Go first: know your numbers
What's your buying power?
Explore home affordability using your income, monthly debts, down payment, and loan assumptions with First Equity’s prequalification calculator.
Your Home Affordability
Home Price
—Financial Summary
- Max Monthly Payment
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- Debt-to-Income Ratio
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- Down Payment
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- Loan Amount
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Monthly Payment Breakdown
- Principal & Interest
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- Prop. Tax
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- Insurance
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- Monthly HOA
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- Mortgage Insurance
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- Total Monthly Payment
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Estimates only; not a loan offer, approval, or commitment to lend. Eligibility, pricing, and program terms are confirmed by a licensed loan officer.
Questions about buying power
Is my buying power the same as a pre-approval?
No. Buying power is an educational estimate from the numbers you enter. A pre-approval requires a licensed loan officer to review your documented income, credit, and assets.
Are the calculator’s assumptions a personalized loan offer?
No. Preset assumptions are illustrative, not current offers or guaranteed qualification limits. Review and adjust them for your situation, and ask a licensed loan officer to confirm applicable terms.
Why does a bigger down payment change more than the loan amount?
It lowers the amount borrowed, can remove monthly mortgage insurance at 20% down on many conventional loans, and raises the cash you need at closing. The comparison shows each tradeoff side by side.
Will using this tool affect my credit?
No. The tool does not request or pull a credit report.