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Kevin Crampton Midland's Real Estate Educator

How much home can you afford?

A quick estimate based on the guideline most lenders use. Your real number depends on your full finances and loan program.

Car, student loans, credit cards, etc.

Includes principal, interest, and your taxes + insurance estimate; debts reduce the available budget. Excludes PMI or FHA MIP, HOA dues, maintenance, utilities, and purchase closing costs.

Enter all fields, including debts and taxes + insurance. Enter 0 only when that cost does not apply.

How this is figured

  • Uses the 28/36 guideline: housing costs up to 28% of gross monthly income, and total debt up to 36%.
  • The lower of those two limits sets your housing budget; taxes and insurance are subtracted to find the loan payment.
  • It does not include PMI, HOA dues, or your credit profile, all of which affect a real approval.

This is an educational estimate. It is not a loan approval. Talk to a lender for a real pre-approval. Kevin can connect you with local options.