Lets get you Pre-approved
O1ne Mortgage Inc.
1906 W. Garvey Ave S.
Suite 200
West Covina, CA 91790
Call: 909-642-8258
Website: O1ne Mortgage
Mortgage
Fast, Easy, Customized for you
How much house can I afford?
See what you can afford and find homes within your budget.
Annual household income before taxes. Include any co-buyer’s income.
Obligations like loan and debt payments or alimony, but not costs like groceries or utilities.
Cash you can pay when you close.
$465,134
Monthly payment: $2,692
Down payment: 10.7%
Debt-to-income ratio: 45% | Aggressive
Interest rate: 6.7%
⚠ Exceeds recommended debt-to-income ratio.
Requires private mortgage insurance.
How We Determine Your Home Affordability
Our home affordability calculator helps estimate how much home you can comfortably afford by considering key financial factors such as your location, annual income, down payment savings, and existing monthly expenses or debts. This estimate provides a solid starting point when exploring homeownership options.
Refining Your Estimate with Advanced Filters
For a more precise affordability assessment, you can apply advanced filters that factor in the additional costs of homeownership. These include:
Monthly homeowners insurance
Mortgage interest rate
Private mortgage insurance (PMI), if applicable
Loan type
Property tax rate
The more details you input, the more accurate your estimate will be, helping you make informed decisions about your future home purchase.
Calculating Your Household's Annual Income
o determine how much of a mortgage payment you can afford each month, start by calculating your
gross annual income
the total amount you earn before taxes. This should include:
🔹 Salary or wages
🔹 Tips and commissions
🔹 Bonuses or other earnings
If you have a spouse or partner contributing to the mortgage, be sure to include their income in the total. Once you have your combined annual income, divide it by 12 to get your monthly income, which will be a key factor in determining your home affordability.
By understanding these numbers and using our home affordability calculator, you can confidently explore homeownership with a clear financial plan!
How Much Should You Put Down on a Home?
A 20% down payment is the traditional benchmark—but it’s not always necessary. Depending on the type of mortgage you choose, you could put down as little as 3.5% or even 0% in some cases. However, making a larger down payment can have a significant impact on your finances.
How Your Down Payment Affects Your Mortgage
Your down payment reduces the total loan amount, which:
✔️ Increases your home affordability by lowering the amount you need to borrow
✔️ Decreases your monthly mortgage payment since you’re financing a smaller loan balance
✔️ May eliminate the need for private mortgage insurance (PMI) if you put down 20% or more
To see how different down payment percentages affect your mortgage, check out the chart below, which illustrates the direct impact on monthly payments based on varying down payment levels.
The right down payment for you depends on your financial situation, long-term goals, and the mortgage options available to you. Let’s find the best fit for your budget!
Transforming property dreams into reality through personalized service, local expertise, and innovative solutions. Licensed real estate professional committed to guiding you through every step of your buying, selling, or investment journey.
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