How much house you can afford depends on a number of factors. Mortgage calculator Q&A How much house can I afford? Also check out other calculators by The Mortgage Reports: However, conventional is not the best loan type for everyone. This calculator assumes a conventional loan offered by Fannie Mae or Freddie Mac. Many buyers are eligible, but don’t know it yet. These are general guidelines, however, and home shoppers should get a full qualification check and pre-approval letter from a lender. A home that meets the lender’s property standards.1-2 years of consistent employment history (most likely 2 years if self-employed).A debt-to-income ratio of 43% or less (higher DTI acceptable with compensating factors).Mortgage loans are typically available to those who meet the following qualifications: See today’s mortgage rates, OctoMortgage eligibility Leaving nothing to chance, it allows you to estimate all parts of your future home payment. To arrive at this number, home buyers must use a mortgage payment calculator that includes things like private mortgage insurance (PMI), property taxes, homeowners insurance, HOA dues, and other costs. Mortgage calculators are useful - but not if they don’t tell you how much your true home payment will be. Mortgage Payment Calculator with PMI, Taxes, Insurance & HOA Dues