The Affordability Calculator will help determine how much home the client can afford. To get started, follow the steps below:
- Enter the annual income, expected interest rate, the length of the loan and the down payment in the appropriate fields.
- You can click Advanced to enter additional information such as:
- Monthly obligations
- Property tax
- Homeowners insurance
- DTI (Debt to Income ratio) tolerance
- Any maintenance fees
- Once this information is added, the amount of home the client can afford will be displayed below.
Go to the next article to dive into what's inside the Affordability Calculator's results.