Calculate Home Buying Power Instant

Example: $308,000 (Loan) + $50,000 (Cash) = ⚠️ Important Considerations

Standard for many first-time buyer conventional loans. calculate home buying power

Keep 1%–3% of the home's value in savings for annual repairs. Example: $308,000 (Loan) + $50,000 (Cash) = ⚠️

Example: ($8,333 x 0.36) - $400 car payment = Step 3: Factor in "Hidden" Costs 000 (Loan) + $50

Result in higher rates, which raises your monthly payment and lowers the total house price you can afford. 🧮 How to Calculate Your Power To get a realistic number, follow these steps: Step 1: Determine Monthly Income Take your annual salary and divide by 12. Example: $100,000 / 12 = $8,333/month Step 2: Apply the DTI Limit

Set aside 2%–5% of the home price for fees; don't use this money for the down payment.