How much home can you afford?

What Can You Afford – Peak Seven Mortgage

Income (Monthly) *

$

DTI (%) *

Other Debt (Monthly) *

$

Rate (%) *

Loan Term *

Down Payment *

$

Monthly Housing Costs

Taxes *

Insurance *

PMI *

HOA *

Want a bigger loan? Try lowering your DTI or reducing other monthly debts.

Does the affordability calculator include property taxes and insurance?

Yes, a truly accurate affordability estimate must include PITI (Principal, Interest, Taxes, and Insurance). Our calculator factors in estimated local tax rates and homeowners insurance to give you a realistic "all-in" monthly number.

How does my Debt-to-Income (DTI) ratio affect my home buying power?

Your DTI is the percentage of your gross monthly income that goes toward paying debts. For most FHA loans, we look for a DTI of 43% or less, though some programs allow for higher ratios with compensating factors. The max housing DTI before other debts are included is 46.99%.

Can I get a mortgage with a low down payment?

Absolutely. Programs like HomeReady/HomePossible (3% down), FHA loans (3.5% down) and VA loans or USDA loans (0% down for those who qualify) are designed to help buyers get into homes without needing a massive 20% down payment.

What is the difference between being pre-qualified and pre-approved?

Pre-qualification is a quick estimate based on information you provide. Pre-approval is a formal commitment where I verifiy your income and credit. Having a pre-approval letter makes your offer much stronger in a competitive market.