How Much House Can You Afford?

The first step in buying a house is determining your budget. This mortgage affordability calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the “Calculate” button to see a complete amortization schedule of your mortgage payments and find out how much house you can afford to buy.

Gross Annual Income: $
Purchase price: $
Down payment: %
Mortgage term: years
Interest rate: %
Property tax: $
Property insurance: $
PMI: %
First payment month:
First payment year:
Calculate

10 Step Home Buying Road Map:

 

STEP 1 - GET PRE-APPROVED

Meet with one of our experienced loan officers to get pre-qualified to purchase.

STEP 2 - MEET WITH OUR TRUSTED REAL ESTATE PROFESSIONALS

Get all the details on they type of home you are looking for and get a list of homes to view.

STEP 3 - VIEW PROPERTIES

Go out with one our Real Estate staff and see properties that meet your criteria.

STEP 4 - MAKE AN OFFER

Our real estate team will assist in determining the offer price and assist with all documentation.

STEP 5 - HOME NEGOTIATIONS

Our team will aggressively negotiate with the listing agent so that your real estate needs are met with confidence.

STEP 6 - IN ESCROW

Once your offer has been accepted we open the escrow account so that you can pay the initial deposit. We will guide you through the process until the home is yours including property inspections and disclosure reviews. This is where the loan process starts. If your are obtaining a loan for the purchase of the property your loan officer will now gather any remaining documents needed from you to submit your loan file to the banks underwriter for review. The appraisal for the property is also ordered at this time if it is a requirement of the loan.

STEP 7 - LOAN APPROVAL

Once the appraisal is complete and your documents are reviewed by the underwriter your loan moves to a conditional approval status. We may ask you to satisfy those last conditions and discuss rate options if you are ready to lock the rate on your loan.

STEP 8 - LOAN DOCUMENTS & CLOSING

When loan conditions are complete we can order your final loan documents and set a date for signing. At that point the seller signs their selling documents, buyer signs their purchase and loan documents and within days the house is yours.

STEP 9 - THE MOST IMPORTANT STEP

The buyer gets their keys, pops a bottle of champagne and lives happy ever after

STEP 10 - AFTER CARE

Your Loan officer and Real estate agent will communicate over the following couple weeks to make sure that any questions that come up post close are answered. They make it a point to regularly follow up with clients well into the future in order to educate them on changing market conditions and ensure they are always in the best possible situation.
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Mortgage Affordability Calculator

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