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How Much House Can You Afford?

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This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

How To Use The Affordability Calculator

This calculator is intended to help estimate an affordable monthly payment based on your monthly after-tax income. These numbers are meant only to help build a better idea of your financial situation as you build a budget for your mortgage.

  •   Budget for an affordable monthly payment
  •   View home prices that work with your budget
  •   Understand how much house you can afford

* Other factors such as existing debt, down payment, property taxes and mortgage insurance can end up affecting your payment amount.

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By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

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Mortgage Terms Glossary

Gross Annual Income:The total amound of income earned annually before taxes.

Net Annual Income: Your take-home pay, or the amount of money earned after taxes.

Private Mortgage Insurance(PMI): Insurance you'll pay each month if your down payment is less than 20% of your mortgage.

Homeowners Insurance: Protect your home and belongings with this type of insurance.

Property Taxes: The amount you'll pay depending on local tax rates and your properties estimated value.

Interest Rate: The amount you’ll pay each year to borrow the money on your home loan. In this case, the lower the interest rate percentage, the more you’ll save over the life of your loan.

Down Payment: This is the cash you pay up-front on the final price of your home before your mortgage starts.

Learn more about popular mortgage terms.