The Affordability Calculator helps you estimate how much home your client may be able to afford based on their income, loan terms, and financial obligations. This allows you to review different scenarios and help your client understand their potential purchasing power.
Simple Inputs
- Under the Simple toggle, enter the client’s annual income, expected interest rate, loan term, and down payment in the appropriate fields.
- The estimated home price your client may be able to afford will automatically update below based on the information entered. Adjust the inputs to explore different affordability scenarios.
Advanced Inputs
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Click Advanced to enter additional financial details, including:
- Monthly obligations
- Property tax
- Homeowners insurance
- DTI (Debt to Income ratio) tolerance
- Any maintenance fees
Entering this information provides a more accurate affordability estimate. The estimated home price will update automatically based on the inputs.
Go to the next article to dive into What's Inside the Affordability Calculator's results.
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