Affordability Calculator

Calculate the maximum home price you can afford.

Frequently Asked Questions

What are the advantages of owning a home?

  • Interest is tax deductible.

  • Fixed payments.

  • No need to worry if the property you are renting is sold or foreclosed forcing the renter to move out.


I am already paying rent, what type of home can I afford?

Our loan specialists will analyze your current living situation to provide you with the best home affordability options.

Am I throwing away money on rent?

There are tax savings when you own a home and historically, property taxes and interest on your mortgage have been tax deductible. Tax laws do change every year and we recommend speaking with a tax professional on the specific laws in your area. One benefit about home ownership is that your payments will remain the same and not increase each year, which is typical of a rental property. Also, you do not have to worry about the homeowner selling the property that you are renting, forcing you to move out!

Will I save money on taxes if I buy a home?

Property taxes and mortgage interest may be tax deductible. An accountant will be able to analyze the current tax code, but historically both have been tax deductible.

How much do I need for a down payment compared to rent?

  • When renting a property, it is typical to need your first month, last month, and a security deposit. All of this adds up and that same amount of money can be close to what you need when purchasing a home. In addition, each time you move from a rental, your credit is checked, which may decrease your score initially.

  • Moving is expensive as there are moving costs as well as costs that may be associated with applying for a community. When purchasing a home, you do not need to worry every year about these additional expenses!