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How much house can I afford?

Tell us how much you make and where you want to buy a home, and we can tell you how long it will take for you to save enough.

CALCULATOR

How long before you can buy a home?

Tell us how much you make and where you want to buy a home, and we can tell you how long it will take for you to save enough.

Please input your gross (pre-tax) monthly income.
How much money can you save each year, as a % of your gross income. Assuming a 20% savings rate
Assuming a $200 Monthly taxes

We used average data from your state
We used an average cost of 4.5%
Which is typical for a 30 year mortgage

It will take you

3.46 years

to save for a home.

Let's break it down:
Your monthly income is: $3,188
Most mortgage companies will not let your monthly payment exceed 35% of your income. Based on your income, here's the monthly mortgage payment you would be able to afford. $1115.80
The total amount you can borrow over 30 years is: $197,230
And the amount of the home you want to buy is: $132,000
So the amount you need to save for the down payment and closing costs is: $26,480
If you're saving 20% of your income, it will take you this long to save the $26,480: 3.46 years
Do you have a question?