Affordability Calculator

 For demonstrative purposes only. This is an estimate, and actual results can vary. For financial advice, please consult with a financial professional.

info Enter your total gross annual income (before taxes). Include all household earners who will be on the mortgage.
info Total monthly payments for car loans, student loans, credit cards, child support, and any other recurring debts.
info The cash you'll pay upfront toward the home purchase. A larger down payment increases your buying power and can eliminate PMI (at 20%+).
Loan Details
info The type and length of your mortgage. Shorter terms have higher payments but lower total interest. ARMs start lower but can adjust.
info The annual interest rate on your mortgage. This is influenced by your credit score, loan type, and market conditions. Check current rates with your lender.
Debt-to-Income
info The percentage of your gross monthly income that goes toward all debt payments including your new mortgage. Most lenders cap this at 36-43%.
Recommended: 36% or less. Maximum most lenders allow: 43%.
Taxes, Insurance & Fees
info The annual property tax as a percentage of the home's assessed value. This varies by county. WA state average is approximately 1.1%.
info Your estimated monthly homeowners insurance premium. This protects your home and belongings against damage and liability.
info Monthly homeowners association fees, if applicable. These cover shared amenities and community maintenance. Leave at $0 if the property has no HOA.
How Much Home Can You Afford?
info
You Can Afford a Home Up To
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Enter your details above to calculate
Estimated Monthly Payment Breakdown
Mortgage (P&I) --
Property Tax --
Homeowners Insurance --
HOA Dues --
Total Monthly Payment --
Your Debt-to-Income Ratio --
Lenders typically prefer a DTI of 36% or less

*This calculator is intended to be used for educational purposes only. Actual results are subject to various fluctuations and will depend on a number of factors. The estimates are based on information you provide and may not include all that is needed to perform a perfectly accurate calculation. Coval Homes LLC, does not make loans and this is not a commitment to lend.