Affordability Calculator How Much House Can I Afford?
Table of Content Get pre-approved Estás ingresando al nuevo sitio web de U.S. Bank en español. What are the different types of home loans? View affordability from two perspectives: Follow These Pro Tips To Make The Most Of Your Mortgage How to calculate annual income for your household If you don’t have enough money for a down payment, many lenders will require that you have mortgage insurance. You’ll have to pay your monthly mortgage as well as a monthly insurance payment, so it’s not the best option if your budget is tight. The table above used $600 as a benchmark for monthly debt payments, based on average $400 car payment and $200 in student loan or credit payments. The mortgage section assumes a 20% down payment on the home value. The payment reflects a 30-year fixed-rate mortgage for a home located in Kansas City, Missouri. Your total household expense should not exceed $1,290 a month ($3,000 x 0.43). Some communities, such as condominiums and townhomes, are governed by a...