True Lending Company
NMLS #2298394
Curious about how much you qualify for? Use our affordability calculator to get an estimate of your maximum budget…
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Estimated home price you can afford
$
Affordable
Manageable
Stretching
Monthly Payment
$
Loan Balance & Interest
$
Property Taxes
$
Homeowners Insurance
$
Private Mortgage Insurance
$
HOA Dues
$
You can afford a $ home
Monthly Payment
$
Loan Balance & Interest
$
Property Taxes
$
Homeowners Insurance
$
Private Mortgage Insurance
$
HOA Dues
$
Remaining Monthly Budget
$
This estimates what you'll have left for living expenses after paying your mortgage and debts. We assume you'll pay 25% of your income in taxes.
Monthly Income (after taxes)
$
Monthly Mortgage Payment
- $
Monthly Debt & Expenses
- $
DTIDebt-To-Income Ratio
%
The Debt-To-Income ratio helps you understand if you have enough income to live comfortably for the selected home price. A general guide is to budget around 28% of your pre-tax income for your mortgage payment, and another 8% for other debts.
Affordable 20%-36%
Manageable 37%-43%
Stretching 44%-55%
Recommended Savings
$
This is the recommended amount to save for your down payment, closing costs, and cash reserves. Cash reserves are equal to 3 months of your mortgage payment. We asume you'll pay 2.9% of the home price in closing costs.
Down Payment
$
Closing Costs
$
Cash Reserve
$
Affordability Calculation
This breakdown shows the key factors affecting your home affordability calculation.
Annual income
$
Down payment
$
Monthly debts
$
Debt-to-income
%
Interest rate
%
Loan term
Taxes & insurance included?
Property tax
%
Homeowner's insurance
% /yr
Mortgage insurance
$/mo
HOA dues
$/mo
Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $ (the amount borrowed)
- Interest payments: $ (the cost of borrowing)
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Whether buying, selling, refinancing, or building your dream home, you have a lot riding on your loan specialist.
Since market conditions and mortgage programs change frequently, you must ensure you’re dealing with a top professional who can give you quick and accurate financial advice.
We have the expertise and knowledge you need to explore the many financing options available.
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