How Much Home Can I Afford? | PrimeLending
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How Much Home Can I Afford?

If you’re ready to buy a home, you need to know what your price range is. Our Home Affordability Calculator helps you determine the price of a home that fits perfectly in your budget.

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Enter any number here. Some programs allow down payments as low as 3%. Just remember, the more you put down, the less your monthly payment will be.

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Your gross income amount is how much money you earn annually before taxes are deducted.

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This includes monthly minimum credit card payments, car and student loan payments, child support, etc. Do not include cost of living expenses.

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We’re using the current average mortgage rate to calculate payments. Your actual rate may vary depending on credit score, loan type and other factors.

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

Debt-to-income ratio is calculated by taking all of your monthly costs and dividing it by your monthly gross income.

Calculate
You should be able to afford a home valued at

$337,905

30 year fixed loan

Monthly Payment:   $1,819
Debt-to-income Ratio:   40%

These calculations are tools for learning more about the mortgage process and are for educational/estimation purposes only. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.

*For example, a Conventional fixed rate loan with a loan term of 360 months, loan amount of $400,000, down payment of 20%, and a 7.25% interest rate at cost of .297 points ($1,188) paid at closing by borrower will result in an annual percentage rate of 7.347% and a monthly payment of $2,728.71. Loan scenario assumes a credit score of 740+. Rates pulled 5/23/25, rates subject to change. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval. Payment shown is principal and interest only, and does not include amounts for taxes and insurance premiums (if applicable). The actual payment obligation will be greater.

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