Finance Your Home
How much home can you afford?
Most people have a general idea of how much they feel comfortable spending. It's equally important to know how much your lender calculates you can afford. With assistance provided by your Cressy & Everett Real Estate sales professional, you'll be able to better prepare the many details required during the financing application process.
Evaluate your financial situation as the lenders do.
Typically, your total monthly housing costs should not exceed 28 percent of your gross monthly income. Or, housing costs plus any outstanding monthly long term debt (car loans, credit card balances, etc.) should not exceed 36 percent of gross monthly income.
Ask how your lender determines the total monthly housing cost figure.
It usually includes your mortgage principal and interest payments, property taxes and hazard insurance.
Determine how much your financial institution is willing to lend you by completing our Mortgage Calculator or calling a Cressy & Everett Real Estate sales professional for help during the pre-qualification process.
Know how much you can afford in monthly payments.
Lenders factor in sales price and down payment, but place more importance on how much you can handle your monthly expenses.
Financial Calculators
Calculators
How Much House Can You Afford?
You supply your income information and we calculate how much you can afford.
CalculateMortgage Payment Table Calculator
See how much a home loan will cost with varying interest rates and payments on the same chart!
CalculateMortgage Qualification Calculator
See what lenders expect your minimum annual income to be in order to afford your next home.
CalculatePrepayment Mortgage Reduction
This form allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan.
Calculate
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 03/03/2026. The listing information on this page last changed on 03/03/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Tue 03/03/2026 1:07:30 PM EST) or MichRic (Michigan Regional Information Center) (last updated Tue 03/03/2026 1:03:41 PM EST) or NIRA MLS (last updated Tue 03/03/2026 1:04:51 PM EST) or IRMLS (last updated Tue 03/03/2026 1:02:40 PM EST). Real estate listings held by brokerage firms other than Cressy & Everett Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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