Many people dream about buying their first home, or look forward to trading up from their current home. In either case, buying a home is one of the most significant purchases you will make in your lifetime, so it is important to have a strong understanding of what you can afford. Spending more than you can afford can have dire consequences on your financial health, and underestimating what you can afford may result in making unnecessary compromises.
VisualCalc’s Affordability Calculator helps you estimate how much you can afford to pay for a new home. The calculator uses your pre-tax income, outstanding debts, loan interest rate, loan term, and down payment amount to determine your maximum affordable home price.
