Every great journey starts with a single step—and understanding your budget is one of the most important ones when buying a home. Whether you’re estimating monthly payments or figuring out how much house you can comfortably afford, these tools are here to help you explore your options with confidence.
Dreaming of your first home? Planning your next move? Let’s make it happen.
š” First-time buyer in Alabama? Don’t miss the Alabama First-Time Homebuyers Savings Account Program—a smart way to save as you step into homeownership.
Ready to take that next step? Dive in and let’s get you one step closer to your perfect home.
AFFORDABILITY CALCULATOR
Quite affordable.
MORTGAGE CALCULATOR
Mortgage Help
From mortgage programs to down payments and fees, I’m here to explain all the moving parts. Not sure what’s best? Let’s chat—I’m happy to guide you through the rest.
Down Payment
A good rule of thumb is to aim for a 20% down payment, but that’s not a hard requirement. FHA loans often require as little as 3.5% down, and qualified buyers using VA or USDA loans may not need a down payment at all. The more you put down, the lower your monthly payment—and the less you’ll pay in interest over time.
Loan Term
Your loan term plays a big role in both your monthly payment and the total amount of interest you’ll pay. Choose from options like 30-year fixed, 15-year fixed, and more depending on your goals.
Loan Type
There are several popular types of mortgage loans, each designed to meet different needs. Fixed-rate and adjustable-rate mortgages (ARMs) are the most common structures. Fixed-rate loans keep the same interest rate for the life of the loan, offering predictable payments. ARMs typically start with a lower rate that adjusts over time.
There are also loan programs tailored to specific buyers:
- Conventional Loans – A great option for buyers with solid credit and financials, often requiring 3–20% down.
- FHA Loans – Backed by the government, these loans are perfect for first-time buyers and allow as little as 3.5% down.
- VA Loans – For eligible veterans, active-duty military, and surviving spouses, offering 0% down with no PMI.
- USDA Loans – Designed for rural and some suburban areas, these also offer 0% down for qualified buyers.
Not sure which is right for you? I’d be happy to help walk you through it.
Interest Rate
This is typically pre-filled with a national average, but your actual rate may vary based on your credit score, loan type, and down payment. You can adjust this field in the calculator to better reflect your situation.
Property Tax Rate
This rate varies based on the area and the value of the home. The calculator provides a field to include your estimated annual property taxes so you can see a more accurate monthly cost.
Home Insurance
Homeowner’s insurance protects your investment and is usually required by lenders. You can include your estimated yearly insurance cost to get a more complete idea of your mortgage payment.
HOA Fees
If the home is part of a homeowners association, there may be monthly HOA fees. These fees can vary widely depending on the community and amenities. Be sure to factor them into your budget when applicable.
HELPFUL READS ON BUDGETING & HOME LOANS
Quick tips to help you budget and buy with confidence.
