Many home buyers spend a lot of time discussing how big of a house they want. But it might be better to first figure out how big a loan you can afford.
Bedrooms, baths and backyards. You consider a lot of factors when home-buying. Lenders must also consider many factors before they can approve your loan application. This Mortgage Qualifier Calculator allows you to plug in your household income, home purchase price, estimated insurance costs and property tax payments to determine what size loan you might be able to get. It will also help you determine the amount of loan you feel you can comfortably afford, taking into consideration personal goals, preferences, priorities and life style.